Eastern Materials: Proposed Changes in Controlling Shareholder and Actual Controller

On the evening of May 14th, Dongfang Materials announced that the 13.5 million shares of the company held by controlling shareholder and actual controller Xu Guangbin have been judicially auctioned as unrestricted tradable shares. After this equity change, Xu Guangbin's proportion of the company's total share capital will decrease from 12.15% to 5.44%. Following this equity change, the largest shareholder of the company will become Zhu Junfei, with a 8.84% stake, and the second largest shareholder will become Jiangsu Terri Bright New Materials Technology Co., Ltd., with a 5.96% stake.