New East(SH:603110) Mei Ri Jing Ji Xin Wen·2025-08-14 02:35Core Viewpoint - The Anhui Securities Regulatory Commission has ordered Oriental Materials' major shareholders to rectify their actions due to discrepancies in information disclosure, prohibiting them from exercising voting rights on their shares until corrections are made [1][5]. Group 1: Shareholder Actions - In May, Jiangsu Teliang New Materials Technology Co., Ltd. acquired a 5.96% stake in Oriental Materials through auction and stated no plans for further share changes within the next 12 months [2]. - Hongsheng Dingrong Investment Management Partnership, established on May 29, participated in a judicial auction for 3.49% of Oriental Materials' shares, increasing its holdings to 7.0241 million shares by June 30 [3][4]. Group 2: Regulatory Findings - The Anhui Securities Regulatory Commission found that Teliang and Hongsheng Dingrong violated regulations by not disclosing their status as concerted actors in their May 30 report [5]. - The commission has mandated that both companies suspend acquisition activities and submit a written rectification report within 30 days of receiving the regulatory decision [5]. Group 3: Legal and Compliance Considerations - The determination of when a concerted action relationship is established can vary, with two potential methods: factual establishment or formal disclosure [7]. - Legal experts suggest that if decisions and communications occurred before the May 30 report, the concerted action could be recognized from that date rather than the later announcement on June 6 [8].