Core Viewpoint - Tianyi New Materials (688033.SH) has initiated a pre-restructuring process due to financial difficulties, primarily driven by industry-wide challenges in the photovoltaic sector and increased competition in the rail transit market [1][2][3] Company Overview - Tianyi New Materials is a leading supplier of powder metallurgy brake pads for high-speed trains in China, listed on the Sci-Tech Innovation Board since July 22, 2019 [1] - The company has expanded its product innovation and industrial application strategy in green energy materials, including carbon/carbon composites for photovoltaic new energy, high-performance carbon-ceramic composites for new energy vehicles, and carbon fiber composites for aerospace [1] Industry Challenges - The global photovoltaic industry has entered a deep cyclical adjustment period starting in 2024, characterized by supply-demand mismatches and significant price declines, with core component prices dropping to one-third of their peak [2] - Tianyi New Materials' core products, including photovoltaic carbon/carbon composites and quartz crucibles, are severely impacted due to upstream position in the photovoltaic supply chain [2] - The carbon/carbon composite industry faces overcapacity and price declines, while the quartz crucible sector is experiencing price retraction due to increased volume and reduced prices in photovoltaic products [2] Financial and Operational Impact - Tianyi New Materials has faced significant performance pressure, with multiple lawsuits leading to the freezing of most bank accounts, totaling 133.52 million yuan, which is 3.86% of the company's net assets as of mid-2025 [3] - The company reported total assets of 5.837 billion yuan and a revenue of 564 million yuan for the first three quarters of the year, with a continued reduction in net profit [3] Business Segments and Future Outlook - The company operates in four main business segments: rail transit, photovoltaic new energy, automotive, and aerospace, maintaining advantages in technology development, customer channels, and manufacturing capabilities [4] - The rail transit segment remains a stable foundation for the company, while the photovoltaic new energy segment, despite current challenges, has potential for growth when the industry recovers [4] - The restructuring process is seen as a potential opportunity for the company to alleviate financial burdens and regain operational capabilities, similar to other companies that have successfully navigated through restructuring [4]

Core Viewpoint - Tianyi New Materials (688033.SH) is undergoing a pre-restructuring process initiated by the Beijing First Intermediate People's Court due to its inability to repay debts and lack of assets to cover liabilities [1] Group 1: Court Decision and Company Situation - The court issued a decision on November 7, 2025, to start pre-restructuring for Tianyi New Materials based on the creditor's application citing the company's insolvency [1] - Tianyi New Materials has agreed to the pre-restructuring application and will undertake related obligations during this period [1] - The initiation of pre-restructuring does not guarantee that the court will ultimately accept the restructuring application [1] Group 2: Future Implications - If the court accepts the restructuring application, the company will cooperate with the court and the administrator in the restructuring process and fulfill its legal obligations as a debtor [1] - According to the Shanghai Stock Exchange's regulations, if the court accepts the restructuring application, the company's stock will be subject to delisting risk warnings [1]

Core Viewpoint - Tianyi New Materials (688033.SH) is undergoing a pre-restructuring process initiated by the Beijing First Intermediate People's Court due to its inability to repay debts and insufficient assets to cover liabilities [1] Company Summary - Tianyi New Materials has been applied for restructuring by its creditor, Tianjin Shengyu Automotive Parts Co., Ltd., citing the company's inability to settle due debts and a clear lack of repayment capability [1] - The company has agreed to the pre-restructuring application and will voluntarily undertake related obligations during this period [1] - The court's decision to initiate pre-restructuring does not guarantee that the restructuring application will be accepted, leaving the company's future restructuring status uncertain [1] Industry Summary - If the court later decides to accept the restructuring application, the company will cooperate with the court and the administrator in the restructuring process and fulfill its legal obligations as a debtor [1] - According to the Shanghai Stock Exchange's regulations, if the court accepts the restructuring application, the company's stock will be subject to delisting risk warnings [1]

证券代码：688033 证券简称：天宜新材 公告编号：2025-056 北京天宜上佳高新材料股份有限公司 关于被债权人申请破产预重整的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 1、2025 年 11 月 7 日，北京市第一中级人民法院（以下简称"北京一中院" 或"法院"）出具《决定书》【（2025）京 01 破申 1445 号】（以下简称"决定 书"）。北京天宜上佳高新材料股份有限公司（以下简称"天宜新材""公司" 或"被申请人"）债权人天津晟宇汽车零部件有限公司（以下简称"天津晟宇" 或"申请人"）以公司不能清偿到期债务，资产不足以清偿全部债务且明显缺乏 清偿能力为由，向北京一中院申请对公司进行重整（预重整），公司同意前述申 请事项，并自愿承担预重整期间的相关义务。为有效识别重整价值及可行性，提 高重整成功率，北京一中院决定对公司启动预重整。 2、北京一中院决定对公司启动预重整，不代表北京一中院会最终受理天津 晟宇对公司的重整申请，公司后续是否进入重整程序尚存在不确定性。如后续法 院裁定受理对 ...

Core Viewpoint - Tianyi New Materials (688033) is undergoing a pre-restructuring process initiated by the Beijing First Intermediate People's Court due to its inability to repay debts and insufficient assets to cover all liabilities [1] Group 1: Company Situation - Tianyi New Materials' creditor, Tianjin Shengyu Automotive Parts Co., Ltd., has applied for the company to undergo restructuring based on claims of insolvency and lack of repayment capability [1] - The company has agreed to the restructuring application and will voluntarily assume related obligations during the pre-restructuring period [1] - The court's decision to initiate pre-restructuring does not guarantee that the final restructuring application will be accepted, leaving the company's future restructuring status uncertain [1]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 一、募集资金专户部分资金被司法划扣的基本情况 因北京天宜上佳高新材料股份有限公司（以下简称"公司"）及其全资子公司江油天启光峰新材料技术有 限公司（以下简称"天启光峰"）、公司董事长吴佩芳女士与平安国际融资租赁（天津）有限公司（以下 简称"平安租赁"）融资租赁合同纠纷一案，近日公司募集资金专户部分资金被司法划扣，划扣金额 5,023,604.29元。具体情况如下： ■ 二、募集资金专户部分资金被司法划扣的原因 公司及其子公司天启光峰与平安租赁签订了《售后回租赁合同》。2025年8月公司得知，因公司及其子 公司天启光峰未能按期支付租金，平安租赁向上海市浦东新区人民法院提起诉讼（（2025）沪0115民初 87856号）。截至2025年8月10日，公司及其子公司天启光峰在《售后回租赁合同》项下尚欠原告平安租 赁剩余未付租金33,535,866.10元、留购价款100元，经开庭审议最终各方达成调解。 因公司及其子公司天启光峰未在规定时间完成上述调解书支付义务，平安租赁向上海市浦东新 ...

中信证券股份有限公司 关于北京天宜上佳高新材料股份有限公司 募集资金专户部分资金被司法划扣的核查意见 中信证券股份有限公司（以下简称"中信证券"、"保荐机构"、"持续督导机 构"）作为北京天宜上佳高新材料股份有限公司（以下简称"公司"、"天宜新材"） 2022 年度向特定对象发行股票的保荐机构，根据《证券发行上市保荐业务管理 办法》，对上市公司履行法定持续督导义务至 2024 年 12 月 31 日，由于募集资金 尚未使用完毕，仍需对上市公司募集资金使用相关事项履行持续督导义务，现就 天宜新材募集资金专户部分资金被司法划扣的有关事宜进行了认真、审慎的核 查。核查具体情况如下： 一、募集资金专户部分资金被司法划扣的基本情况 因天宜新材及其全资子公司江油天启光峰新材料技术有限公司（以下简称 "天启光峰"）、公司董事长吴佩芳女士与平安国际融资租赁（天津）有限公司（以 下简称"平安租赁"）融资租赁合同纠纷一案，近日公司募集资金专户部分资金 被司法划扣，划扣金额 5,023,604.29 元。具体情况如下： | 账户名称 | 开户行 | 银行账号 | 划扣金额 | 账户余额 | 账户性质 | 执行 | | --- | ...

证券代码：688033 证券简称：天宜新材 公告编号：2025-055 北京天宜上佳高新材料股份有限公司 关于公司募集资金专户部分资金被司法划扣的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、募集资金专户部分资金被司法划扣的基本情况 因北京天宜上佳高新材料股份有限公司（以下简称"公司"）及其全资子公司 江油天启光峰新材料技术有限公司（以下简称"天启光峰"）、公司董事长吴佩芳 女士与平安国际融资租赁（天津）有限公司（以下简称"平安租赁"）融资租赁合 同纠纷一案，近日公司募集资金专户部分资金被司法划扣，划扣金额 5,023,604.29 元。具体情况如下： | 账户名称 | 开户行 | 银行账号 | 划扣金额 | 账户余额 | 账户性质 | 执行 | | --- | --- | --- | --- | --- | --- | --- | | | | | （元） | （元） | | 法院 | | 北京天宜 上佳高新 | 中国民生银 行股份有限 | 63***8932 | 5,023,604.29 | 8,191.43 ...

Core Viewpoint - Tianyi New Materials announced that part of its fundraising account was judicially frozen due to a dispute over a financing lease contract involving the company, its wholly-owned subsidiary, and its chairman [1] Group 1 - The amount frozen from the fundraising account is 5.0236 million yuan [1] - The dispute involves Tianyi New Materials, its subsidiary Jiangyou Tianqi Guangfeng New Materials Technology Co., Ltd., and Ping An International Financial Leasing (Tianjin) Co., Ltd. [1] - The judicial action indicates potential legal challenges that could impact the company's financial operations [1]

一、首次公开发行股票募集资金基本情况 证券代码：688033 证券简称：天宜新材 公告编号：2025-054 北京天宜上佳高新材料股份有限公司 关于注销募集资金专户的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 北京天宜上佳高新材料股份有限公司（以下简称"公司"）首次公开发行股 票募集资金按照相关法律、法规和规范性文件的规定在银行开立了募集资金专项 账户。近日，公司办理完成"年产 30 万件轨道交通车辆闸片/闸瓦、30 万套汽车 刹车片、412.5 万套汽车配件项目"募集资金专用账户的注销手续，现将具体情 况公告如下： 制定了《北京天宜上佳高新材料股份有限公司募集资金管理制度》（以下简称"《募 集资金管理制度》"），并严格按照该项制度规定进行募集资金的管理和使用。 截至本公告披露日，公司已办理完成上述募集资金专户的注销手续，公司及 子公司天津天宜与相关开户银行、保荐机构签订的监管协议相应终止。 根据中国证券监督管理委员会于 2019 年 7 月 3 日出具的《关于同意北京天 宜上佳高新材料股份有限公司首次公开发行股 ...