Strategy CommitteeListed Companies. Governance Structure 2023 Performance of Board of Directors' Special Committees Muyuan has been improving its corporate governance system and operation mechanism in strict Board accordance with the requirements of relevant laws, regulations, and normative documents, such as the The independence of the Composition Number of meetings convened Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, Committee name committees (percentage of Attendance rate in 2023(occurrences) the Code of Corporate Governance for Listed Companies, the Rules Governing the Listing of Shares on independent directors) Shenzhen Stock Exchange, and the Business Guidelines of Shenzhen Stock Exchange for Self-discipline Regulation of Listed Companies. When selecting board members, we consider various factors, Strategy Committee 33% 1 100% including but not limited to their professional abilities, qualifications, professional backgrounds, independence, and competence. As of now, the Company's Board of Directors consists of a total of seven directors, including three Audit Committee 67% 6 100% independent directors, accounting for more than one-third of all directors. The composition of the Board of Directors complies with relevant laws, regulations, and the Articles of Association. Additionally, the Board of Directors has a chairman and a vice-chairman who are responsible for Nomination Committee 67% 2 100% formulating and supervising the company's strategies and ensuring their execution. They are also accountable to the shareholders' meeting. In 2023, Muyuan held a total of 8 board meetings.Remuneration and Appraisal 67% 3 100% Committee As of now, there is one female director on the board, accounting for 14% of the total members. The Board Board of Directors of the Company demonstrates diversity in terms of age, gender, educational Sustainable Development 67% 1 100% Diversity Committee background, nationality, etc. It comprises experts from various fields such as farming, management, law, economics, finance and so on, ensuring the efficient operation of the board.Mr. Qin Yinglin, the chairman of the Company, has been dedicated to the primary business of pig farming since the establishment of the Company. He emphasizes innovative research and development As of now, Muyuan's supervisory board has a total of three supervisors, including Supervisory and is committed to environmental management. In recent years, he has continuously promoted the one chairman of the supervisory board, one supervisor, and one employee Board transformation and upgrading of the pig farming industry. He shares his experience in the industry as representative supervisor. Among them, there is one female supervisor, The convening, holding procedures, and notification time of Muyuan's supervisory board meetings all Under the guidance of regulatory documents such as the Effectiveness comply with relevant provisions such as the Articles of Association. In the daily work, the Company's Opinions on Further Improving Quality of Listed Companies of the supervisors conscientiously fulfill their duties, effectively supervise the legality and compliance and the Guidelines for Investor Relations Management of Supervisory of the company's finances as well as the performance of responsibilities by directors and senior Listed Companies, Muyuan held an online performance management personnel. They attend shareholder meetings and are present at board meetings briefing on May 12, 2023, for the fiscal year 2022. During the Board as non-voting members, effectively supervise significant corporate matters, financial conditions, event, we addressed and clarified investors' concerns, with profit distribution, internal controls, and express their review opinions. They actively safeguard individual investors accounting for 96.84% of the questions the legitimate rights and interests of the Company and all shareholders. In 2023, a total of seven raised. supervisory board meetings were held by the Company. Protect Investors' Rights and Interests Open Days Activities Muyuan strictly adheres to relevant laws and regulations, clearly defines the rights and responsibilities Protect the of the shareholders' meeting and provides online voting channels. It treats all shareholders equally, rights and Media Open Day: From October 30 to 31, 2023, Muyuan organized a "Media Open Day" event. Representatives from 32 media ensuring that all shareholders, especially small and medium-sized shareholders, can fully exercise outlets, including Xinhua News Agency, People's Daily Online, Xinhuanet, and Securities Times, visited Muyuan to observe our interests of their rights. In 2023, Muyuan held a total of two shareholder representative meetings. The convening, industrial chain and gain a deeper understanding of Muyuan's development. Our senior management team shared their insights holding, deliberation, and voting procedures were all legal and compliant. Over 500 small and shareholders on industry development and corporate operations, and we also provided detailed answers to questions of public concern. medium-sized investors participated in the meetings on-site and online. All proposals were approved Through media channels, Muyuan was able to convey company information to the public in a more comprehensive, accurate, and through voting. timely manner, thus contributing to our further development.personnel responsible for handling inquiries. This ensures effective communication during working hours and provides investors Exchange Session Visit the Meat Industry Complex with prompt feedback and responses through efficient means. Environmental Protection Open Day：Muyuan successfully held 324 "Environmental Protection Open Day" events in 24 provincial-level administrative regions across the country, inviting a total of 15,758 people, including local villagers and Muyuan strengthens the construction and operation of online communication channels for investors, including setting up a government representatives at various levels, to visit and exchange ideas. This allowed everyone to gain a close understanding of dedicated securities affairs section on its official website. We utilize the Shenzhen Stock Exchange Easy Interaction (SSEEI) Muyuan's proactive efforts in resource utilization and sustainable agricultural development. At the same time, Muyuan invited platform to collect and respond to investor inquiries, complaints, and suggestions. Muyuan also establishes an investor relations been fully implemented. For more details, please refer to our relevant announcements on the Open Day Events in Ningling Muyuan Farm No. 9 Open Day Activities in Zone 4, Sixian Muyuan Farm No. 2 China Securities Regulatory Commission's website (). Based on confidence in the Company's future development and recognition of its long-term investment value, the controlling 2023 Investor Activity Data shareholder and Mr. Qin Muyuan (the actual controller's son), planned to increase their holdings in the Company's shares with a total amount of no less than 500 million RMB (inclusive) and no more than 1 billion RMB (inclusive). Additionally, certain directors, Type Frequency supervisors, senior management personnel, and core management, technical, and business staff of the Company planned to increase their holdings in the Company's shares with a total amount of no less than 1 billion RMB (inclusive) and no more than Answer the Investor Hotline 1,500 1.2 billion RMB (inclusive). As of the date of this report's disclosure, these certain directors, supervisors, senior management Reply to SSEI Q&A 490 personnel, core staff, and Mr. Qin Muyuan (the controlling shareholder's son), have all completed the aforementioned plan to increase their holdings. Release Investor Research Summary 19 I. Completion Status of the Shareholding Increase Plan for Certain Directors, II. Implementation Results of the Shareholding Increase Plan Press Conference 9 Supervisors, and Core Personnel of the Company As of the disclosure date of this announcement, the Shareholding Increase Plan for Strategy Meeting 5 As of January 19, 2024, the shareholding increase plan for some directors, the Company's controlling shareholder, Muyuan Foods, and Mr. Qin Muyuan, the supervisors, and core personnel of the Company has been completed. The specific son of the actual controller, has been completed. The specific details of the increase increase details are as follows: are as follows:In 2023, Muyuan disclosed a total of 226 announcements for the listed company through the Notes: 1.Before this increase, Mr. Li Fuqiang held 7,494,858 shares of the Company, Notes: 1.Muyuan Foods increased its shareholding by 272,600 shares through designated information disclosure website. All of the announcement content was true, accurate, accounting for 0.1371% of the total share capital; after the increase, he holds 7,520,258 centralized bidding and by 13,564,147 shares through the trust plan, totaling shares, accounting for 0.1376% of the total share capital. 2.For other directors, 13,836,747 shares. 2.Before this increase, Muyuan Foods held 834,925,406 shares of complete, and timely, fully conveying Muyuan's relevant information to investors. At the same time, supervisors, senior management personnel, and core technical and business the Company, accounting for 15.2767% of the total share capital. Mr. Qin Muyuan we proactively disclosed information on environmental protection, low-carbon innovation, social personnel under the trust plan, no company shares were held before this increase. held 2,034,784 shares of the Company, accounting for 0.0372% of the total share 3.Due to rounding up, there may be slight discrepancies in the above figures. capital.welfare, and corporate governance by publishing the Muyuan: 2022 Annual Environmental, Social, and Governance (ESG) Report and the Muyuan: 2022 Green and Low-Carbon Action Report. This demonstrates our sustainable development practices and continuously enhances the effectiveness and comprehensiveness of our information disclosure. ESG Management ESG principles are a crucial guide for companies to achieve sustainable development. Muyuan is committed to building a Muyuan continues to focus on its core business of pig farming, actively communicating its value to Share the sustainable corporate governance framework, integrating ESG concepts into the Company's management and operations, and stakeholders, and sharing the fruits of its development with investors under the premise of ensuring Fruits of elevating sustainable development to the level of strategic decision-making.sustainable and high-quality growth. Since the listing, Muyuan has strictly followed the profit Development distribution policy established in the Articles of Association to carry out sustainable cash dividends. Since listing, Muyuan has distributed a total of 16.828 billion yuan in dividends (including preferred ESG Management Structure stock and share buybacks). Of this amount, 4.003 billion yuan was paid out in dividends for the year 2023. To ensure the effective implementation of ESG initiatives, Muyuan established a three-tier ESG management structure consisting of "decision-making, organizational, and operational levels". Under this framework, a Sustainable Development Committee We will continue to effectively manage the dynamic balance between performance growth and has been set up, chaired by the Company's Chairman, Qin Yinglin, who is responsible for overseeing the implementation and shareholder returns, adhering to a "long-term, stable, and sustainable" multi-channel mechanism progress of sustainable development strategies. The Sustainable Development Committee also plays a role in assessing and for shareholder rewards, and sharing the fruits of industry and company development with a broad making decisions on significant events related to sustainability.base of shareholders. Dividend Distribution Since IPO Dividend Distribution in 2023The Sustainable Development Committee of the Boards of Directors has established an office, whose responsibilities include carrying out their work. Stakeholder Identification and Communication Specific tasks are advanced and executed by the relevant departments' sustainability working groups to ensure that key ESG issues are effectively addressed, the sustainable development management system operates effectively, and the Company's ESG Muyuan places great emphasis on aligning common goals with stakeholders, including consumers, shareholders, investors, performance is steadily enhanced. Heads of each subsidiary and department are responsible for implementing the Company's government and regulatory bodies, suppliers, employees, communities, and the public. The Company has established a regular ESG-related resolutions based on their actual conditions respectively, ensuring that the Muyuan's ESG philosophy is thoroughly and multi-channel communication mechanism with these parties, actively addressing their concerns and demands. Muyuan implemented and executed throughout the organization. comprehensively identifies risks and opportunities for sustainable development and continuously improves its ESG management and practices. ESG Management System
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