Core Viewpoint - The legal opinion letter confirms that the procedures for convening and holding the 2024 annual general meeting of Shandong Ruyi Woolen Garment Group Co., Ltd. comply with relevant laws, regulations, and the company's articles of association [2][4][9]. Group 1: Meeting Procedures - The meeting was convened by the company's ninth board of directors and announced on April 29, 2025, through designated information disclosure media [3]. - The meeting was held on May 21, 2025, in a combined format of on-site and online voting, with specific time slots for online voting [3][4]. Group 2: Qualifications of Participants - The convenor of the meeting was the company's board of directors, meeting the qualifications set by laws and regulations [5]. - A total of 155 shareholders (or their agents) participated, representing 70,824,920 shares, which is 27.0618% of the total voting shares [5]. Group 3: Voting Procedures and Results - The meeting followed the required procedures for voting, with all proposed resolutions being reviewed and voted on [9]. - The voting results showed that the majority of resolutions were approved, with specific votes recorded for each resolution [7][9].

Group 1: Financial Performance and Management - The company has reported negative operating cash flow for three consecutive years and currently has no plans to introduce strategic investments or initiate a targeted issuance of shares [2] - The company aims to enhance cash flow management by improving accounts receivable management and optimizing inventory management [5] - The company has faced multiple adjustments or reservations in financial reports over the past few years and is working to strengthen financial management and audit supervision [5] Group 2: Industry Outlook and Opportunities - The textile and apparel industry is expected to experience both opportunities and challenges, driven by the integration of innovation and industrial chains, as well as a focus on technology, fashion, and sustainability [3] - There is a growing demand for high-quality textile and apparel products due to rising living standards and consumer preferences for quality, design, and brand culture [3] - National policies are supportive of technological innovation and industrial upgrades in the textile sector, encouraging companies to increase R&D investment [3] Group 3: Competitive Strategies - The company plans to maintain its competitive advantage through a dual-circulation strategy, enhancing global competitiveness [6] - Differentiation strategies include product feature differentiation, technological innovation, market segmentation, and integration of the industrial chain [6] - The company is committed to innovation and actively engages in industry-academia-research collaboration to enhance its R&D capabilities [6] Group 4: Future Growth Drivers - Future growth will be driven by a focus on personalized orders and group customization, as well as expanding into new R&D areas for functional products [4] - The company aims to improve overall gross margins by enhancing production management and operational efficiency [4] - Key R&D directions include exploring composite functional textiles and improving the efficiency of wastewater treatment processes [4]

Group 1: Investor Relations Activity - The investor relations activity was an earnings briefing held on May 15, 2025, from 15:00 to 16:30 [2] - The meeting was conducted remotely via the "Investor Relations Interactive Platform" [2] - Key personnel present included the General Manager Meng Xia, CFO Wang Mu Yu, and Board Secretary Wang Qing Lin [2] Group 2: Investor Inquiries and Company Responses - Investors raised concerns regarding tax and salary arrears, requesting clarification on these issues [2] - The company confirmed that these matters were disclosed in the 2024 annual report [2]