Hong Kong Exchanges and Clearing Limited has designated China Shengmu Organic Milk Limited as having a “Significant Public Float Shortfall” under Rule 13.32F. The company currently fails to meet the minimum public float required by Rule 13.32B. If compliance is not restored by 2 February 2028, the Stock Exchange will cancel the listing of China Shengmu’s shares.

Shareholders and potential investors are advised to exercise caution when trading the stock in light of the possible delisting.

In a supplemental disclosure dated 31 August 2026, the board addressed the recent appointments of Mr. Li Shengli and Ms. Pan Min as independent non-executive directors (INEDs). Both directors had been connected to previous regulatory matters—Mr. Li with AustAsia’s listing application and Ms. Pan with Harbin Gloria’s 2023 profit estimate—but neither was sanctioned. After review, the board concluded that there are no concerns about their character, integrity, or competence under Listing Rules 3.08 and 3.09.

Mr. Li and Ms. Pan have each confirmed: • Independence in accordance with Rule 3.13(1)-(8). • No financial or other interests in China Shengmu or its subsidiaries, nor ties to any core connected persons. • No additional factors that could impair independence.

Board composition as at 31 August 2026: one executive director (Mr. Zhang Jiawang), four non-executive directors (Mr. Chen Yiyi—Chairman, Mr. Shen Xinwen, Mr. Sun Yugang, Mr. Zhu Xiaohui), and four INEDs (Mr. Li Shengli, Ms. Pan Min, Mr. Wu Liang, Mr. Sun Yansheng).