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Yantang Dairy: Legal Opinion on the First Extraordinary Shareholders Meeting in 2026
Beijing Dacheng (Guangzhou) Law Firm’s Legal Opinion on the First Extraordinary Shareholders Meeting of Guangdong Yantang Dairy Co., Ltd. in 2026
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September 2026
Beijing Dacheng (Guangzhou) Law Firm
About Guangdong Yantang Dairy Co., Ltd.
Legal Opinion on the First Extraordinary Shareholders Meeting in 2026
Dacheng Zhengzi [2026] No. 172
To: Guangdong Yantang Dairy Co., Ltd.
In accordance with the Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law"), the Company Law of the People's Republic of China (hereinafter referred to as the "Company Law") and the China Securities Regulatory Commission's Rules of Shareholders' Meetings of Listed Companies (hereinafter referred to as the "Shareholders' Meeting Rules") and other laws, regulations and For other requirements related to normative documents, Beijing Dacheng (Guangzhou) Law Firm (hereinafter referred to as the "firm") accepted the entrustment of Guangdong Yantang Dairy Co., Ltd. (hereinafter referred to as the "company") and assigned lawyers to participate in the company's first extraordinary shareholders' meeting in 2026 (hereinafter referred to as the "shareholders' meeting").
Our firm declares: Our lawyers only express legal opinions on the convening procedures, convening procedures, qualifications of attendees, convenor qualifications, voting procedures and voting results of this shareholders’ meeting. We do not express opinions on the proposals considered by this shareholders’ meeting, the figures and content involved in the proposals. Our lawyers agree to announce this legal opinion together with other information disclosure materials at this shareholders’ meeting.
This legal opinion is only for the purpose of witnessing the legality of matters related to the company's shareholders' meeting and may not be used for any other purpose.
In accordance with the provisions of the Securities Law, the Administrative Measures for Law Firms Engaging in Securities Legal Business, the Rules for the Practice of Securities Legal Business of Law Firms (Trial), and the facts that have occurred or existed before the date of issuance of this legal opinion, the firm and its handling lawyers have strictly performed their statutory duties and complied with Adhering to the principles of diligence and good faith, we have conducted sufficient verification and verification to ensure that the facts identified in this legal opinion are true, accurate, and complete, and that the concluding opinions expressed are legal and accurate, and there are no false records, misleading statements, or major omissions, and we shall bear corresponding legal responsibilities.
In accordance with the requirements of Article 6 of the "Shareholders' Meeting Rules" and in accordance with the recognized business standards, ethics and diligence of the legal industry, our lawyers conducted necessary verification and verification of the relevant matters and relevant documents involved in this shareholders' meeting, attended this shareholders' meeting, and issued the following legal opinions:
1. Convening and convening procedures of this shareholders’ meeting
(1) Procedure for convening this shareholders’ meeting
This shareholders' meeting is proposed and convened by the board of directors. On August 25, 2026, the company held the sixth meeting of the sixth board of directors, and reviewed and approved the "Proposal on Convening the First Extraordinary Shareholders' Meeting in 2026".
The company announced the notice and proposal content of this shareholders’ meeting on August 26, 2026, in official disclosure channels such as Securities Times, China Securities Journal and cninfo.com.
(2) Procedures for convening this shareholders’ meeting
This shareholders' meeting will be held through a combination of on-site voting and online voting.
At 14:45 on September 11, 2026, this shareholders' meeting was held in Conference Room 3, 22nd Floor, No. 85 Yanyuan Road, Tianhe District, Guangzhou (Tower B, Guangken Tianhe 1). The company's chairman, Mr. Feng Like, presided over the shareholders' meeting.
The online voting time for this shareholder meeting is: the specific time for online voting through the Shenzhen Stock Exchange trading system is 9:15-9:25, 9:30-11:30, 13:00-15:00 on September 11, 2026; the specific time for voting through the Shenzhen Stock Exchange Internet voting system is any time from 9:15 to 15:00 on September 11, 2026.
Lawyers from our firm believe that this shareholders' meeting was convened by the board of directors. The qualifications of the convener, the convening and convening procedures of the meeting are in compliance with relevant laws, administrative regulations and the provisions of the "Articles of Association of Guangdong Yantang Dairy Co., Ltd." (hereinafter referred to as the "Articles of Association") and the Rules of Procedure for the Shareholders' Meeting of Guangdong Yantang Dairy Co., Ltd. (hereinafter referred to as the "Rules of Procedure").
2. Personnel present and convener of this shareholders’ meeting
(1) Qualifications of persons attending the meeting
According to the "Company Law", "Securities Law", "Articles of Association", "Rules of Procedure" and the notice of this shareholders' meeting, the persons attending and attending this shareholders' meeting are:
Ordinary shareholders or their agents who hold the company’s shares on the equity registration date. That is, all shareholders of the company registered in the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. (the company does not currently have preferred shareholders, all common shareholders) as of the market close on the afternoon of September 4, 2026, have the right to attend the shareholders' meeting. Shareholders who cannot attend the meeting in person can entrust a proxy in writing (the shareholder proxy does not have to be a shareholder of the company) to attend the meeting and vote, or participate in online voting during the online voting period.
Company directors and senior managers.
Witnessing lawyer appointed by our firm.
Other persons who should attend the shareholders' meeting according to relevant laws and regulations.
(2) Meeting attendance
A total of 35 shareholders and shareholders' agents attended the meeting on-site and online, representing a total of 92,762,930 shares, accounting for 58.9532% of the company's total voting shares. The specific situation is as follows:
- On-site attendance
After the company's board of directors office and our lawyers checked the attendance certificates, a total of 3 shareholders and shareholders' agents attended the shareholders' meeting, representing a total of 64,848,963 shares, accounting for 41.2132% of the company's total voting shares.
After verification by our lawyers, the shareholders attending the meeting and the shareholders represented by their agents were registered, and the power of attorney held by the shareholder agents was legal and valid.
- Online attendance
According to the online voting results provided by Shenzhen Securities Information Co., Ltd., a total of 32 shareholders voted online, representing 27,913,967 shares, accounting for 17.7400% of the company's total voting shares.
- Attendance of small and medium shareholders
A total of 30 small and medium-sized shareholders and shareholders' agents attended this meeting, representing 1,596,110 shares, accounting for 1.0144% of the company's total voting shares. Among them, 0 people attended on-site, representing 0 shares; 30 people voted online, representing 1,596,110 shares.
(3) Meeting convener
The convener of this shareholders' meeting is the company's board of directors.
Lawyers from our firm believe that the qualifications of the persons attending this shareholders' meeting are legal and valid (the qualifications of online voting shareholders will be certified by the Shenzhen Stock Exchange system when they vote online); the qualifications of the shareholders' agents attending the meeting comply with the relevant laws, administrative regulations and the "Articles of Association" and "Rules of Procedure", and have the right to review and vote on the resolutions of this shareholders' meeting.
3. Proposals, voting procedures and voting results of this shareholders’ meeting
(1) Proposals to be considered at this shareholders’ meeting
According to the "Notice on Convening the First Extraordinary Shareholders' Meeting in 2026" (hereinafter referred to as the "Notice of the Shareholders' Meeting"), the proposals submitted for consideration at this shareholders' meeting are all non-cumulative voting proposals, as follows:
(1) "Proposal on the Proposed Re-appointment of the Accounting Firm";
(2) "Proposal on Purchasing Liability Insurance for Directors and Senior Management Personnel".
The aforementioned proposals have been listed and disclosed by the company's board of directors in the "Notice of Shareholders' Meeting", and the actual matters considered at this shareholders' meeting are consistent with the contents of the "Notice of Shareholders' Meeting".
(2) Voting procedures for this shareholders’ meeting
After verification, the shareholders' meeting will be voted by a combination of on-site voting and online voting. The shareholders and shareholders' proxies who attended the on-site meeting voted by registered vote on the proposals included in the "Notice of the Shareholders' Meeting". This shareholders' meeting will count and supervise the on-site voting in accordance with the procedures stipulated in laws, regulations and the "Articles of Association" and "Rules of Procedure". An online voting platform will be provided to the company's shareholders through the Shenzhen Stock Exchange trading system and the Shenzhen Stock Exchange Internet voting system to conduct online voting and counting.
(3) Voting results of this shareholders’ meeting
After combining the online voting and on-site voting results, the voting results of the resolutions reviewed at this shareholders’ meeting are as follows: Proposal name Voting status Agree (shares) Oppose (shares) Abstain (shares)
Voting status 92,745,530 2,800 14,600
"About the proposed re-appointment of accountants
Proposal of the Firm" Among them, small and medium-sized investments
1,578,710 2,800 14,600
voting status
Voting result: Passed.
Proposal name Voting status Agree (shares) Oppose (shares) Abstain (shares) "About the purchase of directors and senior officers Voting status 92,735,130 17,500 10,300
Management personnel liability insurance
Among them, small and medium investment
Case》 1,568,310 17,500 10,300
voting status
Voting result: Passed.
Our lawyers believe that the voting matters at this shareholders’ meeting are consistent with the matters listed in the “Notice of the Shareholders’ Meeting”, the voting procedures are in compliance with laws, administrative regulations, normative documents and the “Articles of Association”, and the voting results are legal and valid.
4. Conclusions
To sum up, our lawyers believe that the convening and convening procedures of this shareholders' meeting are in compliance with laws, regulations, the "Shareholders' Meeting Rules", the "Articles of Association" and the "Rules of Procedure"; the qualifications of the persons attending the meeting and the qualifications of the convener are legal and valid; the voting procedures and voting results of the meeting are legal and valid.
This legal opinion is made in triplicate originals and will take effect after being signed by our lawyers and stamped with the official seal.
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This page has no text, but is the signed and sealed page of "Beijing Dacheng (Guangzhou) Law Firm's Legal Opinion on the First Extraordinary Shareholders Meeting of Guangdong Yantang Dairy Co., Ltd. in 2026".
Beijing Dacheng (Guangzhou) Law Firm Person in Charge: ______________ Zheng Cheng
Attorney: ______________ Wu Siying
Zhang Linmin
September 11, 2026