Core Viewpoint - Dongfang Materials (603110) is expected to report a net loss for the entire year of 2025, with significant stock price volatility and ongoing business transformation amid regulatory scrutiny [1] Financial Performance - For the year 2025, Dongfang Materials anticipates a net profit loss ranging from 5.9352 million to 7.1066 million yuan, marking a shift from profit to loss year-on-year. The decline in performance is attributed to an approximately 11% decrease in revenue due to industry downturns, costs associated with workforce optimization in the computing power business, increased depreciation of fixed assets in subsidiaries, and adjustments to prior years' tax expenses. The company plans to optimize its product structure to enhance performance [2] Stock Performance - On February 10, 2026, Dongfang Materials' stock price fell by 2.05% to 17.21 yuan per share, with a net outflow of 13.6456 million yuan in principal funds and a turnover rate of 2.20%. Conversely, on February 4, 2026, the stock price rose by 2.13% with a net inflow of 5.1619 million yuan. Year-to-date, the stock has increased by 7.16%, but only 1.41% over the past 60 days, indicating significant short-term volatility [3] Business Development - The company is advancing its diversification strategy, focusing on areas such as computing power services, new energy battery materials, and high-performance fibers. On December 9, 2025, due to governance structure optimization and shareholder increases, the stock price hit the daily limit. The computing power business accounted for 6.2% of revenue in 2024, with clients including Liu'an Mobile and SenseTime. However, adjustments made in 2025 to the computing power business have led to increased costs [4] Regulatory Situation - On September 24, 2025, the company was ordered by the Anhui Securities Regulatory Bureau to rectify issues related to non-compliance with accounting standards and inadequate internal controls, which were recorded in the securities and futures market integrity archive. The company stated that this does not affect its daily operations. Additionally, in 2025, the Huazheng Index ESG rating was classified as C, ranking 489th out of 494 companies in the industry, with low scores in environmental and social categories [5] Shareholder Situation - As of September 30, 2025, the number of shareholders decreased by 22.24% to 28,600, with an increase in average circulating shares, indicating a rise in share concentration. In terms of institutional holdings, the China Post Core Advantage Flexible Allocation Mixed Fund has exited the top ten circulating shareholders. Historical shareholder increases may influence market sentiment [6]

Core Viewpoint - 2025 is a tumultuous year for Dongfang Materials (603110.SH), marked by the loss of control by its actual controller Xu Guangbin due to debt issues, a significant drop in shareholding, and a new shareholder's violation of commitments, alongside declining revenues and profits in its core business of inks and adhesives, leading to an expected annual loss [1][21]. Shareholder Changes - Xu Guangbin's debt crisis has led to a drastic reduction in his shareholding from 13.54% to 1.34%, resulting in the loss of his position as the largest shareholder [3][5]. - Xu has been involved in 22 instances of judicial enforcement and consumption restrictions, severely impacting the company's operational stability and market confidence [3][23]. - The new shareholder, Jiangsu Teliang New Materials Technology Co., Ltd., acquired 12 million shares (5.96% of total shares) through judicial auction but violated a commitment not to increase or decrease holdings within 12 months shortly after the acquisition [6][26]. Business Performance - Dongfang Materials' core business of inks and adhesives, which accounts for over 90% of revenue, is facing significant challenges due to industry downturns and intense competition, leading to declining revenues and profits [11][29]. - For the first three quarters of 2025, the company reported revenues of 279 million yuan, a year-on-year decline of 7.41%, and a net profit attributable to shareholders of 3.19 million yuan, down 75% year-on-year [30]. - The company anticipates a net loss of 5.94 million to 7.11 million yuan for the entire year of 2025, a stark contrast to a net profit of 13.96 million yuan in 2024 [12][30]. Cross-Industry Ventures - In response to the pressures on its core business, Dongfang Materials has attempted to diversify into new areas, including the AI-driven computing power sector and investments in nanocarbon materials, but these efforts have been controversial and unprofitable [13][20]. - The computing power business, managed by two subsidiaries, reported combined revenues of only 13.16 million yuan with significant operating losses, indicating a lack of profitability [14][32]. - The investment in the nanocarbon materials company, which has a high debt ratio and has reported continuous losses, raises concerns about the viability and risk of such ventures [19][36].

Core Viewpoint - 2025 is a tumultuous year for Dongfang Materials (603110.SH), marked by significant ownership changes, financial struggles, and operational challenges, leading to a projected annual loss [1][8]. Ownership Changes - The actual controller Xu Guangbin's shareholding plummeted from 13.54% to 1.34% due to debt issues, resulting in the loss of his status as the largest shareholder [3][4]. - Xu Guangbin faced 22 instances of judicial enforcement and consumption restrictions, severely impacting the company's stability and market confidence [1][3]. - New shareholder Teliang, after acquiring shares through judicial auction, violated a commitment not to increase or decrease holdings within 12 months, prompting regulatory scrutiny [5][6]. Financial Performance - Dongfang Materials' core businesses, ink and adhesive products, which account for over 90% of revenue, are suffering from industry downturns, leading to declining revenue and profits [8][9]. - For the first three quarters of 2025, the company reported revenue of 279 million yuan, a year-on-year decline of 7.41%, and a net profit of 3.19 million yuan, down 75% [9]. - The company anticipates a net loss of 5.94 million to 7.11 million yuan for the entire year of 2025, a stark contrast to a profit of 13.96 million yuan in 2024 [9][10]. Operational Challenges - Despite declining revenue, sales expenses increased by 10.55% to 24.67 million yuan in the first three quarters of 2025, indicating a misalignment in cost management [9][10]. - The company has not effectively optimized its product structure or improved technology, instead relying on cross-industry ventures that have not yielded positive results [10][11]. Cross-Industry Ventures - Dongfang Materials attempted to pivot into the AI and computing power sectors, but these efforts have not generated significant returns, leading to operational losses [11][12]. - The company invested 18 million yuan in a high-risk nanocarbon material firm, which has been consistently losing money and has a high debt ratio, raising concerns about its viability [14][15].

证券代码：603110 证券简称：东方材料 公告编号：2026-008 新东方新材料股份有限公司 关于调整第六届董事会各专门委员会委员的公告 特此公告。 新东方新材料股份有限公司董事会 2026 年 2 月 6 日 鉴于公司董事会成员已完成调整，为完善公司治理结构，保证公司董事会和董事会各 专门委员会的规范运作，根据公司章程、公司董事会各专门委员会工作细则等有关规定， 由公司董事长庄盛鑫先生提名，补选董事韩雨辰先生为战略委员会委员；补选独立董事张 莹先生为审计委员会、提名委员会、薪酬与考核委员会委员，并担任审计委员会主任委员 （即召集人）；补选吴晓俊先生为审计委员会、薪酬与考核委员会委员，并担任薪酬与考 核委员会主任委员（即召集人）；补选李素珍女士为薪酬与考核委员会委员。独立董事吴 波先生不再担任审计委员会委员。本次调整的各专门委员会委员任期均自本次董事会审议 通过之日起至公司第六届董事会任期届满止。 | 专门委员会 | 委员 | 主任委员（召集人） | | --- | --- | --- | | 战略委员会 | 庄盛鑫、韩雨辰、吴波 | 庄盛鑫 | | 审计委员会 | 张莹、侯铁成、吴晓俊 | 张莹 | | ...

新东方新材料股份有限公司 2026年第一次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 证券代码：603110 证券简称：东方材料 公告编号：2026-007 | 议案序号 | 议案名称 | 得票数 | 得票数占出席 | 是否当选 | | --- | --- | --- | --- | --- | | | | | 会议有效表决 | | (一) 股东会召开的时间：2026 年 2 月 2 日 (二) 股东会召开的地点：上海市徐汇区云锦路 700 号西岸智塔西塔楼 35 层会 议室 (五) 公司董事和董事会秘书的列席情况 1、 公司在任董事9人，列席9人。 2、 董事会秘书出席会议，公司财务总监列席会议。 | | 权的比例（%） | | | | | --- | --- | --- | --- | --- | | 1.01 | 张莹 | 43,167,012 | 98.5754 | 是 | 本次会议是否有否决议案：无 一、 会议召开和出席情况 (三) 出席会议的普通股股东和恢复表决权的优先股股东 ...

FANGDA PARTNERS http://www.fangdalaw.com 中国上海市石门一路 288 号 电子邮件 E-mail: email@fangdalaw.com 兴业太古汇香港兴业中心二座 24 楼 电 话 Tel.: +86-21-2208 1166 邮政编码：200041 传 真 Fax.: +86-21-5298 5599 24/F, HKRI Centre Two HKRI Taikoo Hui 288 Shi Men Yi Road Shanghai, PRC 200041 上海市方达律师事务所 关于新东方新材料股份有限公司 2026 年第一次临时股东会的法律意见书 致：新东方新材料股份有限公司 上海市方达律师事务所（以下简称"本所"）是具有中华人民共和国境内法律 执业资格的律师事务所。根据相关法律顾问协议，本所指派律师出席新东方新材 料股份有限公司（以下简称"公司"）2026 年第一次临时股东会（以下简称"本 次股东会"），并就本次股东会的召集和召开程序、参与表决和召集会议人员的资 格、表决程序和表决结果等有关事宜出具本法律意见书。 本法律意见书依据《中华人民共和国公司法》《中华 ...

Core Viewpoint - The water-based ink industry is facing challenges in China, with a projected market size of 320 million yuan by 2025, showing a slight increase of 1.9% year-on-year, while the industry has been experiencing a downward trend since 2020 due to weak market demand [1][9]. Industry Overview - Water-based ink is an intermediate product formed during the pigment preparation process, simplifying production processes for ink customers and reducing pollutant emissions [3][9]. - The production process of water-based ink involves physical changes without chemical reactions, making it distinct from traditional pigments [4][5]. Industry Chain - The upstream of the water-based ink industry includes raw materials such as pigments, binders, and additives, while the midstream involves the production of water-based ink, and the downstream is the ink industry, which serves various packaging and printing markets [5][6]. Market Size and Trends - The Chinese water-based ink market has been declining since 2020, with a projected market size of 320 million yuan by 2025, reflecting a slight year-on-year increase of 1.9% [1][10]. - The overall ink market in China is expected to reach 18.374 billion yuan by 2024, with a year-on-year growth of 6.7%, driven by the demand for environmentally friendly inks in various sectors [8][9]. Competitive Landscape - The water-based ink industry in China consists of organic pigment companies and ink companies, with key players including Longkou United Chemical Co., Ltd. and Hanghua Ink Co., Ltd. [10][11]. - Longkou United Chemical Co., Ltd. has a production capacity of 3,000 tons of water-based ink and has been facing a decline in revenue, with a reported income of 7.4126 million yuan in the first half of 2025, down 6.55% year-on-year [11]. - Hanghua Ink Co., Ltd. reported a revenue of 907 million yuan in the first three quarters of 2025, a decrease of 1.62% year-on-year, with a net profit decline of 25% [11][12]. Future Development Trends - The demand for water-based ink is expected to increase due to the steady development of downstream industries, which require high-performance ink products with low impurity content [11]. - The industry is likely to see increased concentration, with leading companies expanding market share through mergers and acquisitions, while smaller firms focus on niche markets [11]. - Domestic companies are expected to accelerate international expansion and enhance competitiveness by adopting advanced technologies and management practices [11].

Core Viewpoint - The company, New Oriental Materials Co., Ltd., anticipates a significant net loss for the fiscal year 2025, with projected losses ranging from 5.94 million to 7.11 million yuan, indicating a downturn compared to the previous year's profit [2][5]. Group 1: Performance Forecast - The company expects a net profit attributable to shareholders of the parent company to be between -5.9352 million and -7.1066 million yuan for the year 2025 [2][3]. - The projected net profit after deducting non-recurring gains and losses is estimated to be between -6.3097 million and -7.4811 million yuan [3]. Group 2: Previous Year Performance - In the previous year, the net profit attributable to shareholders was 13.9574 million yuan, with a net profit of 11.3618 million yuan after excluding non-recurring items [5]. - The earnings per share for the previous year were reported at 0.07 yuan [6]. Group 3: Reasons for Expected Loss - The company's main business, which includes food and pharmaceutical soft packaging inks and polyurethane adhesives, is experiencing a downturn, leading to an estimated 11% decline in sales revenue for 2025 [7]. - Adjustments in the computing business and personnel optimization have resulted in increased expenses due to severance compensations [8]. - The completion of construction projects at the wholly-owned subsidiary, New Oriental Materials (Tengzhou) Co., Ltd., has led to increased depreciation expenses, along with the restatement of prior years' corporate income tax and penalties [8].

Core Viewpoint - Dongfang Materials announced an expected net profit attributable to the parent company for the year 2025 to be between -5.9352 million and -7.1066 million yuan, indicating a projected loss for the year [2] Financial Performance - The expected net profit attributable to the parent company, excluding non-recurring gains and losses, is projected to be between -6.3097 million and -7.4811 million yuan for the year 2025 [2]

Core Viewpoint - Dongfang Materials (603110.SH) expects to report a net profit attributable to shareholders of the parent company for the year 2025 in the range of -5.9352 million to -7.1066 million yuan, indicating a projected loss [1] Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, for the year 2025 to be between -6.3097 million and -7.4811 million yuan [1]