Core Viewpoint - The control of Dongfang Materials (603110.SH) is shifting due to the judicial auction of shares held by Xu Guangbin, which may lead to a change in the company's major shareholder and actual controller [1][2][3]. Company Overview - Dongfang Materials was established in 1994 and listed on the Shanghai Stock Exchange in 2017, primarily engaged in the production and sales of soft packaging inks, polyurethane adhesives for composites, and PCB electronic inks [4]. - The company has experienced fluctuating performance under Xu Guangbin's leadership, with revenues of 396 million yuan, 404 million yuan, 394 million yuan, and 436 million yuan from 2021 to 2024, and net profits of 56 million yuan, 20 million yuan, 52 million yuan, and 14 million yuan during the same period [16]. Shareholder Changes - Xu Guangbin's shareholding has been subject to multiple judicial auctions, and if the recent auction of 13.5 million shares is completed, his stake will drop to 5.44%, resulting in a new major shareholder, Zhu Junfei, holding 8.84% [1][13]. - The second-largest shareholder will be Jiangsu Teliang New Materials Technology Co., Ltd., with a 5.96% stake [13]. - Xu Guangbin's financial troubles have been highlighted, with overdue debts amounting to approximately 45 million yuan and litigation or arbitration cases totaling about 1.279 billion yuan [13]. Market Performance - As of May 15, Dongfang Materials' stock closed at 17.01 yuan, reflecting a decline of 3.95% and a total market capitalization of 3.423 billion yuan [2]. - The stock price has dropped nearly 50% from around 31 yuan per share in early 2021, indicating significant market depreciation [22]. Future Outlook - The future control of Dongfang Materials remains uncertain, with the potential for Zhu Junfei and Jiangsu Teliang New Materials to influence the company's direction [15][19]. - The company attempted to acquire a 51% stake in Nokia's TD TECH in 2023 but was unsuccessful, and its newly established subsidiary, Dongfang Supercomputing, has reported losses of 915,500 yuan and 4.4671 million yuan in 2023 and 2024, respectively [18].

证券代码：603110 证券简称：东方材料 公告编号：2025-011 一、报告期内主要产品的产量、销量及收入实现情况(不含税) 2024 年 1-12 月，公司主营业务（产品）收入产销情况如下： | 主要产品 | 产量（吨） | 销量（吨） | 营业收入(万元) | | --- | --- | --- | --- | | 包装油墨 | 14,067.97 | 14,203.12 | 27,159.32 | | 聚氨酯胶粘剂 | 7,435.97 | 7,318.82 | 11,832.41 | | 电子油墨 | 298.97 | 303.89 | 1,782.06 | 二、报告期内主要产品和原材料的价格变动情况 （一）主要产品销售价格变动情况(不含税) 新东方新材料股份有限公司 2024 年年度主要经营数据公告 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。 新东方新材料股份有限公司（以下简称"公司"）根据上海证券交易所《上 市公司行业信息披露指引第十三号——化工》（2022 年修订）有关规定和披露 要求，现将 2024 年 ...