East Group to see control shift as Jingjiang Industrial acquires 18.66% stake

East Group Co., Ltd. announced a significant change in control, with Hubei Jingjiang Industrial Investment Group Co., Ltd. (Jingjiang Industrial) set to become the new controlling shareholder. This follows the signing of a share transfer agreement and a voting rights waiver agreement on December 8, 2025. Jingjiang Industrial will acquire 434,429,514 shares, representing 18.66% of East Group's total share capital, for a total of 2,437,149,573 yuan. Yangzhou Oriental Group Co., Ltd. has irrevocably waived voting rights for its entire 721,966,914 shares (31.01% of total share capital) for five years post-completion.

This new agreement replaces a previously terminated share transfer agreement dated January 8, 2023, between Oriental Group, Guangdong Hengrui Equity Investment Partnership, and Guangwu Group. The prior agreement was terminated due to a failure to reach a consensus on specific arrangements.

Upon completion of the current transaction, Jingjiang Industrial, controlled by the Jingzhou State-owned Assets Supervision and Administration Commission, will become the controlling shareholder of East Group. The company anticipates enhanced financial stability and strategic resource integration, supporting its focus on smart power, data centers, and new energy sectors.