Core Viewpoint - The Shanghai Stock Exchange issued a regulatory work letter to Beijing Tianyi Shangjia High-tech Materials Co., Ltd. regarding the freezing of the company's bank accounts and related litigation matters [1] Financial Impact - As of the announcement date, the total amount of restricted bank accounts for Tianyi New Materials and its subsidiaries is 133.52 million yuan, accounting for 3.64% of the company's audited net assets for the end of 2024 and 3.86% for the end of the first half of 2025 [2] - The frozen amount totals 78.80 million yuan, while the amount under payment stop is 54.72 million yuan [2] - The restricted amount in the fundraising special account is 116.69 million yuan, which is 77.12% of the balance as of June 30, 2025 [3] - The company is involved in 22 ongoing lawsuits with a total claim amount of approximately 226 million yuan, representing 6.15% of the audited net assets for the end of 2024 [3] Operational Performance - For the first half of 2025, the company reported revenue of 423 million yuan, a year-on-year decrease of 17.26%, and a net profit attributable to shareholders of -209 million yuan, improving from -493 million yuan in the same period last year [4] - In 2024, the company reported revenue of 763 million yuan, a year-on-year decrease of 63.85%, and a net profit attributable to shareholders of -1.495 billion yuan, a decrease of 1138.31% [4] - The net cash flow from operating activities for the first half of 2025 was 160 million yuan, a significant increase of 328.42% [4] Stock Performance - Tianyi New Materials was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 22, 2019, with an initial issuance of 47.88 million shares at a price of 20.37 yuan per share [4] - The company's stock is currently in a state of decline, having reached a peak of 64.80 yuan shortly after its listing [4] Fundraising Activities - The total amount raised by the company was 975.32 million yuan, with a net amount of 867.81 million yuan after deducting issuance costs, exceeding the original plan by 222.21 million yuan [5] - The funds were intended for projects related to the production of braking components for rail transit and the establishment of a marketing and service network [5] - The company has raised a total of 3.294 billion yuan from two fundraising activities [6]