The Institutional Investor, known for its strictness, objectivity and professionalism in its selection, is one of the selection activities receiving the most attentions from global investment institutions. Its ranking results provide a reliable reference of investment research for global investment institutions, and entail high credibility and reliability in the investor relations management. In 2022, the competition was very fierce as there were more companies than ever participating in the selection organized by the Institutional Investor. 1,612 listed companies and 2,606 individuals from 18 industries in Asia were nominated, and 4,854 fund managers and 670 sell-side analysts from 1,521 leading professional investment institutions worldwide participated in the voting. The number of investors and analysts with voting rights increased by 35% as compared to that of last year.

Modern Dairy, as a leading enterprise in the dairy industry, has a strong leadership management team and excellent professionals. With efficient operation and strict management, Modern Dairy has achieved a new level in its scale, performance, quality and efficiency year by year. In addition, while focusing on the core business, Modern Dairy also attaches great importance to the practice of the ESG philosophy, quality safety and environmental protection and carbon emission reduection. The Company has pioneered the integrated breeding model of “Planting, Breeding and Processing”, making reasonable utilization of farming waste (processed into fertilizer) and field waste straw (made into fodder). Leverage on its advantages, Modern Dairy helps the surrounding villages to broaden employment channels and provide employment opportunities, generously donates money and materials to underprivileged households and subsidizes the local government to build infrastructure facilities for underprivileged villages. In April this year, the Company joined the United Nations Global Compact (UNGC). Meanwhile, Modern Dairy filled in the questionnaire of the Dow Jones Sustainability Indexes (DJSI) and the total ESG score of Modern Dairy is 21while the average ESG score of 341 companies in the same industry around the world is 20, an overall increase of 17 points compared with last year, representing a significant improvement.

Modern Dairy performs well in capital market as well, winning the favor of many domestic and international financial institutions. Year to date, CLSA, Daiwa Securities, CITIC Securities, CICC, Haitong Securities and Macquarie have successively issued research reports with "buy" or "outperform" rating on Modern Dairy. On 16 June 2022, S&P issued its updated rating, in which Modern Dairy once again received an investment grade BBB with a "stable" outlook. Modern Dairy is the first dairy farming company in the world to receive international credit ratings of investment grade for two consecutive years. The investment grade credit rating shows the international institution highly recognizes the Company and scale-farming industry in China and enables the industry to establish good image in the capital market.