China Feihe invests RMB300m in SPD Bank financial products

China Feihe Limited announced its wholly-owned subsidiary, Feihe HLJ, subscribed for RMB300 million in Shangxin financial products from SPD Bank on December 8, 2025. This investment utilizes the group's idle funds, aiming to generate capital gains while ensuring capital safety and liquidity for daily operations and dividend payments.

The investment is structured as two non-principal guaranteed products with floating returns, both maturing on September 22, 2026, and offering an expected annual return rate of 2.60%. The subscription includes RMB200 million for Shangxin Ruby H-6001 Phase 291 and RMB100 million for Shangxin Ruby T+N Phase 120, both classified as fixed income assets.

As of the announcement date, the aggregated outstanding principal amount of the group's wealth management and structured deposit financial products subscribed from SPD Bank stands at RMB2,800,000,000.

The directors confirm these transactions are on normal commercial terms, fair, and in the best interests of the company and its shareholders. The transaction, when aggregated with previous SPD Bank financial product subscriptions, constitutes a discloseable transaction under Listing Rules due to exceeding 5% but remaining below 25% of the applicable percentage ratios.