公告日期：2025-07-01

New Hope Liuhe Co., Ltd.

2024Annual Report

2025-35

[April 26, 2025]

2024Annual Report

Section 1 Important Note, Table of Contents and Definitions

The board of directors, board of supervisors, directors, supervisors and
senior executives of the Company warrant that the contents hereof are true,
accurate and complete, and free of any false recordings, misleading statements or
significant omissions, and that they will be jointly and severally liable forthe legal
consequences.

As declared by Liu Chang (chairman of the Company), Chen Xingyao (chief
accountant) and Su Xiaodan (the person in charge of accounting organization &
accountant in charge): the financial report herein is true, accurate and complete.
All directors of the Company attended the board meeting deliberating this report.
I. Animal disease and natural disaster risks

Animaldiseaseisthemainriskfacedinthedevelopmentoflivestockindustry.
There are two kinds of risks arising out of the occurrence of epidemic disease.
First, the occurrence of epidemic disease is likely to result in death of livestock,
directly resulting in reduced yield, increased costs and lower prices. Second, the
occurrence and prevalence of animal disease on a large scale easily influence the
consumer psychology, leading to a contraction in market demand, and also
affecting the feed production and operation. For example, the first outbreak of
theswinefeverinChinainmiddle2018causedahugeshocktothewholeindustry.Theswinefeverexperiencedaweakenedmutationattheturnofwinterandspring
between the end of 2020 and beginning of 2021, making it more spread channels,

longerincubation time, and more difficult to detectand eliminate.In recent years,
major swine diseases have gradually become normal. Especially in the winter and
early spring when the temperature is low, they have caused particularly severe
impacts in the northern regions of China.

Intermsofthenaturaldisasterrisk,thefeedandsla……
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