Core Viewpoint - Tianyi New Materials (688033.SH) anticipates a decline in revenue and net profit for the first three quarters of 2025 compared to the same period last year, indicating ongoing financial challenges for the company [1]. Financial Performance Summary - The company expects revenue for the first three quarters of 2025 to be between 500 million to 600 million yuan, a decrease of 3.92 million to 13.92 million yuan, representing a year-on-year decline of 6.13% to 21.78% [1]. - The projected net profit attributable to shareholders for the same period is expected to be between -420 million to -320 million yuan, reflecting a reduction in losses of 167.20 million to 267.20 million yuan, which corresponds to a year-on-year improvement of 28.47% to 45.50% [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -390 million to -290 million yuan, indicating a reduction in losses of 232.92 million to 332.92 million yuan, translating to a year-on-year improvement of 37.39% to 53.44% [1]. Historical Financial Data - For the first three quarters of 2024, the company reported revenue of 639.19 million yuan, with a total profit of -643.53 million yuan and a net profit attributable to shareholders of -587.20 million yuan [2]. - The company experienced a significant year-on-year revenue decline of 63.85% in 2024, with a net profit attributable to shareholders decreasing by 1,138.31% to -1.495 billion yuan [2]. - The cash flow from operating activities for 2024 was reported at 289 million yuan [2]. Fundraising and Investment - The total amount raised from the company's issuance was 975.32 million yuan, with a net amount of 867.81 million yuan after deducting issuance costs, exceeding the original plan by 222.21 million yuan [3]. - The funds raised are intended for projects including the production of high-performance carbon-ceramic brake discs and the establishment of an automated intelligent weaving production line for carbon-carbon material products [4][5]. - The company has raised a total of 3.294 billion yuan from two fundraising rounds [6].

Core Insights - Tianyi New Materials announced an expected net profit attributable to shareholders of the listed company for the first three quarters of 2025 to be between -420 million to -320 million yuan, indicating a reduction in losses compared to the same period last year [1] - The company anticipates a reduction in losses by 166.7 million to 266.7 million yuan, representing a year-on-year decrease in losses of 28.47% to 45.50% [1]

Core Viewpoint - Tianyi New Materials (688033.SH) expects a decline in revenue and net profit for the first three quarters of 2025, primarily due to the cyclical downturn in the photovoltaic new energy sector and other financial pressures [1] Financial Performance - The projected operating revenue for the first three quarters of 2025 is between 500 million to 600 million yuan, representing a year-on-year decrease of 6.13% to 21.78% [1] - The expected net profit attributable to shareholders for the same period is projected to be between -420 million to -320 million yuan, indicating a year-on-year reduction in losses of 28.47% to 45.50% [1] - The net profit after deducting non-recurring gains and losses is anticipated to be between -390 million to -290 million yuan, reflecting a year-on-year reduction in losses of 37.39% to 53.44% [1] Industry Context - The company's photovoltaic new energy business is experiencing a prolonged downturn due to industry cyclicality, with no significant improvement observed [1] - Contributing factors to the decline in revenue include low product prices, high fixed costs from depreciation and amortization, and elevated financing costs [1] - The reduction in net profit loss compared to the previous year is attributed to the absence of significant inventory impairment provisions, which were substantial in the prior year [1]

Core Viewpoint - Tianyi New Materials (688033.SH) expects a decline in revenue and net profit for the first three quarters of 2025, primarily due to the cyclical downturn in the photovoltaic new energy sector and other financial pressures [1] Financial Performance - The company anticipates revenue between 500 million to 600 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 6.13% to 21.78% [1] - The projected net profit attributable to shareholders is expected to be between -420 million to -320 million yuan, indicating a year-on-year reduction in losses of 28.47% to 45.50% [1] - The net profit after deducting non-recurring gains and losses is forecasted to be between -390 million to -290 million yuan, reflecting a year-on-year reduction in losses of 37.39% to 53.44% [1] Industry Impact - The photovoltaic new energy business continues to be affected by industry cyclicality, resulting in a persistent decline in revenue compared to the same period last year [1] - Factors such as low product prices, high fixed costs from depreciation and amortization, and elevated financing costs have contributed to reduced gross profit and ongoing net losses [1] - The reduction in net losses compared to the previous year is attributed to the absence of significant inventory impairment provisions in the current reporting period, unlike the previous year [1]

Revenue Expectations - The company expects revenue for the first three quarters of 2025 to be between 500 million and 600 million CNY, a decrease of 3.92 million to 13.92 million CNY compared to the same period last year, representing a year-on-year decline of 6.13% to 21.78%[2]. - The company's photovoltaic new energy business continues to be affected by industry cyclicality, leading to a further decline in revenue compared to the same period last year[6]. Net Loss Projections - The estimated net loss attributable to shareholders for the first three quarters of 2025 is projected to be between -420 million and -320 million CNY, reflecting a reduction in loss of 167.20 million to 267.20 million CNY, a year-on-year improvement of 28.47% to 45.50%[2]. - The estimated net loss attributable to shareholders after deducting non-recurring gains and losses is expected to be between -390 million and -290 million CNY, indicating a reduction in loss of 232.92 million to 332.92 million CNY, a year-on-year improvement of 37.39% to 53.44%[2]. - The decrease in gross profit and continued net loss are attributed to low product prices, high fixed costs, and financing costs[6]. - The company did not recognize significant inventory impairment in the current reporting period, unlike the previous year, which contributed to the reduction in net loss[6]. Forecast and Investment Risks - The performance forecast has not been audited by a registered accountant and is based on preliminary calculations by the company's financial department[3][7]. - Investors are advised to pay attention to investment risks as the forecast data is preliminary and the accurate financial data will be disclosed in the official Q3 2025 report[8].

Core Viewpoint - The company, Tianyi New Materials, expects a net profit attributable to shareholders to range from -420 million to -320 million yuan for the first three quarters of 2025, indicating a reduction in losses compared to the previous year [1] Financial Performance - The expected reduction in losses is estimated to be between 167 million to 267 million yuan, representing a year-on-year decrease in losses of 28.47% to 45.50% [1] - The company's operating revenue is anticipated to decline further compared to the same period last year due to the ongoing downturn in the photovoltaic new energy sector, which has not shown significant improvement [1] Cost Factors - The company's gross profit has decreased due to several factors, including persistently low product prices, high depreciation and amortization costs, and elevated financing costs [1] - The net profit remains in a loss state, but the reduction in losses compared to the previous year is primarily attributed to the absence of significant inventory impairment provisions in the current reporting period, unlike the previous year [1]

Core Points - Tianyi New Materials' stock price decreased by 2.09% on October 17, trading at 7.04 CNY per share with a market capitalization of 3.958 billion CNY [1] - The company has seen a year-to-date stock price increase of 22.43% and a recent 5-day increase of 2.33% [2] Financial Performance - For the first half of 2025, Tianyi New Materials reported a revenue of 423 million CNY, a year-on-year decrease of 17.26%, while the net profit attributable to shareholders was -209 million CNY, an increase of 57.52% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 115 million CNY, with 36.495 million CNY distributed over the past three years [3] Business Overview - Tianyi New Materials specializes in the research, production, and sales of powder metallurgy brake pads for high-speed trains and other rail vehicles, with a revenue composition of 39.86% from photovoltaic thermal field components, 28.26% from powder metallurgy brake pads, and 10.20% from precision manufacturing of large aerospace structures [2] - The company is classified under the mechanical equipment industry, specifically in rail transit equipment [2]

Core Viewpoint - The company and its wholly-owned subsidiary have reached a settlement in a lawsuit involving a construction contract dispute, with a total settlement amount of 53.37 million yuan confirmed by the court [1][2][3]. Summary by Sections Basic Situation of the Lawsuit - The company disclosed the lawsuit involving its subsidiary on August 15, 2025, regarding a construction contract dispute with a total claim amount of 53.37 million yuan [2][3]. Mediation Details - The court has issued a civil mediation document confirming the settlement, which includes: 1. The subsidiary, Mianyang Tianyi, owes 53,370,857.59 yuan, to be paid in installments by March 31, 2026, with the remaining amount to be paid in nine monthly installments starting April 2026 [3][4]. 2. If payments are not made on time, the creditor has the right to demand immediate payment of the remaining amount and can apply for enforcement through the court [3][4]. 3. The creditor has priority rights to certain assets in case of default [3][4]. Impact on Financials - The settlement will not have a significant impact on the company's current or future profits, and the company will handle accounting in accordance with relevant standards [2][4].

重要内容提示： 证券代码：688033 证券简称：天宜新材 公告编号：2025-051 北京天宜上佳高新材料股份有限公司 关于公司及全资子公司涉及诉讼的进展公告 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。 2、若被告绵阳天宜上佳新材料有限公司未按第一项约定按期足额付款，则 原告四川省江油市新华建筑工程有限公司有权宣布剩余款项提前到期，并有权就 剩余全部款项向人民法院申请强制执行，且自调解协议约定的履行之日起以未付 金额为基数，按一年期 LPR 向原告四川省江油市新华建筑工程有限公司支付逾 期利息直至付清之日止；本案减半收取案件受理费 157,163 元（原告四川省江油 市新华建筑工程有限公司已预交），若被告绵阳天宜上佳新材料有限公司按上述 第一项调解协议按期足额付款，则本案案件受理费由原告四川省江油市新华建筑 工程有限公司自行承担；若被告绵阳天宜上佳新材料有限公司未按上述第一项调 解协议按期足额付款，则本案案件受理费由被告绵阳天宜上佳新材料有限公司承 担，原告四川省江油市新华建筑工程有限公司有权自任意一期款项逾期次日起 ...

Core Insights - Tianyi Shangjia (688033) investor compensation case has been officially filed in Shanghai Financial Court, with ongoing acceptance of claims from other investors [1] - Guandian Defense (688287) investor compensation case has also been filed, with the firm continuing to accept claims from investors [2] Summary by Relevant Sections Tianyi Shangjia (688033) - The company received a warning letter from Beijing Securities Regulatory Bureau for delayed disclosure of significant events related to its actual controller [1] - Investors who purchased Tianyi Shangjia shares between March 13 and March 15, 2024, and sold or held them after March 15, 2024, may still file for compensation [1] Guandian Defense (688287) - The company was penalized for failing to disclose related party transactions and guarantees, leading to significant omissions in its reports [2] - Investors who bought Guandian Defense shares between May 25, 2022, and April 30, 2024, and sold or held them after April 30, 2024, are eligible to initiate compensation claims [2]