YuanShengTai Dairy Farm Limited 原生態牧業有限公司 （於百慕達註冊成立的有限公司） （股份代號：1431） 股東特別大會 代表委任表格 地址為 或 如其未克出席則由 （姓名） ， 地址為 或 如其未克出席則由大會主席 （見附註2） 為本人╱吾等之代表，代表本人╱吾等及以本人╱吾等之名義出席本公司謹訂於二零 二五年十一月二十八日（星期五）上午十時正假座中國北京朝陽區酒仙橋路22號北京東隅會議室2舉行之股東特別大會（「股東特 別大會」）及其任何續會，並於會上對任何決議案或動議代表本人╱吾等投票。本人╱吾等之代表獲授權依照下列所示 （見附註 3） 就有關之決議案作出投票。除非另有界定，否則本表格所用詞彙定義與本公司日期為二零二五年十月三十一日的通函所界定 者相同。 | | 普通決議案 （見附註3） | 贊成 | 反對 | 棄權 | | --- | --- | --- | --- | --- | | 1. | 批准、追認及確認二零二六年飛鶴主協議及二零二六年飛鶴主協議項下 | | | | | | 擬進行之交易以及相關之截至二零二六年十二月三十一日、二零二七年 | | | | | | 十 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 通 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 YuanShengTai Dairy Farm Limited 原生態牧業有限公司 （於百慕達註冊成立的有限公司） （股份代號：1431） 股東特別大會通告 – 2 – 「動 議： 代表董事會 原生態牧業有限公司 主 席 張永久 香 港，二 零 二 五 年 十 月 三 十 一 日 – 1 – (a) 批 准、追 認 及 確 認 二 零 二 六 年 飛 鶴 主 協 議 及 二 零 二 六 年 飛 鶴 主 協 議 項 下 擬 進 行 之 交 易（其 註 有「A」字 樣 之 副 本 已 提 呈 大 會，並 由 大 會 主 席 簡 簽 以 資 識 別）以 及 相 關 之 截 至 二 零 二 六 年 十 二 月 三 十 一 日、二 零 二 七 年 十 二 月 三十一日及二零二八年十二月三十一日止年度之建議年度上限分別為人 民 幣3,100百 萬 元、人 民 ...

此乃要件 請即處理 閣下對本通函的任何方面或應採取的行動如有任何疑問，應諮詢 閣下的證券經紀或其他持牌證券交易 商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有原生態牧業有限公司股份，應立即將本通函及隨附的代表委任表格送交買主 或受讓人或經手買賣或轉讓的銀行、證券經紀或持牌證券交易商或其他代理商，以便轉交買主或受讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不就因本通函全部或任何部分內容而產生或因倚賴該等內容而引致的任何 損失承擔任何責任。 （於百慕達註冊成立的有限公司） （股份代號：1431） YuanShengTai Dairy Farm Limited 原生態牧業有限公司 持續關連交易： 二零二六年飛鶴主協議 獨立董事委員會及獨立股東 之獨立財務顧問 董事會函件載於本通函第6頁至第20頁。獨立董事委員會函件載有其致獨立股東的推薦意見，載於本通函第 21頁至第22頁。獨立財務顧問嘉林資本函件載有其致獨立董事委員會及獨立股東的意見，載於本通函第23 頁至第40頁。 原生態牧業有限公司謹訂於二零二五年 ...

Core Viewpoint - The Hong Kong dairy stocks have rebounded after a period of decline, with several companies showing positive price movements, although the overall dairy price remains below cost levels, indicating ongoing industry challenges [1]. Group 1: Market Performance - Yurun Dairy increased by 4%, Ecological Dairy by 3.77%, Modern Dairy by 2.5%, China Shengmu by 1.5%, and China Feihe by 1.46% [2]. - The rebound in stock prices is attributed to pre-holiday inventory buildup and increased demand for student milk production [1]. Group 2: Industry Conditions - Despite the short-term support for milk prices due to holiday factors, the trend of capacity reduction in the dairy industry continues [1]. - The overall milk price remains below the cost line, leading to ongoing industry losses and financial pressures from silage [1]. - The number of dairy cows decreased by 0.18% month-on-month in September, following a 0.2% decline in August, with a cumulative reduction of approximately 8% [1]. Group 3: Future Outlook - The capacity reduction trend may be nearing its end, and a turning point in the milk price cycle is anticipated [1].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 YuanShengTai Dairy Farm Limited 原生態牧業有限公司 （於百慕達註冊成立的有限公司） （股份代號：1431） 延遲寄發通函 – 1 – 由 於 需 要 更 多 時 間 落 實 該 通 函 內 所 載 的 若 干 資 料，故 本 公 司 預 期 該 通 函 的 寄 發 日 期 將 延 遲 至 二 零 二 五 年 十 月 三 十 一 日 或 之 前。 承董事會命 原生態牧業有限公司 主 席 張永久 香 港，二 零 二 五 年 十 月 二 十 二 日 於 本 公 告 日 期，董 事 會 包 括 三 名 執 行 董 事，即 張 永 久 先 生（主 席 兼 行 政 總 裁）、 陳 祥 慶 先 生（財 務 總 監）及 劉 剛 先 生；三 名 非 執 行 董 事，即 冷 友 斌 先 生、劉 華 先 生 及 蔡 方 良 先 生；以 及 ...

Core Viewpoint - Livestock stocks have collectively risen, with significant gains observed in companies such as YouRan Agriculture, Modern Farming, and China Shengmu, indicating a positive market sentiment despite recent price adjustments in the sector [1][1][1] Group 1: Stock Performance - YouRan Agriculture (09858) increased by 6.71%, trading at HKD 3.34 [1] - Modern Farming (01117) rose by 4.2%, trading at HKD 1.24 [1] - China Shengmu (01432) and Original Ecological Agriculture (01431) also saw gains of 1.45% and 1.82%, respectively [1] Group 2: Market Analysis - CITIC Securities reported that the recent slowdown in the reduction of dairy cow inventory has led to a temporary price correction in livestock stocks, but this will not disrupt the underlying cyclical logic of the industry [1][1] - The dairy cow inventory is expected to continue its downward trend, with the turning point for raw milk prices approaching as seasonal demand weakens and operational pressures on farms increase [1][1] Group 3: Future Outlook - Tianfeng Securities indicated that the current phase of dairy cow capacity reduction may be nearing its end, with Q3 silage procurement potentially accelerating the clearing of marginal stocks [1] - Raw milk prices are anticipated to bottom out and rebound, while beef prices may also see a turning point, although various factors such as funding, confidence, and environmental regulations could impact the pace of restocking [1][1] - Companies with cow resources or those employing a "milk-meat linkage" model are expected to demonstrate stronger profitability [1]

Core Viewpoint - Livestock stocks have collectively risen, with specific companies showing significant gains, indicating a positive market sentiment despite recent price adjustments due to temporary factors [1] Group 1: Stock Performance - Yuran Livestock (09858) increased by 6.71%, reaching HKD 3.34 [1] - Modern Farming (01117) rose by 4.2%, priced at HKD 1.24 [1] - Ecological Farming (01431) saw a 1.82% increase, now at HKD 0.28 [1] - China Shengmu (01432) gained 1.45%, trading at HKD 0.35 [1] Group 2: Market Analysis - CITIC Securities reported that the recent slowdown in dairy cow inventory reduction has led to a temporary price adjustment in livestock stocks, but this will not disrupt the underlying cyclical logic [1] - The dairy cow inventory is expected to continue its reduction trend, with the turning point for raw milk prices approaching as seasonal demand weakens and operational pressures on farms increase [1] Group 3: Future Outlook - Tianfeng Securities indicated that the current dairy cow capacity reduction may be nearing its end, with Q3 silage purchases potentially accelerating inventory clearance, leading to a rebound in raw milk prices [1] - Beef prices may also see a turning point, although various factors such as funding, confidence, and environmental regulations may affect the pace of restocking [1] - Companies with cow resources or those employing a "milk-meat linkage" model are expected to demonstrate stronger profitability, with recommendations to focus on Yuran Livestock, China Shengmu, Guangming Meat, Modern Farming, and Australia Asia Group [1]

Core Viewpoint - The company, Original Ecology Livestock (01431.HK), anticipates a net profit for the year ending December 31, 2019, contrasting with a net loss of approximately RMB 556.31 million in 2018 [1] Group 1: Financial Performance - The expected profit is primarily attributed to an increase in local raw milk prices and sales volume, leading to a higher gross profit compared to the previous year [1] - The loss from the fair value change of biological assets, net of cost of sales, has decreased compared to 2018 due to the rise in local raw milk prices [1] - Administrative expenses incurred during the year have decreased compared to 2018, including a reduction in equity-settled share option expenses [1] Group 2: Impairment and Provisions - The impairment losses and accrued expenses related to the relocation of the Baichuan Ruixin Cheng Ranch have decreased compared to 2018 [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 原生態牧業有限公司 呈交日期: 2025年9月30日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01431 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 ...

Core Viewpoint - The livestock sector in Hong Kong has experienced significant gains, with multiple companies showing substantial stock price increases on September 30. Group 1: Company Performance - YouRan Agriculture (09858.HK) saw a stock price increase of 10.26%, reaching HKD 3.33 [1] - China Shengmu (01432.HK) rose by 9.23%, with a stock price of HKD 0.355 [1] - Original Ecology Agriculture (01431.HK) increased by 3.39%, trading at HKD 0.305 [1] - Modern Agriculture (01117.HK) experienced a rise of 2.36%, with a stock price of HKD 1.3 [1]