TYSJ(SH:688033) Shen Zhen Shang Bao·2025-10-01 13:09Core 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]