Bright Dairy shareholders approve governance changes, key business proposals

Bright Dairy & Food Co., Ltd. announced that all eight proposals presented at its second extraordinary general meeting of shareholders in 2025, held on December 15, 2025, were approved. A total of 454 shareholders and proxies attended the meeting, representing 754,701,604 shares, or 54.7491% of the company's total voting shares. Notably, proposals related to changing the registered address, abolishing the supervisory board, and amending the articles of association were passed with 98.4828% of votes in favor.

Other significant approvals included modifications to the shareholders' meeting rules (99.3247% in favor), board of directors' meeting rules (98.4722% in favor), and the independent directors' work system (98.4647% in favor). Shareholders also approved the purchase of liability insurance for directors and senior management, with 99.2661% of votes cast in favor.

Furthermore, proposals concerning New Zealand subsidiary Synlait Milk’s hedging operations and the projected 2026 daily related-party transactions were passed. The latter, which involved an estimated 37,675,078 yuan in daily related-party transactions, received 87.9416% of the votes, with associated party Bright Food (Group) Co., Ltd. abstaining. A proposal to provide guarantees for Yingbao Bright Dairy Co., Ltd. was also approved.