China Feihe subsidiary subscribes to RMB200m financial product

On September 17, 2025, Feihe HLJ, a wholly-owned subsidiary of China Feihe Limited, subscribed to a financial product from SPD Bank, "Shangxin Ruby T+N, No. 111," for RMB200,000,000. This investment, utilizing the company's idle funds, offers an expected annual return rate of 2.60% and matures on July 7, 2026. The product is categorized as non-principal guaranteed with a floating return and an investment scope in fixed income assets.

This subscription is part of a series of financial product investments with SPD Bank, as previously announced by China Feihe throughout 2025. The aggregate outstanding principal amount of the group’s wealth management and structured deposit financial products subscribed from SPD Bank now stands at RMB2,100,000,000. The company's board believes these transactions are fair, reasonable, and in the interest of shareholders, enhancing capital gain while ensuring capital safety and liquidity.

The transaction constitutes a discloseable transaction under Listing Rules due to aggregation with previous SPD Bank financial product subscriptions. The aggregate percentage ratio exceeds 5% but is less than 25%, requiring notification and announcement but exempting it from shareholders' approval.