According to Panda Dairy's announcement, the company held the 3rd meeting of the 5th board of directors on October 14, 2026 to consider and approve the addition of its wholly-owned subsidiary Hainan Panda Dairy Co., Ltd. as the implementing entity of the fund-raising project “Ding'an Annual Production of 18,000 Tons of Food Ingredients Project”. Hainan Panda will implement the production and operation of the project by leasing the Hainan Yeda plant and equipment. It does not involve the use of funds raised. This change does not constitute a related transaction, is not considered a change in the use of the raised funds, and does not require review by the shareholders' meeting. The sponsor, CITIC Securities, had no objection to the matter.

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