Ningxia Xiaoming Animal Husbandry Convertible Bond Second Interim Trustee Report (2026)

Stock Code: 300967

Bond Code: 123189

Stock Abbreviation: Xiaoming Shares

Bond Abbreviation: Xiaoming Convertible Bond

Ningxia Xiaoming Animal Husbandry Co., Ltd.

Second Interim Trustee Report on Issuance of Convertible Corporate Bonds to Unspecified Objects

(2026 Fiscal Year)

Bond Trustee Manager

Huaxi Securities Co., Ltd.

August 2026

Important Statement

This report is prepared by the bond trustee manager, Huaxi Securities Co., Ltd. (hereinafter referred to as "Huaxi Securities"), based on relevant public information disclosure documents such as the "Administrative Measures for the Issuance and Trading of Corporate Bonds" (hereinafter referred to as the "Administrative Measures"), the "Trustee Management Agreement" between Ningxia Xiaoming Animal Husbandry Co., Ltd. and Huaxi Securities Co., Ltd. for the 2022 issuance of convertible corporate bonds to unspecified objects on the ChiNext market (hereinafter referred to as the "Trustee Management Agreement"), and the "Prospectus" for the issuance of convertible corporate bonds by Ningxia Xiaoming Animal Husbandry Co., Ltd. to unspecified objects on the ChiNext market (hereinafter referred to as the "Prospectus"), as well as professional opinions issued by third-party intermediaries. Huaxi Securities has not independently verified the content and information cited from the above documents and does not guarantee or assume any responsibility for the truthfulness, accuracy, and completeness of such cited content and information.

This report does not constitute a recommendation for investors to take or not take any action. Investors should make independent judgments on relevant matters and should not rely on any content in this report as a commitment or statement made by Huaxi Securities. In any event, Huaxi Securities shall not be liable for any action or inaction taken by investors based on this report.

1

Huaxi Securities, as the trustee manager for the 2023 issuance of convertible corporate bonds to unspecified objects on the ChiNext market by Ningxia Xiaoming Animal Husbandry Co., Ltd. (Bond Abbreviation: Xiaoming Convertible Bond, Bond Code: 123189, hereinafter referred to as the "Bond"), continuously monitors matters that have a significant impact on the rights and interests of bondholders. In accordance with relevant regulations such as the "Administrative Measures for the Issuance and Trading of Corporate Bonds," the "Code of Practice for Bond Trustee Managers," and the "Administrative Measures for Convertible Corporate Bonds," the provisions of the "Trustee Management Agreement" for this Bond, public information disclosure documents, and relevant materials provided by Ningxia Xiaoming Animal Husbandry Co., Ltd. (hereinafter referred to as "Xiaoming Shares," "the Issuer," or "the Company"), the following report on major events concerning this Bond is hereby submitted:

I. Overview of Bond Approval

Approved by the China Securities Regulatory Commission's "Approval on the Registration of Ningxia Xiaoming Animal Husbandry Co., Ltd. for the Issuance of Convertible Corporate Bonds to Unspecified Objects" (Certificate of Approval No. [2023] 253), the Company issued 3,290,000 convertible corporate bonds to unspecified objects on April 12, 2023. The issuance price was RMB 100 per face value, issued at par, with total raised funds of RMB 32,900.00 million.

II. Basic Information of the Bond

1. Registration Documents and Registration Scale: Approved by the China Securities Regulatory Commission (Certificate of Approval No. [2023] 253), the Issuer is authorized to publicly issue convertible corporate bonds to unspecified objects not exceeding RMB 32,900.00 million (inclusive).

2. Bond Name: 2023 Ningxia Xiaoming Animal Husbandry Co., Ltd. ChiNext Convertible Corporate Bonds Issued to Unspecified Objects.

3. Bond Issuance Scale: RMB 32,900.00 million.

4. Bond Face Value and Issuance Price: The bonds are issued at par, with a face value of RMB 100 per bond.

5. Bond Term: 6 years.

6. Principal and Interest Payment Method: This convertible bond adopts an annual interest payment method, with the principal repaid and the final year's interest paid upon maturity.

7. Start Date of Interest Accrual: The start date of interest accrual for this bond is the first day of the issuance of this convertible bond.