Tianyi New Material (688033.SH) has been applied for bankruptcy and pre-reorganization by creditors.

Zhitong Financial News APP: Tianyi New Materials (688033.SH) issued an announcement. On November 7, 2025, the First Intermediate People's Court of Beijing issued a "Decision" [(2025) Jing 01 break notice 1445]. The company's creditor, Tianjin Shengyu Auto Parts Co., Ltd. (referred to as "Tianjin Shengyu"), applied to the Beijing First Intermediate People's Court for restructuring (pre-restructuring) of the company on the grounds that the company was unable to repay the due debts, the assets were insufficient to repay all debts, and there was a clear lack of repayment ability. The company agreed to the above-mentioned application and voluntarily undertook the relevant obligations during the pre-restructuring period. In order to effectively identify the restructuring value and feasibility, and increase the success rate of the restructuring, the Beijing First Intermediate People's Court decided to initiate a pre-restructuring for the company.