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]

Core Viewpoint - The Shanghai Stock Exchange issued a regulatory work letter to Beijing Tianyi Shangjia High-tech Materials Co., Ltd. regarding the freezing of the company's bank accounts and related litigation matters [1] Financial Impact - As of the announcement date, the total amount of restricted bank accounts for Tianyi New Materials and its subsidiaries is 133.52 million yuan, accounting for 3.64% of the company's audited net assets for the end of 2024 and 3.86% for the end of the first half of 2025 [2] - The frozen amount totals 78.80 million yuan, while the amount under payment stop is 54.72 million yuan [2] - The restricted amount in the fundraising special account is 116.69 million yuan, which is 77.12% of the balance as of June 30, 2025 [3] - The company is involved in 22 ongoing lawsuits with a total claim amount of approximately 226 million yuan, representing 6.15% of the audited net assets for the end of 2024 [3] Operational Performance - For the first half of 2025, the company reported revenue of 423 million yuan, a year-on-year decrease of 17.26%, and a net profit attributable to shareholders of -209 million yuan, improving from -493 million yuan in the same period last year [4] - In 2024, the company reported revenue of 763 million yuan, a year-on-year decrease of 63.85%, and a net profit attributable to shareholders of -1.495 billion yuan, a decrease of 1138.31% [4] - The net cash flow from operating activities for the first half of 2025 was 160 million yuan, a significant increase of 328.42% [4] Stock Performance - Tianyi New Materials was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 22, 2019, with an initial issuance of 47.88 million shares at a price of 20.37 yuan per share [4] - The company's stock is currently in a state of decline, having reached a peak of 64.80 yuan shortly after its listing [4] Fundraising Activities - The total amount raised by the company 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 [5] - The funds were intended for projects related to the production of braking components for rail transit and the establishment of a marketing and service network [5] - The company has raised a total of 3.294 billion yuan from two fundraising activities [6]

Core Viewpoint - Tianyi New Materials is facing significant financial pressure due to the freezing of bank accounts and ongoing lawsuits, which could severely impact its normal operations and liquidity [1][2][3] Financial Situation - As of the announcement date, the total amount of restricted bank accounts for Tianyi New Materials and its subsidiaries reached 133.52 million yuan, accounting for 3.64% of the audited net assets for the end of 2024 and 3.86% for mid-2025 [1] - The frozen amount totals 78.80 million yuan, while the amount in a stop-payment status is 54.72 million yuan [1] - The restricted amount in the fundraising account is 116.69 million yuan, representing 77.12% of the balance as of June 30, 2025 [1] - The company reported a revenue of 763 million yuan for 2024, a year-on-year decrease of 63.85%, and a net loss of 1.495 billion yuan, marking its first annual loss since going public [3] Legal Issues - Tianyi New Materials is currently involved in 22 ongoing lawsuits, with a total claim amount of approximately 226 million yuan, excluding interest, penalties, and litigation fees [2] - The company is facing legal actions from multiple financial institutions and suppliers regarding outstanding debts, which could lead to forced asset execution or auction if debts are not repaid [2] Operational Impact - The freezing of accounts has significantly affected the company's normal cash flow and operational activities [1][3] - The company is actively negotiating with various parties to mitigate the negative impacts of lawsuits and account freezes on its operations [3] Business Overview - Established in 2009 and listed on the Sci-Tech Innovation Board in July 2019, Tianyi New Materials is a leading enterprise in the production of powder metallurgy brake pads for high-speed trains [3][4] - The company entered the photovoltaic carbon-carbon composite materials sector in 2021 and has since become a key player in the photovoltaic auxiliary materials market [4] - Tianyi New Materials' photovoltaic business segment includes subsidiaries such as Tianli New Ceramics and Tianqi Guangfeng, focusing on the research, production, and sales of photovoltaic thermal fields and quartz crucibles [4]

Group 1 - The core issue involves the account freezing and litigation matters related to Tianyi New Materials Co., Ltd. [1] - The regulatory work letter issued focuses on the company, its directors, supervisors, senior management, and related intermediaries [1] - The market is advised to pay attention to the subsequent developments regarding the company's situation [1]

证券代码：688033 证券简称：天宜新材 公告编号：2025-050 重要内容提示： 截至本公告披露日，北京天宜上佳高新材料股份有限公司（以下简称"天 宜新材"或"公司"）及子公司银行账户受限金额合计为 13,351.88 万元，占公 司 2024 年末经审计净资产的 3.64%，占公司 2025 年半年度末净资产的 3.86%， 占公司 2024 年末经审计货币资金的 50.05%，占公司 2025 年半年度末货币资金 的 74.52%。其中，被冻结金额合计 7,880.38 万元，银行账户处于止付状态金额 合计 5,471.50 万元。募集资金专户受限金额为 11,669.15 万元，占 2025 年 6 月 30 日公司及子公司募集资金专户余额的 77.12%。其中，募集资金专户被冻结金 额 6,486.55 万元，占 2025年 6 月30 日公司及子公司募集资金专户余额的 42.87%； 募集资金专户处于止付状态金额 5,182.60 万元，占 2025 年 6 月 30 日公司及子公 司募集资金专户余额的 34.25%； 截至本公告披露日，公司被冻结的流动资金规模较大，公司多数银行账 户处于被冻 ...