New Hope Dairy to revise articles, governance, and capital

New Hope Dairy is making comprehensive changes to its corporate governance framework, as approved by its board of directors and proposed for shareholder approval in December 2025. These revisions include amending the articles of association to reflect a new board structure that eliminates the supervisory board and supervisors, assigning their responsibilities to the board's audit committee. The updated board will also include one employee director.

Additionally, the company’s registered capital is being adjusted from RMB 86,067.2801 million to RMB 86,067.6919 million, reflecting the conversion of convertible bonds. Other significant changes involve revisions to various internal control and management policies, such as those related to shareholder and board meetings, independent directors' duties, external guarantees, and related-party transactions, to align with the latest regulatory requirements and enhance operational efficiency. The 2026 daily related-party transactions are estimated at RMB 139,570.00 million, an increase from 2025's RMB 102,422.09 million.

The company will hold its second extraordinary general meeting of 2025 on December 25, 2025, to seek shareholder approval for these proposed amendments and other key governance matters. Concurrently, KPMG Huazhen LLP has announced a change in the project partner and signing certified public accountants for the 2025 annual financial statements and internal control audit, ensuring continuity and no adverse impact on the audit process.