Angel Yeast guarantees investee loan, amends governance documents

Angel Yeast Co., Ltd. will provide a guarantee of CNY 8.75m for its 35%-owned investee, Hubei Fuyou Agricultural Technology Co., Ltd., to support a CNY 81.5m bank loan. This guarantee is proportional to Angel Yeast's stake in Hubei Fuyou. The total external guarantees by Angel Yeast and its subsidiaries amount to CNY 306m, representing 28.26% of the company's latest audited net assets. This falls within the forecast external guarantee limit of CNY 3bn for 2025.

The board also approved changes to the company's registered capital and share count, reducing them from CNY 868,138,471 to CNY 867,978,471 after the repurchase and cancellation of 160,000 restricted shares under the 2024 restricted stock incentive plan. Additionally, revisions to the "Articles of Association" and "Rules of Procedure for the Board of Directors" were approved to remove requirements for independent directors to issue independent opinions on external guarantees in annual reports and to update related party transaction disclosure procedures.

These proposals will be submitted for approval at the company's fifth extraordinary general meeting of shareholders on December 31, 2025, following prior board approval on December 15, 2025.