Oriental Energy controlling shareholder group completes share increase

Jiangsu Golden Harvest Law Firm issued a legal opinion confirming that persons acting in concert with Oriental Energy's controlling shareholder have completed their planned share increase. The increase was carried out by Masen Energy (Zhangjiagang) Co., Ltd., an entity controlled by Oriental Energy's actual controllers, Wang Mingxiang and Zhou Yifeng.

The share increase involved Masen Energy (Zhangjiagang) acquiring 31,520,000 shares through centralized bidding on the Shenzhen Stock Exchange between September 22 and September 30, 2025. This acquisition represents 2.00% of the company's total share capital, with a cumulative investment of CNY 27,715.29万元. The transaction aligns with the previously disclosed plan to increase holdings by 1.9% to 2% of total share capital, as announced on April 9, 2025.

Following the completion, Wang Mingxiang, Zhou Yifeng, and their concert parties now collectively hold 672,471,994 shares, accounting for 42.67% of Oriental Energy's total share capital. The legal opinion confirms that the increase complies with relevant securities laws and regulations, and is exempt from a tender offer.