TYSJ(SH:688033) Shang Hai Zheng Quan Bao·2025-11-09 18:27Core Viewpoint - Beijing Tianyi Shangjia High-tech Materials Co., Ltd. (hereinafter referred to as "Tianyi New Materials") is undergoing a pre-restructuring process initiated by its creditor, Tianjin Shengyu Automotive Parts Co., Ltd., due to its inability to repay debts and lack of assets to cover all liabilities [2][3]. Group 1: Company Overview - Tianyi New Materials has agreed to the pre-restructuring application and will voluntarily undertake related obligations during this period [2][3]. - The company is engaged in the production of friction materials, rail vehicle parts, and automotive components, among other activities [6]. Group 2: Legal Proceedings - On November 7, 2025, the Beijing First Intermediate People's Court issued a decision to initiate pre-restructuring for Tianyi New Materials, following an application from Tianjin Shengyu [2][4]. - The court's decision does not guarantee that the restructuring application will be ultimately accepted, leaving the company's future in this regard uncertain [2][3]. Group 3: Implications of Pre-restructuring - The initiation of pre-restructuring is expected to facilitate early debt claims, asset investigations, and communication with creditors and potential investors, thereby improving the chances of successful restructuring [7]. - During the pre-restructuring period, the company will continue its daily operations while cooperating with the court and temporary management [8]. Group 4: Management and Shareholder Actions - As of the announcement date, there are no plans for share reductions by the company's major shareholders, directors, supervisors, or senior management in the next six months [8].