Lanzhou Zhuangyuan guarantees RMB 25 million for subsidiary

Lanzhou Zhuangyuan Pasture Co. Ltd. (the "Company") has entered into a "Maximum Guarantee Contract" with China Everbright Bank Co. Ltd., Xi'an Branch. This agreement formalizes a previously approved decision by the company's board of directors to provide a joint and several liability guarantee of up to RMB 25 million for loans taken by its wholly-owned sub-subsidiary, Xi'an Dongfang Dairy Co. Ltd.

Xi'an Dongfang Dairy, established on September 6, 2000, with a registered capital of RMB 35.3 million, is 100% owned by Dongfang Dairy (Shaanxi) Co. Ltd., which in turn is a wholly-owned subsidiary of Lanzhou Zhuangyuan Pasture. As of September 30, 2025, Xi'an Dongfang Dairy reported total assets of RMB 131.2365 million and net assets of RMB 81.3384 million, with a liability-to-asset ratio of 38.02%. For the first nine months of 2025, its operating revenue was RMB 108.7049 million, and net profit was a loss of RMB 2.8641 million.

The guarantee period for each specific credit business will be three years from the maturity date of the recipient's debt performance. As of the announcement date, the total external guarantees provided by the Company (excluding those for subsidiaries) amount to 0. Guarantees for subsidiaries, including this new arrangement, are projected to be less than RMB 400 million, which is within 40% of the company’s net assets as per the latest audited financial statements. The company has no overdue or non-compliant guarantees.