East Group's major shareholder equity drops after judicial auction

East Group's major shareholder, Xinping Huimeng New Energy Technology Co., Ltd. (Xinping Huimeng), saw 58,510,000 unrestricted circulating shares, representing 2.5131% of the total share capital, transferred following a judicial auction. This transfer, completed on September 26, 2025, accounts for 33.8788% of Xinping Huimeng’s holdings at the time of auction. An additional 4,100,000 shares from the auction remain untransferred.

Prior to this change, the controlling shareholder and its concerted parties held 917,339,692 shares, or 39.4006% of the company's total share capital. Post-transfer, their collective holdings have decreased to 858,829,692 shares, bringing their stake down to 36.8875%, triggering a 1% integer multiple change in equity.

Concurrently, Guan Yibo resigned as an independent director and from all related committee positions, effective September 30, 2025. This resignation will result in the proportion of independent directors falling below one-third, necessitating a new election by the shareholders.