On December 12, Tianyi New Material announced that the company's wholly-owned subsidiaries, Jiangyou Tianqi Yiyang and Jiangsu Xinyiyang, were mainly engaged in quartz crucible business due to weak demand. From January to November 2025, the capacity utilization rate was only 14.66% and continued to lose money. As of September 30, the two subsidiaries were insolvent, so they decided to temporarily stop production.
In addition, the shutdown of Tianqi Yiyang will affect the implementation progress of the company's investment project "Quartz Crucible Production Line Automation and Intelligent Upgrading Project", and the production time is expected to be postponed to December 31, 2026.
On the same day, Tianyi New Material also issued a notice of the departure of senior executives, Meng Li and Zhang Yanming resigned as president and vice president of the company for personal reasons.
It is reported that on November 7, Tianyi New Material has been applied by creditors to start pre-reorganization.
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