Gelonghui October 22?Yashili International (01230.HK)Announced on October 22, 2021, the company andChina Mengniu DairyEnter into a framework agreement on the assignment of accounts receivable, under which, during the period of the framework agreement on the assignment of accounts receivable, the company (on behalf of the Group) agrees to transfer from time to time, while China Mengniu Dairy (on behalf of Mengniu Group) agrees to accept accounts receivable from time to time.

It is expected that after the accounts receivable are accepted by Mengniu Group, they will become part of the relevant assets of the asset-backed securities program to be established by Mengniu Group. After the Group completes the transfer of the relevant accounts receivable to the Mengniu Group, the Mengniu Group, as the owner of the relevant accounts receivable, will bear all risks and receive all income from the relevant accounts receivable. Under the framework agreement on the assignment of accounts receivable, the group is not responsibleRepurchaseAccounts receivable that have been transferred to Mengniu Group. The price charged by the Group to Mengniu Group will not be affected by the collection of future accounts receivable.