Tianyi New Materials: Selects and determines the pre-restructuring industry investors, with a decrease of 10.48% in revenue by 2025.

Tianyi New Materials announced that on February 28, 2026, Beijing Ziguang Communication Technology Group and others were confirmed as the pre-restructuring selected industry investors, and Taizhou Hengchuan New Energy Materials Technology was selected as the alternative industry investor. Subsequent negotiations will be held to sign a restructuring investment agreement. However, it is uncertain whether the pre-restructuring of the company will be successful or whether it will enter the restructuring process. If the restructuring fails and is declared bankrupt, the company's stock will face the risk of delisting. In 2025, the company's revenue was 683 million yuan, a year-on-year decrease of 10.48%; net loss was 2.206 billion yuan, a year-on-year decrease of 47.54%; non-GAAP net loss was 2.028 billion yuan, a year-on-year decrease of 27.20%.