Core Viewpoint - The company has decided to cease operations related to its photovoltaic encapsulation film project due to ongoing low demand and competitive pressures in the photovoltaic industry, which have led to sustained losses in this segment [1][3]. Group 1: Company Decisions - The company will hold its fifth board meeting on December 22, 2025, to review the proposal for the cessation of its photovoltaic encapsulation film project [1]. - The decision to stop the photovoltaic encapsulation film business is based on a thorough assessment aimed at enhancing shareholder value and improving profit levels [3]. Group 2: Project Details - The company has several projects related to photovoltaic film production, including a new annual production project of 150 million square meters by Kunshan Tianyang and similar projects by Nantong Tianyang and Hai'an Tianyang [2]. - The original investment in the photovoltaic encapsulation film project was made based on market conditions and strategic development, but ongoing low prices for photovoltaic components have resulted in insufficient demand [2][3]. Group 3: Market Conditions - As of the end of Q3 2025, the photovoltaic industry has not shown significant improvement in supply-demand dynamics, with continued low-price competition exacerbating losses in the photovoltaic film business [3]. - The company anticipates that the operating conditions for photovoltaic film may remain under pressure, potentially affecting overall business performance [3].

Group 1 - The company held its fifth extraordinary general meeting on December 22, 2025, with no resolutions being rejected [2] - The meeting was legally convened and conducted according to the Company Law and the company's articles of association, with all procedures being valid [5][7] - The board of directors approved a proposal to change the use of part of the raised funds [4] Group 2 - The board of directors' second meeting was also held on December 22, 2025, with all directors present, and the meeting was legally valid [7] - The board approved a proposal to cease operations of subsidiaries related to the photovoltaic encapsulation film project due to market changes and to enhance profitability [8][9] - A proposal to convene the first extraordinary general meeting of 2026 was also approved [10] Group 3 - The company has established four photovoltaic encapsulation film projects, but three of them have been terminated [13] - The decision to stop the photovoltaic encapsulation film project is based on ongoing low prices in the photovoltaic component market and insufficient demand [14] - The company plans to repurpose or sell the facilities and equipment used for the ceased project to optimize resource utilization [14] Group 4 - As of November 30, 2025, the raised funds for the photovoltaic encapsulation film project have been managed according to regulations, with some funds allocated for working capital [16] - The photovoltaic encapsulation film project contributed 48% of total revenue in 2024 and is expected to have a negative net profit of approximately 240 million yuan in 2024 [17] - The cessation of this project is anticipated to improve the company's overall profitability and will not affect other business segments [17]

Core Viewpoint - Tianyang New Materials has decided to halt its photovoltaic encapsulation film projects due to ongoing low prices in the solar component market, which have led to insufficient demand and increased competition, negatively impacting the company's profitability [1][2]. Group 1: Project Status and Financial Impact - The company has established four photovoltaic encapsulation film projects, with three of them being fundraising projects that have now been terminated [1]. - The net profits for the four project entities in 2024 are projected to be -74.73 million, -83 million, 5.73 million, and -81.61 million respectively [1]. - The halted projects had previously accounted for 48% of the company's total revenue in 2024 and are expected to reduce the negative impact on net profit significantly, improving overall profitability [3]. Group 2: Market Conditions and Strategic Decisions - The decision to stop the projects is based on a thorough assessment of market conditions, where the photovoltaic industry has not shown signs of recovery in supply-demand dynamics, leading to continued low-price competition [2]. - The remaining funds from the halted projects will be managed according to regulations, with some allocated for working capital and others potentially invested in new projects based on market conditions [3]. Group 3: Business Continuity and Future Plans - The cessation of the photovoltaic encapsulation film business is not expected to affect the operations of other business segments, which have shown stable revenue growth, accounting for 52% of total revenue in 2024 [4]. - The company plans to ensure a smooth transition during the shutdown of the photovoltaic encapsulation film projects while safeguarding the interests of shareholders and employees [4].

Core Viewpoint - Tianyang New Materials (603330.SH) has announced the decision to suspend its photovoltaic encapsulation film project due to changes in the photovoltaic industry market, aiming to enhance shareholder value and improve profit levels [1] Group 1: Business Decision - The company's board has approved the proposal to halt the photovoltaic encapsulation film business [1] - The decision is based on a careful assessment of the current market conditions and is intended to ensure the long-term stable development of the company [1] Group 2: Resource Allocation - After the suspension, the factory space used for the photovoltaic encapsulation film project will be repurposed for the production of other products, such as hot melt mesh film, or may be leased or sold for future business needs [1] - Some of the production equipment already invested in can be modified for the production of other products, while other equipment will be sold based on market demand [1]

Core Viewpoint - The company has decided to cease operations of its photovoltaic encapsulation film project due to persistent low prices in the photovoltaic component market, leading to insufficient demand and ongoing losses in the business [1] Group 1: Company Decision - The company held its fifth board meeting on December 22, 2025, where it approved the proposal to stop the photovoltaic encapsulation film project [1] - The decision was made after careful evaluation of the market conditions and the need to enhance shareholder value and improve profit levels [1] Group 2: Market Conditions - Since the implementation of the photovoltaic encapsulation film project, the prices of photovoltaic components have remained low, resulting in a lack of willingness from manufacturers to operate [1] - As of the end of Q3 2025, the supply-demand relationship in the photovoltaic industry has not shown significant improvement, leading to intensified price competition in the encapsulation film sector [1] Group 3: Future Plans - After the cessation of the encapsulation film project, the factory space will be repurposed for the production of other products, such as hot melt adhesive films, or may be leased or sold [2] - Some of the production equipment will be modified for use in other product lines, while other equipment will be sold based on market demand [2]