CH MODERN D (01117) and CHINA SHENGMU (01432) have jointly announced that, by 4:00 p.m. on Tuesday, July 21, 2026 (being the first closing date), CH MODERN D has received valid acceptances under the offer in respect of approximately 4.182 billion CHINA SHENGMU shares (the "Acceptance Shares").

This represents approximately 49.90% of the total issued share capital of CHINA SHENGMU as of the date of this joint announcement.

Taking into account (i) the approximately 2.62 billion CHINA SHENGMU shares that CH MODERN D and its concert parties will hold upon completion of the share purchase agreements under all share purchase agreements, and (ii) the Acceptance Shares, CH MODERN D and its concert parties will hold a total of approximately 6.803 billion CHINA SHENGMU shares.

This aggregate holding will constitute approximately 81.17% of the total issued share capital of CHINA SHENGMU as of the date of this joint announcement.

Based on the current level of acceptances, the public float of CHINA SHENGMU may fail to comply with the requirements of Rule 13.32B of the Listing Rules.