天宜新材(688033.SH)：2025年预亏19亿元至25亿元

Core Viewpoint - Tianyi New Materials (688033.SH) is expected to report a significant decline in net profit for the fiscal year 2025, with projections indicating a loss between 2.5 billion to 1.9 billion yuan, representing a year-on-year decrease of 27.06% to 67.19% [1][2] Group 1: Financial Projections - The projected net profit attributable to shareholders for 2025 is expected to be between -2.5 billion to -1.9 billion yuan, a decrease of 4.05 billion to 10.05 billion yuan compared to the previous year [1] - The expected net profit after deducting non-recurring gains and losses for 2025 is projected to be between -2.322 billion to -1.722 billion yuan, reflecting a decline of 1.28 billion to 7.28 billion yuan year-on-year [1] Group 2: Reasons for Performance Decline - The company's performance is adversely affected by an imbalance in industry supply and demand, liquidity issues, and a decline in the shipment volume of its photovoltaic and carbon-carbon businesses [2] - Significant price drops in quartz crucible products and temporary shutdowns of subsidiaries related to quartz crucibles have further contributed to the decline in performance [2] - The company has made provisions for inventory impairment and conducted impairment tests on fixed assets, which have had a substantial negative impact on the current reporting period's performance [2] - The company is currently in a pre-restructuring phase and is cooperating with the court and management to undertake relevant restructuring work while fulfilling its legal obligations as a debtor [2]