TYSJ(SH:688033) Ge Long Hui A P P·2025-11-09 08:41Core 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]