China Youran Dairy Group Limited (Youran Dairy) has despatched a shareholder circular detailing its proposed connected transaction involving the subscription of new shares under a specific mandate and the related application for a Whitewash Waiver. The document, issued on 30 April 2026, includes: (i) comprehensive terms of the subscription agreement; (ii) the Whitewash Waiver application; (iii) independent board committee recommendations; (iv) an independent financial adviser’s opinion; (v) a summary property valuation report; and (vi) the notice and proxy form for the forthcoming extraordinary general meeting (EGM).

The EGM will take place on 22 May 2026 at the company’s headquarters in Hohhot, Inner Mongolia, immediately after the annual general meeting. Independent shareholders will vote on resolutions to approve both the share subscription and the Whitewash Waiver.

Completion of the specific mandate subscription remains conditional on satisfaction of all contractual conditions, including the granting of the Whitewash Waiver by the Hong Kong Takeovers Executive and approval by independent shareholders. Youran Dairy has cautioned that the transaction may or may not proceed and advises shareholders and potential investors to exercise prudence when dealing in the company’s shares.

The board—comprising three executive directors, three non-executive directors and three independent non-executive directors—collectively accepts full responsibility for the accuracy of the information in the announcement.