Shandong Dongyue Organosilicon sees major shareholder's shares transferred

Shandong Dongyue Organosilicon Materials Co., Ltd. announced that 29,853,442 shares held by New Huailian Holdings Co., Ltd. in a dedicated disposal account have been transferred to designated creditors. This transfer represents 2.49% of the company's total share capital. The judicial transfer occurred as part of the execution of a reorganization plan approved by the Beijing No. 1 Intermediate People's Court in February 2024.

Prior to this transfer, New Huailian Holdings Co., Ltd. held 77,276,643 shares, or 6.44% of the company's total share capital. Following the transfer, their holding decreased to 47,423,201 shares, representing 3.95% of the total share capital.

The company clarified that New Huailian Holdings is not its controlling shareholder, nor is it the largest shareholder. The judicial transfer will not lead to a change in the company's control, nor will it affect its governance structure or ongoing operations. The company will continue to monitor the progress of this matter and fulfill its information disclosure obligations.