29, * ST Tianyi announced that the company received the Notice of Filing a Case from the CSRC on the same day. The China Securities Regulatory Commission decided to file a case for investigation on suspicion of illegal information disclosure.
* ST Tianyi disclosed that its subsidiary Jiangyou Tianqi Guangfeng New Material Technology Co., Ltd.
Tianqi Guangfeng, a subsidiary company, signed a sales contract with Zhongfu Shenying Carbon Fiber Xining Co., Ltd. (Hereinafter referred to as "Zhongfu Shenying") for production and operation needs. Subsequently, because Tianqi Guangfeng failed to pay the aforementioned contract amount on time, Zhongfu Shenying filed a lawsuit with the People's Court of Jiangyou City, Sichuan Province. On November 14,
2025, the People's Court of Jiangyou City, Sichuan Province made a civil judgment of first instance, and the company refused to accept the judgment and appealed to the Intermediate People's Court of Mianyang City, Sichuan Province in accordance with the law. On March 26, 2026, the Intermediate People's Court of Mianyang City, Sichuan Province issued a final judgment. After the
judgment came into effect, * ST Tianyi and its subsidiary Tianqi Guangfeng failed to fulfill their payment obligations within the prescribed time, and Zhongfu Shenying applied to the People's Court of Jiangyou City, Sichuan Province for compulsory execution . The People's Court of Jiangyou City, Sichuan Province, recently forcibly deducted the funds of Tianqi Guangfeng's special account for raising funds 95.
As of the disclosure date of the announcement, the balance of all special accounts for raising funds of * ST Tianyi was 5558. The frozen amount of the special account for raised funds was 3.7294 million yuan , accounting for 6% of the balance of the special account for raised funds.
In addition, * ST Tianyi also issued a number of risk warnings in the announcement. For example, the Shanghai Stock Exchange has imposed a delisting risk warning on the shares of the Company, and the Shanghai Stock Exchange has imposed other risk warnings on the shares of the Company due to the adverse audit report issued by Zhongshen Zhonghuan on the internal control of the Company's 2025 annual financial report.
At present, the company is in the pre-reorganization stage . According to the announcement on May 19, the company has signed the Restructuring Investment Agreement with the selected pre-restructuring financial investors and other restructuring investors. Prior to
this, the company also considered and passed a bill in May 2025 to use no more than 300 million yuan of idle raised funds to temporarily supplement liquidity for a period of no more than 12 months. However, in view of the fact that the company's own liquidity risk has emerged and its business continues to lose money, the company failed to return the idle raised funds on time.
Nowadays, the solvency is limited, and the shortage of funds has become the main problem faced by * ST Tianyi. The company and its subsidiaries have been sued by several financial institutions and suppliers for arrears, and some bank accounts have been frozen by the court.
In addition, the company still has some litigation cases that have not yet been concluded , and the final judgment is uncertain. According to
the latest financial data, * ST Tianyi achieved revenue of 116 million yuan in the first quarter of 2026, down 49 from the same period last year. .
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