New East New Materials announced that Mr. Xu Guangbin, the controlling shareholder and actual controller of the company, has passively reduced his holdings of the company's stocks through a combination of centralized bidding and bulk trading. The number of shares passively reduced this time is 4.03 million shares, accounting for 14.7868% of the shares held by him, and 2.0027% of the total share capital of the company. The passive reduction will take place 15 trading days after the announcement of the reduction plan. After the above-mentioned passive reduction is completed, Mr. Xu Guangbin's shareholding will change to 23.2241 million shares, accounting for 11.5413% of the total share capital of the company. The partial shares held by the controlling shareholder and actual controller will not affect the stability of the company's control rights through judicial execution, and Mr. Xu Guangbin will remain the controlling shareholder and actual controller of the company.