Tianyi New Materials (688033.SH) subsidiaries Tianqi Yiyang and Xinyiyang temporarily suspended production

Zhitong Finance App News, Tianyi New Materials (688033.SH) issued an announcement. The company received notices from its wholly-owned subsidiaries Jiangyou Tianqi Yiyang New Material Technology Co., Ltd. (hereinafter referred to as “Tianqi Yiyang”) and Jiangsu Xinyiyang High-tech Materials Co., Ltd. (hereinafter referred to as “Xinyiyang”) to temporarily stop production.

The company's wholly-owned subsidiaries Tianqi Yiyang and Xinyiyang are mainly engaged in R&D, production and sales of photovoltaic quartz crucibles. Affected by the removal of inventories in the photovoltaic industry chain and continued downturn, demand for single-crystal drawing consumables was weak, and the business of Tianqi Yiyang and Xinyiyang was seriously affected. As of November 30, 2025, the company has a total of 28 quartz crucible production lines, with a corresponding production capacity of 180,000. Since some production line upgrades have not yet been completed, the actual usable production capacity is 110,000. From January to November 2025, Tianqi Yiyang and Xinyiyang's quartz crucible business produced 14,786 units, sold 15,600 units, and a capacity utilization rate of 14.66%. The utilization rate of the quartz crucible production line was low, and the business continued to lose money. Currently, the cyclical impact of the photovoltaic industry continues. In a situation where operating income is far from covering costs, in order to avoid further expansion of losses and protect the interests of the company and shareholders, Tianqi Yiyang and Xinyiyang have decided to stop production of their business.