(Incorporated in the Cayman Islands with limited liability) (Stock Code 股份代號: 1117) Dear registered shareholder(s), China Modern Dairy Holdings Ltd. (the "Company") – Notice of Availability China Modern Dairy Holdings Ltd. 中國現代牧業控股有限公司 （於開曼群島註冊成立之有限公司） 24 December 2025 - Notice of publication of Circular containing Notice of Extraordinary General Meeting and Proxy Form (the "Current Corporate Communications") The English and Chinese versions of the Company's Current Corporate Communications are now availabl ...

Market Overview - The Hong Kong stock market showed a positive atmosphere before Christmas, with all three major indices rising. The Hang Seng Index increased by 0.17% to close at 25,818.93 points, with a total turnover of HKD 92.524 billion [1] - CITIC Securities noted that after a one-sided rise in September, the Hong Kong stock market experienced a period of adjustment in October due to fluctuating overseas macro expectations. Currently, high-quality assets in the Hong Kong market are entering a high cost-performance ratio zone, supported by continuous capital inflow and improved profit expectations [1] Blue Chip Performance - Semiconductor company SMIC (00981) led the blue-chip stocks, rising by 3.12% to HKD 71.05, contributing 15.52 points to the Hang Seng Index. Reports indicate that SMIC has implemented a price increase of approximately 10% on some production capacities [2][4] - Other notable blue-chip performances included China Hongqiao (01378) up 2.34%, and CK Infrastructure (01038) up 1.83%. However, Haier Smart Home (06690) and Alibaba Health (00241) saw declines of 2.32% and 1.53%, respectively [2] Sector Highlights - The semiconductor sector saw most stocks rise, with SMIC and Huahong Semiconductor (01347) also showing gains. The price increase by SMIC is attributed to rising raw material costs and strong demand driven by mobile applications and AI [3][4] - Nickel stocks were active, with Likin Resources (02245) rising by 11.44% and Xinjiang Xinmin Mining (03833) up 7.42%. This activity is linked to Indonesia's reduction in nickel production targets to stabilize prices [5] - Dairy stocks rose following the announcement of temporary anti-subsidy measures on EU dairy imports, benefiting domestic producers like Yurun Dairy (09858) and Modern Dairy (01117) [6] Notable Stock Movements - Baidu's stock (02315) surged by 22.23% after being added to the Hong Kong Stock Connect list, indicating strong market interest [7] - Robotics company Yujian (02432) rebounded by 9.41% following the release of its new AI-powered household robot, Rover X1 [8] - Zai Lab (09688) saw a 6.24% increase after receiving approval for a new schizophrenia treatment, marking a significant breakthrough in the field [9] - CGN Mining (01164) continued its upward trend, rising by 5.02%, supported by forecasts of rising uranium prices [10]

China Modern Dairy Holdings Ltd. 中國現代牧業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1117） 於 二 零 二 六 年 一 月 十 六 日（星 期 五）上 午 十 時 正 以 電 子 方 式 舉 行 之 股 東 特 別 大 會（或 其 任 何 續 會）適 用 的 代 表 委 任 表 格 吾╱吾等 （附註1） 地 址 閣下是自願提供 閣下及 閣下委任代表之姓名及地址，以用於處理就本公司股東特別大會有關 閣 下 委 任 代 表 之 任 命 及 投 票 指 示（「該等用途」）。我 們 可能向就該等用途為我們提供行政、電腦及其他服務之代理人、承辦商或第三方服務供應商，以及其他獲法例授權而要求取得有關資料之人士或其他 與上述所列出之該等用途有關以及需要接收有關資料之人士提供 閣下及 閣 下 委 任 代 表 之 姓 名 及 地 址。 閣下所提供 閣下及 閣下委任代表之姓 名 及 地 址 將 就 履 行 該 等 用 途 所 需 之 時 間 內 保 留。有 關 存 取 及╱或 更 正 相 關 個 人 資 料 的 要 求 可 按 照 個 人 資 料（私 隱）條 例 提 出， ...

China Modern Dairy Holdings Ltd. 中國現代牧業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1117） 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。 股東特別大會通告 茲通告 中 國 現 代 牧 業 控 股 有 限 公 司（「現代牧業控股」）謹 訂 於 二 零 二 六 年 一 月 十 六 日（星 期 五）上 午 十 時 正 透 過 https://meetings.computershare.com/CMD_EGM2025 可 訪 問 的 網 上 平 台 以 電 子 方 式 舉 行 股 東 特 別 大 會，以 考 慮 並 酌 情 通 過 下 列 決 議 案 為 現 代 牧 業 控 股 普 通 決 議 案（不 論 有 否 修 訂）。除 本 通 告 另 有 界 定 者 外，本 通 告 所 用 詞 彙 與 現 代 牧 業 控 股 日 期 為 二 零 二 五 年 十 二 月 二 十 四 日 的 通 函（「通 函 ...

此乃要件 請即處理 閣下如對 本通函任何方面或應採取的行動 有任何疑問，應諮詢 閣 下 的 股 票 經 紀 或 其 他 註 冊 證 券 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中國現代牧業控股有限公司的股份，應立即將本通函以及隨附之代表委任表格送交買主 或經手買賣的銀行、股票經紀或其他代理商，以便轉交買主。 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。 China Modern Dairy Holdings Ltd. 中國現代牧業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1117） 關於(1)有關買賣中國聖牧有機奶業有限公司待售股份的有條件協議及 (2)中信里昂證券有限公司代表中國現代牧業控股有限公司提出的 可能強制有條件現金要約以收購中國聖牧有機奶業有限公司的 全 部 已 發 行 股 份（中 國 現 代 牧 業 控 股 有 限 公 司 及 START GREAT已 擁 有 或 同 意 收 購 ...

Group 1 - Haixi New Drug (02637) rose nearly 5%, being a commercial-stage pharmaceutical company with integrated R&D, production, and sales capabilities, and a pipeline of innovative drugs under development [1] - Paige Biopharma-B (02565) increased over 4.1%, with cornerstone investors holding a total of 9.5845 million H shares, accounting for approximately 3.43% of the company's total issued H shares [1] - Naxin Micro (02676) surged over 5% to reach a new high of 118.4 HKD, operating under a fabless model focused on chip R&D and design, outsourcing wafer manufacturing and most packaging testing [1] - Huaxin Building Materials (06655) rose 1.46%, with a major shareholder planning to increase its A-share holdings by no less than 200 million RMB and no more than 400 million RMB within six months [1] Group 2 - Dairy stocks saw an uptick, with Modern Farming (01117) rising 6.21% and Youran Dairy (09858) increasing 6.29%, following the Ministry of Commerce's announcement of temporary countervailing measures against EU dairy imports [2] - Gakos-B (01167) rose over 2.7% after announcing a collaboration with AstraZeneca on its self-developed Pan-KRAS inhibitor JAB-23E73 [2] - Junda Co. (02865) increased over 4.1% after announcing a strategic investment in Shangyi Optoelectronics, focusing on perovskite battery technology applications in space energy [2] - Qiming Medical-B (02500) rose nearly 6% after submitting all application materials for CE MDR certification of its Cardiovalve system in Europe [2] Group 3 - Brain Dynamics-B (06681) saw a slight increase of 0.32%, participating in a national major science and technology project focused on the prevention and treatment of cancer and cardiovascular diseases [3] - Hesai Technology (02525) rose over 3.3% after announcing a strategic partnership with Meituan drones for mass production of its second-generation solid-state lidar [4] Group 4 - Hut8 (HUT.US) continued to rise by 4.13%, with a total increase of 37% over three trading days, following an upgrade of its target price to 85 USD by StoneX [5] - Unusual Machines (UMAC.US) surged 9.24%, with a total increase of 45% over three trading days, after receiving a 3.75 million USD order from Performance Drone Works [5] - Hycroft Mining (HYMC.US) opened with a 10.69% increase, having risen 460% since September, due to successful exploration drilling confirming high-grade silver continuity [6] - Sony (SONY.US) rose 2.1% after acquiring a 41% stake in Peanuts Holdings for 630 million CAD, which holds the rights to the Peanuts comic [7] - Novo Nordisk (NVO.US) increased by 7.3% after the FDA approved its first oral GLP-1 weight loss drug, Wegovy, set to launch in January at a starting price of 149 USD per month [7] - ZIM Integrated Shipping Services (ZIM.US) rose 5.78% as the board evaluates multiple acquisition proposals from strategic investors [7]

Group 1 - The core viewpoint of the article highlights the rise in dairy stocks, specifically mentioning Modern Dairy (01117) increasing by 4.14% to HKD 1.51 and Yurun Dairy (09858) rising by 2.94% to HKD 4.91 [1] - On December 22, the Ministry of Commerce announced a preliminary ruling on anti-subsidy investigations for imported dairy products from the EU, deciding to implement temporary anti-subsidy measures [1] - According to Caitong Securities, due to domestic raw milk overcapacity and a downward cycle in milk prices, the price advantage of imported dairy products is diminishing, creating a window for domestic deep processing capacity expansion [1] Group 2 - The implementation of anti-subsidy measures is expected to further solidify the price advantage of domestic products and accelerate the replacement process of domestic deep processing [1] - The increase in domestic deep processing capacity will create additional demand for raw milk, benefiting upstream farms [1] - Companies to watch include Yurun Dairy and Modern Dairy, as they are positioned to benefit from these market changes [1]

Group 1 - The core viewpoint of the article highlights the rise in dairy stocks, specifically mentioning Modern Dairy (01117) increasing by 4.14% to HKD 1.51 and Yurun Dairy (09858) rising by 2.94% to HKD 4.91 [1] - On December 22, the Ministry of Commerce announced a preliminary ruling on anti-subsidy investigations for imported dairy products from the EU, deciding to implement temporary anti-subsidy measures [1] - According to Caitong Securities, with domestic raw milk production capacity being excessive and milk prices at a low point, the price advantage of imported dairy products is diminishing, creating a window for domestic deep processing capacity expansion [1] Group 2 - The implementation of anti-subsidy measures is expected to further solidify the price advantage of domestic products and accelerate the process of domestic deep processing substitution [1] - The increase in domestic deep processing capacity will create additional demand for raw milk, benefiting upstream farms, and companies such as Yurun Dairy and Modern Dairy are recommended for attention [1]

Group 1 - The core viewpoint of the article highlights the rise in dairy stocks, specifically mentioning Modern Dairy (01117) increasing by 4.14% to HKD 1.51 and Yuanrong Dairy (09858) rising by 2.94% to HKD 4.91 [1] - The Ministry of Commerce announced a preliminary ruling on December 22 regarding anti-subsidy investigations on imported dairy products from the EU, deciding to implement temporary anti-subsidy measures [1] - Financial analysts at Caitong Securities (601108) believe that due to domestic raw milk overcapacity and a downward cycle in milk prices, the price advantage of imported dairy products is diminishing, creating a favorable window for domestic deep processing capacity [1] Group 2 - The implementation of anti-subsidy measures is expected to further solidify the price advantage of domestic products and accelerate the process of domestic deep processing substitution [1] - The increase in domestic deep processing capacity will create additional demand for raw milk, benefiting upstream farms [1] - Analysts recommend focusing on companies such as Yuanrong Dairy and Modern Dairy due to these favorable market conditions [1]

Group 1 - The core viewpoint of the article highlights the positive movement in Hong Kong dairy stocks, with companies like Modern Dairy (01117.HK) and China Wangwang (00151.HK) both rising over 2% [1] - Other dairy stocks such as China Shengmu (01432.HK) and China Feihe (06186.HK) also experienced gains, indicating a broader positive trend in the sector [1] - Citic Securities stated that the EU's anti-subsidy ruling is favorable for domestic dairy product substitutes, suggesting a potential boost for local companies in the industry [1]