Group 1 - The meeting of the Supervisory Board of Suzhou Mingzhi Technology Co., Ltd. was held on August 29, 2025, with all three supervisors participating in the voting, confirming the legality and validity of the meeting procedures [1][2] - The Supervisory Board approved the company's 2025 semi-annual report, stating that it accurately reflects the financial status and operational results of the company for the first half of 2025, and complies with relevant regulations [1][2] - The Supervisory Board also approved the special report on the storage and use of raised funds for the first half of 2025, confirming compliance with regulatory requirements and proper use of funds without harming shareholder interests [2][3] Group 2 - The Supervisory Board approved the proposal to conduct foreign exchange derivative trading, which is expected to effectively mitigate foreign exchange market risks and enhance the efficiency of foreign exchange fund usage [2][3]

Meeting Overview - The second meeting of the second supervisory board of the company was held on August 14, 2025, with all three supervisors present [1]. Resolutions Passed Use of Raised Funds - The supervisory board approved the proposal to provide interest-free loans from raised funds to the wholly-owned subsidiary Shenzhen Kexing Pharmaceutical for project implementation, aligning with the fundraising plan and benefiting project execution [1]. Foreign Exchange Derivative Transactions - The board approved the proposal for the company and its subsidiaries to engage in foreign exchange derivative transactions, with a limit of 75 million RMB or equivalent foreign currency, to mitigate foreign exchange risk and enhance financial stability [2]. Related Party Transaction Agreement - The board approved the signing of a supplementary agreement for related party transactions, confirming compliance with regulations and ensuring no adverse effects on the company's financial status or shareholder interests [2]. Issuance of Technology Innovation Bonds - The board approved the proposal for the company to issue technology innovation bonds, affirming that it aligns with the overall interests of the company and shareholders [3].

Group 1 - The company held its first extraordinary general meeting of shareholders in 2025 on July 23, 2025, with both on-site and online voting options available [3][5][8] - A total of 190 shareholders attended the meeting, representing 161,079,470 shares, which is 70.7761% of the total shares with voting rights [8][9] - All proposed resolutions were approved during the meeting, including the continuation of commodity futures hedging business and the use of idle funds for entrusted wealth management [11][12][13][14] Group 2 - The company reported a 10.00% year-on-year increase in operating revenue for the first half of 2025, amounting to 75,045.37 million RMB [18] - The net profit attributable to shareholders increased by 11.32% year-on-year, reaching 17,240.44 million RMB [18] - Sales revenue from domestic markets grew by 7.70% to 34,978.10 million RMB, while overseas sales revenue increased by 12.08% to 40,067.27 million RMB [18]

Core Viewpoint - The company is convening its second extraordinary general meeting of shareholders in 2025 to discuss several key proposals related to financing, transactions, and risk management following a significant asset restructuring [1][4]. Group 1: Daily Related Transactions - The company plans to increase the estimated amount for daily related transactions in 2025, which includes procurement of materials, equipment, and services from related parties, such as diesel, industrial gases, and software services [1][6]. - The total estimated amount for these daily related transactions is projected to be 142.9 million RMB, with actual transactions amounting to approximately 26.94 million RMB [5][6]. Group 2: Borrowing Proposal - The company intends to apply for a new borrowing limit of up to 15 billion RMB from its controlling shareholders and related parties to support daily operations and the development of newly acquired assets [6][8]. - This borrowing will have a maximum interest rate not exceeding the Loan Prime Rate (LPR) and will not require any form of guarantee [7][8]. Group 3: Guarantee Plan - A new guarantee plan is proposed with a total limit of 30 billion RMB for 2025, aimed at supporting the daily operations of the company and its subsidiaries [8][9]. - The guarantees will be exclusively for subsidiaries within the consolidated financial statements and will not involve related parties or joint ventures [9][10]. Group 4: Comprehensive Credit Facility - The company seeks to apply for a comprehensive credit facility of up to 50 billion RMB and 200 million USD to ensure smooth operations and reduce financing costs [12][13]. - This facility will cover various financial services, including loans and trade financing, with the final amount subject to approval by financial institutions [13]. Group 5: Foreign Exchange Derivatives - The company plans to engage in foreign exchange derivatives trading to mitigate risks associated with currency fluctuations, with an estimated maximum balance of 1 billion USD [14][15]. - This initiative is aimed at stabilizing the company's financial operations without speculative intentions [15]. Group 6: Entrusted Financial Management - The company proposes to conduct entrusted financial management with a maximum daily balance of 500 million RMB to enhance investment returns while ensuring operational safety [16]. - The management will be authorized to implement this plan within the approved limits and timeframe [16].

Meeting Information - The company will hold its second extraordinary general meeting of shareholders on June 16, 2025, at 15:00 [1] - The meeting will be conducted both in-person and via online voting through the Shenzhen Stock Exchange systems [1][3] - Shareholders can register for the meeting from June 12, 2025, and must choose between in-person or online voting [3][4] Shareholder Rights - All shareholders registered by June 10, 2025, have the right to attend the meeting and can appoint proxies to vote on their behalf [2] - The meeting will include a proposal for using idle funds for cash management, which has been approved by the board [2][6] Voting Procedures - Voting will be non-cumulative, and shareholders can express their opinions as agree, disagree, or abstain [4] - The first valid vote will be considered for any repeated voting on the same proposal [4] Registration Process - Corporate shareholders must provide specific documentation for registration, while individual shareholders need to present their ID and securities account [3] - Remote shareholders can register via mail, email, or fax, with a deadline of June 12, 2025, at 17:00 [3] Contact Information - The company has provided contact details for inquiries related to the meeting, including a phone number and email address [3]

Group 1: Financial Performance - The company achieved a significant increase in gross profit margin in 2024 due to improved procurement coordination and cost control measures, resulting in a decrease in costs and financial expenses year-on-year [2] - The gross profit margin is influenced by fluctuations in raw material and product prices, which affect operating income [2] - In 2022, cash dividends amounted to 30.10 million CNY, accounting for 19.29% of net profit; in 2023, cash dividends increased to 52.68 million CNY, representing 30.35% of net profit; the proposed cash dividend for 2024 is 151 million CNY, which is 50.27% of net profit, indicating a yearly increase in dividend payout ratio [3] Group 2: Project Development - The new 50,000 tons/year specialty malt production line project received construction planning approval last year and is currently under construction, expected to be completed by the end of 2025 [2] - The production capacity release will depend on the qualification review process by major beer companies, which requires thorough testing and certification of the new production line [3] Group 3: Market and Risk Management - The recent U.S. tariff policy has limited impact on the company as its raw material procurement and product sales do not involve the U.S. market [2] - To mitigate foreign exchange risks due to the depreciation of the RMB against the USD, the company has increased its export ratio and implemented foreign exchange derivative trading to manage exposure [2] Group 4: Strategic Outlook - The company maintains a stable relationship with major beer groups, with over 20 years of cooperation, minimizing the impact of recent personnel changes in these companies [3] - The company is focusing on the development of whiskey malt, although current demand in this area is relatively low, indicating potential for future growth [3]