格隆汇1月22日丨天宜新材(688033.SH)在互动平台表示，目前公司控股子公司北京天仁道和新材料有限 公司与彩虹无人机、腾盾无人机等公司仍保持有密切的业务合作。2023年天仁道和自主开发的中温增韧 碳纤维预浸料，完成EVTOL专用碳纤维预浸料多批次许用值验证，在上海时的科技E20飞行器上得到整 机应用。2024年至今，天仁道和与时的科技暂无新增合作项目。 ...

天宜新材（688033.SH）1月22日在投资者互动平台表示，目前公司控股子公司北京天仁道和新材料有 限公司与彩虹无人机、腾盾无人机等公司仍保持有密切的业务合作。2023年天仁道和自主开发的中温增 韧碳纤维预浸料，完成EVTOL专用碳纤维预浸料多批次许用值验证，在上海时的科技E20飞行器上得到 整机应用。2024年至今，天仁道和与时的科技暂无新增合作项目。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：低空飞行器高端复合材料和结构件是我们主要的业务 增长板块，请介绍下我们和彩虹无人机、腾盾无人机、以及时的科技EVTOL的是否还保持合作？ ...

Core Viewpoint - Tianyi New Materials (688033.SH) is facing severe financial difficulties, including continuous losses and a funding crisis, leading to a management reshuffle with Yang Kailin returning as president to address these challenges [1][11]. Group 1: Management Changes - Yang Kailin, daughter of the controlling shareholder Wu Peifang, has been reappointed as president of Tianyi New Materials, marking her return to the role after a previous resignation in May 2025 [2][12]. - Yang holds a total of 0.1% of the company's shares and has held various positions within the company since 2013 [2][12]. Group 2: Financial Performance - In 2024, Tianyi New Materials reported a revenue of 763 million yuan, a 63.85% decrease year-on-year, and a net loss of 1.495 billion yuan, a drop of 1138.31% [3][14]. - For the first three quarters of 2025, the company’s revenue decreased by 11.69% to 564 million yuan, with a net loss of 371 million yuan, despite a 36.82% year-on-year increase in net profit [4][14]. Group 3: Business Challenges - The company's photovoltaic business has significantly declined due to market fluctuations and intense price competition, resulting in a 79.63% drop in revenue for 2024 [5][15]. - The gross margin for the photovoltaic segment plummeted from 31.52% in 2023 to -85.41% in 2024 due to falling product prices and cost pressures [6][15]. Group 4: Operational Issues - Tianyi New Materials' subsidiaries, Tianqi Yiyang and Xinyi Yang, have been forced to temporarily halt production due to low capacity utilization rates of 14.66% and ongoing losses [7][16]. - The company has a total of 28 quartz crucible production lines, but only 11 million units are currently usable due to ongoing upgrades [6][16]. Group 5: Debt and Legal Issues - The company is experiencing a severe liquidity crisis, with cash reserves of only 187 million yuan against short-term debts of 1.039 billion yuan [8][17]. - As of October 1, 2025, Tianyi New Materials was involved in 22 legal cases with a total claim amount of approximately 226 million yuan, leading to significant restrictions on its bank accounts [8][18]. Group 6: Project Delays - Due to financial constraints and legal issues, two major fundraising projects have been postponed from December 31, 2025, to December 31, 2026 [9][19].

Core Viewpoint - Ceramic matrix composites (CMC) exhibit excellent high-temperature performance and have broad applications in aerospace, nuclear power, and automotive industries, with significant market potential. China leads in brake and thermal protection for aircraft but lags in aerospace engine applications. The demand for CMC in China's aerospace industry may reach a turning point in 2024, driven by advancements in production technology and cost reductions [2][9]. Group 1: CMC Characteristics and Applications - CMCs are defined as composites that incorporate reinforcing materials into a ceramic matrix, resulting in superior properties such as high-temperature resistance, low density, and high strength [4][18]. - SiCf/SiC composites are ideal materials for the hot sections of aerospace engines, already in mass production for static components, with ongoing exploration for rotating parts [5][24]. - In the nuclear sector, SiCf/SiC composites are considered ideal candidates for reactor components due to their high melting point, thermal conductivity, and stability under neutron irradiation [42]. - Cf/SiC composites are widely used in aerospace for thermal protection and satellite mirrors, effectively addressing the thermal protection and weight reduction needs of hypersonic vehicles [46][49]. - CMCs are emerging as the preferred choice for high-performance brake materials, already in mass production for automotive and aviation applications [53][54]. Group 2: Market Growth and Trends - The global CMC market was valued at $11.9 billion in 2022 and is projected to grow at a CAGR of 10.5%, reaching $21.6 billion by 2028, with the highest market share in defense and aerospace [6]. - The demand for CMCs in the aerospace sector is expected to surge, particularly for SiCf/SiC materials, as they can withstand temperatures exceeding 2000K, significantly improving engine efficiency and reducing nitrogen oxide emissions [27][30]. Group 3: CMC Production and Industry Landscape - The production of CMC components involves complex processes with high barriers to entry, including fiber preparation, preform weaving, interface layer preparation, matrix densification, and machining [7][8]. - GE has established a vertically integrated CMC supply chain, producing 20 tons of CMC prepreg and 10 tons of SiC fibers annually, with a tenfold increase in CMC component production expected over the next decade [8][39]. - China's CMC industry has developed a relatively complete supply chain, with advancements in the production of second-generation SiC fibers and ongoing efforts to achieve industrial-scale production of third-generation fibers [9][12]. Group 4: Investment Opportunities - The anticipated turning point in demand for CMCs in China's aerospace industry in 2024 presents significant growth potential for related companies, particularly as production costs decrease and application maturity increases [13]. - The verification phase for SiCf/SiC applications will drive demand for upstream raw materials, with the potential for rapid growth in midstream CMC component manufacturing as production scales up [13].

Market Overview - The rail transit equipment sector experienced a decline of 0.62% on January 16, with Bidu Technology leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Stock Performance - Notable gainers in the rail transit equipment sector included: - Gongda Gaoke (688367) with a closing price of 32.95, up 4.90% on a trading volume of 45,000 shares and a turnover of 146 million yuan [1] - Jiaoda Sino (300851) closed at 29.63, up 4.40% with a trading volume of 57,400 shares and a turnover of 174 million yuan [1] - Xianghe Industry (603500) closed at 12.96, up 3.43% with a trading volume of 87,000 shares and a turnover of 111 million yuan [1] Fund Flow Analysis - The rail transit equipment sector saw a net outflow of 79.08 million yuan from institutional investors, while retail investors experienced a net outflow of 75.46 million yuan [2] - Conversely, speculative funds recorded a net inflow of 155 million yuan [2] Individual Stock Fund Flow - China Railway Industry (600528) had a net inflow of 37.40 million yuan from institutional investors, but a net outflow of 34.22 million yuan from retail investors [3] - China Communication Signal (688009) saw a net inflow of 3.34 million yuan from institutional investors, while retail investors had a net outflow of 55.10 million yuan [3] - Xianghe Industry (603500) experienced a net inflow of 16.07 million yuan from institutional investors, with retail investors seeing a net outflow of 4.64 million yuan [3]

Core Viewpoint - Tianyi New Materials (SH688033) has appointed Yang Kailin as the new president, marking her return to the position after resigning due to strategic adjustments in May 2025. The company is facing significant financial challenges, with projected losses for 2025. Group 1: Leadership Changes - Yang Kailin, born in October 1990, has been appointed as the president of Tianyi New Materials, with her term starting from the board's approval until the end of the third board term [1] - Yang Kailin has held various positions within the company since 2013, including general manager and vice chairman [1] - The company’s chairman, Wu Peifang, is Yang Kailin's mother and has been in leadership roles since 2009 [4] Group 2: Financial Performance - Tianyi New Materials reported a revenue of 763 million yuan in 2024, a year-on-year decrease of 63.85% [5] - The company is expected to report a net loss of 1.495 billion yuan for 2025, marking its first annual loss since going public [5] - The company anticipates continued operational losses for the fiscal year 2025 [4]

证券日报网讯 1月15日，天宜新材发布公告称，公司董事会同意聘任杨铠璘女士为公司总裁，任期自公 司董事会审议通过之日起至第三届董事会任期届满之日止。 （文章来源：证券日报） ...

Core Viewpoint - Tianyi New Materials (688033) appointed Yang Kailin as the new president, with her term starting from January 15, 2026, amid significant financial challenges including expected losses and legal issues [1][3]. Group 1: Management Changes - Yang Kailin, daughter of the company's actual controller and chairman Wu Peifang, has been appointed as president, with her qualifications meeting legal and regulatory requirements [1][2]. - Yang Kailin holds a total of 0.10% of the company's shares, with 0.01% directly and 0.09% indirectly through a partnership [2]. Group 2: Financial Performance - Tianyi New Materials reported a significant decline in revenue, with 2024 revenue at 763 million CNY, down 63.85% year-on-year, and a net loss of 1.495 billion CNY, marking the first annual loss since its listing [4]. - For the first three quarters of 2025, the company achieved total revenue of 564 million CNY, a decrease of 11.69% year-on-year, with a net loss of 371 million CNY, an improvement from a loss of 587 million CNY in the same period last year [6]. Group 3: Operational Challenges - The company is facing severe financial difficulties, including a projected negative net profit for 2025 and significant debt issues, with 46.21 million CNY in assets frozen by the court and 39.52 million CNY in fundraising being forcibly deducted [3]. - Legal actions from multiple financial institutions and suppliers due to outstanding debts have led to the freezing of several bank accounts, severely impacting daily operations [3].

证券代码：688033 证券简称：天宜新材 公告编号：2026-004 北京天宜上佳高新材料股份有限公司 关于聘任高级管理人员的公告 1 附件： 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"）于 2026 年 1 月 15 日召开第三届董事会第四十六次会议，审议通过了《关于聘任总裁的议案》， 具体情况如下： 根据公司经营管理需要，按照《中华人民共和国公司法》（以下简称"《公 司法》"）《公司章程》及其他法律法规相关规定，经董事会提名委员会审查通 过，公司董事会同意聘任杨铠璘女士为公司总裁（简历详见附件），任期自公司 董事会审议通过之日起至第三届董事会任期届满之日止。 杨铠璘女士具备与其行使职权相适应的任职条件，其任职资格符合《公司法》 《上海证券交易所科创板股票上市规则》等法律法规以及《公司章程》等有关规 定，具备履行高级管理人员职责的能力。 特此公告。 北京天宜上佳高新材料股份有限公司 董事会 2026 年 1 月 16 日 截至本公告披露日，杨铠璘女士直接持有公司 ...

格隆汇1月15日丨天宜新材（维权）(688033.SH)公布，根据公司经营管理需要，按照《中华人民共和国 公司法》《公司章程》及其他法律法规相关规定，经董事会提名委员会审查通过，公司董事会同意聘任 杨铠璘女士为公司总裁，任期自公司董事会审议通过之日起至第三届董事会任期届满之日止。 ...