East Group completes share transfer after judicial auction

East Group announced the completion of the transfer of 500,000 shares held by its major shareholder's concert party, Xinping Huimeng New Energy Technology Co., Ltd. These shares were part of a larger 62,610,000-share judicial auction. Including this latest transfer, 62,110,000 shares from the auction have now been successfully registered, with 500,000 shares still pending transfer.

Prior to this transfer, East Group's largest shareholder and its concert parties collectively held 855,729,692 shares, accounting for 36.7544% of the total share capital. Following the transfer, their combined holdings passively decreased to 855,229,692 shares, reducing their proportional stake to 36.7329%. The company reiterates that it currently has no controlling shareholder or de facto controller, and this auction and transfer will not alter the company's actual control.

East Group emphasizes that the company maintains independence from its shareholders in terms of assets, operations, and finances. The share auction and transfer are not expected to materially adversely affect the company's production and operations, which remain normal and orderly. The company will continue to monitor the progress of the remaining share transfer and fulfill its information disclosure obligations.