TYSJ(SH:688033) Shang Hai Zheng Quan Bao·2025-11-14 20:45Core Viewpoint - Beijing Tianyi Shangjia High-tech Materials Co., Ltd. is undergoing a pre-restructuring process initiated by a creditor due to its inability to repay debts and insufficient assets to cover liabilities, which raises uncertainties regarding its future restructuring and financial stability [1][7]. Group 1: Company Financial Status - The company has been applied for pre-restructuring by creditor Tianjin Shengyu Automotive Parts Co., Ltd. due to its inability to repay due debts and a significant lack of repayment capability [1]. - As of the report date, the company has a large debt scale and limited repayment ability, with cash shortages being a primary concern [8]. - The company faces multiple legal lawsuits from financial institutions and suppliers due to outstanding debts, leading to the freezing of several bank accounts [8]. Group 2: Legal and Compliance Status - The company has conducted a comprehensive self-examination and found no major violations related to national security, public safety, ecological safety, production safety, or public health that could lead to the termination of its stock listing [2]. - There are no significant defects in information disclosure or compliance operations that could result in the termination of the company's stock listing [3]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties [4]. Group 3: Future Outlook and Risks - The initiation of pre-restructuring does not guarantee that the court will ultimately accept the restructuring application, leaving the company's future restructuring uncertain [7]. - If the company can successfully undergo restructuring, it may alleviate debt risks and improve its financial health, but failure to restructure could lead to bankruptcy [7][9]. - The company is committed to maintaining daily operational management despite the ongoing financial challenges and legal issues [8].