New East(SH:603110) Zheng Quan Shi Bao Wang·2025-07-01 17:08Core Viewpoint - The significant change in the shareholding structure of Dongfang Materials (603110) due to the judicial auction of shares held by its controlling shareholder Xu Guangbin, which may lead to a shift in control of the company [1][3]. Shareholding Changes - Xu Guangbin's 7.0241 million shares were judicially auctioned, representing 64.34% of his holdings and 3.49% of the company's total shares [1]. - Following the auction, Xu's shareholding decreased from 5.43% to 1.93%, indicating a potential change in the company's controlling shareholder [1]. - Jiangsu Teliang New Materials Technology Co., Ltd. became the largest shareholder with a 5.96% stake, while its concerted action partner, Wuxi Hongsheng Dingrong Investment Management Partnership, holds 3.49%, totaling 9.45% [1]. Board Composition - The sixth board of directors of Dongfang Materials consists of 9 members, with 5 nominated by Xu Guangbin and 4 by Zhu Junfei, the second-largest shareholder [1]. Financial and Legal Issues - Xu Guangbin has faced significant financial difficulties, with overdue debts amounting to approximately 45 million yuan and litigation or arbitration cases totaling about 1.279 billion yuan [3]. - Jiangsu Teliang's legal representative, Xu Zhengliang, has been listed as a "restricted consumer" and "dishonest executor" in recent years, raising concerns about the company's governance [2]. Operational Status - The company stated that its production and operational activities remain normal and that the recent changes in shareholding will not significantly impact its operations [3].