On 15 July 2026, China Feihe Limited announced that its wholly-owned subsidiary Heilongjiang Feihe Dairy Co., Limited (“Feihe HLJ”) subscribed to CITIC Bank’s “Xinyin Wealth Management Allwin Xiangzhiying Fixed Income Enhanced Profit Equity-Debt Balance Closed-ended Wealth Management Product No. 30” with idle funds of RMB200.00 million.

The product is non-principal-guaranteed with floating returns, carries an expected annual yield of 2.60%, and matures on 16 July 2027. Proceeds will be invested in fixed-income assets.

Following this transaction, China Feihe’s aggregate outstanding principal in wealth-management and structured deposit products issued by CITIC Bank stands at RMB2.40 billion. The Board stated that the subscription was conducted on arm’s-length commercial terms, aimed at improving returns on temporary surplus cash while maintaining capital safety and liquidity for daily operations and dividend needs. Internal controls are in place to ensure the investment does not impair working capital.

Under Hong Kong Listing Rule 14.22, the new subscription is aggregated with prior purchases from CITIC Bank. The resulting highest applicable percentage ratio exceeds 5% but remains below 25%, classifying the deal as a discloseable transaction requiring public announcement but not shareholder approval.

CITIC Bank and its ultimate substantial beneficial owners are, to the best of the Directors’ knowledge, independent third parties to China Feihe.