Core Points - The company is holding a shareholders' meeting on September 22, 2025, to discuss various agenda items including the reallocation of the employee stock ownership plan and the election of the fifth board of directors [1][2][3] - The meeting will include voting on the election of non-independent and independent directors, as well as the approval of compensation plans for the board members [4][7][10] - The company plans to repurchase and cancel a total of 472,360 shares from the 2022 employee stock ownership plan due to unmet performance conditions and other factors [11][12] Meeting Agenda - The meeting will start with a registration process for shareholders and verification of their identities [1] - The election of the fifth board of directors will be conducted, with specific candidates nominated for both non-independent and independent director positions [4][7] - Voting will be conducted using a cumulative voting system, and the results will be announced at the end of the meeting [5][6] Shareholder Rights and Conduct - Shareholders have the right to speak, inquire, and vote during the meeting, but must register in advance for speaking [1][2] - The meeting will enforce strict conduct rules to maintain order, including restrictions on recording and disruptive behavior [1][2] Capital Reduction Proposal - The company proposes to reduce its registered capital and amend its articles of association following the repurchase of shares from the employee stock ownership plan and other incentive plans [12]

Core Viewpoint - Zhejiang Liziyuan Food Co., Ltd. has completed the repurchase and cancellation of shares from its 2024 employee stock ownership plan, affecting its capital structure and the conversion price of its convertible bonds [1][3][10]. Group 1: Share Repurchase and Cancellation - The company held board meetings on April 26, 2025, and a shareholder meeting on May 19, 2025, to approve the repurchase and cancellation of shares from the 2024 employee stock ownership plan [1][10]. - A total of 4.3313 million shares were repurchased and canceled, with the process completed on July 31, 2025 [2][3]. - The company has received confirmation from the China Securities Depository and Clearing Corporation regarding the transfer and cancellation of these shares [3]. Group 2: Capital Structure Changes - Following the repurchase and cancellation, the company's capital structure will be adjusted, with specific data to be confirmed by the China Securities Depository and Clearing Corporation [4]. - The repurchase price for the canceled shares was set at 7.50 yuan per share [10]. Group 3: Convertible Bond Price Adjustment - The conversion price of the "Liziyuan Convertible Bonds" will be adjusted from 18.49 yuan per share to 18.61 yuan per share, effective from August 6, 2025 [11][14]. - This adjustment is due to the repurchase and cancellation of shares, in accordance with the company's bond issuance terms [13][14]. - The bonds were initially issued on June 20, 2023, with a total amount of 600 million yuan [8].

Group 1 - The company has completed the repurchase and cancellation of part of the shares from the 2024 employee stock ownership plan, as approved in the board meeting and the annual shareholders' meeting [1][2] - A total of 4,331,300 shares have been repurchased and transferred to the company's designated repurchase account, with the cancellation completed by July 31, 2025 [2][3] - Following the repurchase, the company's share capital structure has changed, with the total number of unrestricted shares decreasing from 394,433,144 to 390,101,844 [3]

Group 1 - The company held its 13th meeting of the 5th Supervisory Board on July 22, 2025, with all three supervisors present, complying with relevant laws and regulations [1] - The Supervisory Board approved the proposal to repurchase and cancel 29,158 shares from the first phase of the employee stock ownership plan that have not been unlocked, with a voting result of 2 in favor and 0 against [1] - The proposal will be submitted for review at the company's second extraordinary general meeting of shareholders in 2025 [1] Group 2 - The Supervisory Board approved the cancellation of the Supervisory Board, changes to registered capital, and amendments to the company's articles of association, with a unanimous voting result of 3 in favor [2] - The Supervisory Board agreed to remove Ms. Xue Chao from the position of chairperson of the Supervisory Board, with a unanimous voting result of 3 in favor [2] - These proposals will also be submitted for review at the company's second extraordinary general meeting of shareholders in 2025 [2]