Core Viewpoint - The actual controller of Dongfang Materials may change due to the judicial auction of shares held by its controlling shareholder Xu Guangbin, which has significantly reduced his stake from 5.43% to 1.93% [1] Group 1: Company Ownership Changes - Xu Guangbin's 702.41 million shares were auctioned, leading to a potential change in the company's controlling shareholder [1] - Jiangsu Teliang New Materials Technology Co., Ltd. and its concerted party, Wuxi Hongsheng Dingrong Investment Management Partnership, have become the largest shareholders of Dongfang Materials [1] - Teliang is a subsidiary of Kosen Technology, and its actual controller Xu Zhengliang has been listed as a restricted consumer due to legal issues [1][2] Group 2: Financial Performance of Teliang - Teliang's revenue fluctuated from 367 million yuan in 2022 to 264 million yuan in 2023, and then increased to 385 million yuan in 2024; net profit also saw a similar trend [4] - Teliang's products have been certified and applied by well-known companies in the electronics and semiconductor sectors [2] Group 3: Xu Guangbin's Financial Issues - Xu Guangbin's debt problems have led to a significant reduction in his control over Dongfang Materials, with his debts amounting to approximately 45 million yuan in overdue payments [5] - He is involved in multiple legal disputes, with a total amount of approximately 1.279 billion yuan related to ongoing litigation or arbitration [5] Group 4: Future Governance and Investor Concerns - Despite Xu Guangbin's reduced shareholding, he still controls the board with five out of nine seats [5] - Investors have raised questions regarding the timing of the new major shareholder's exit and potential adjustments in the board of directors, but the company has not provided responses [5][7]

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