Subsidiaries Tianqi Yiyang and Xinyiyang of Beijing Tianyishangjia High-tech Material Corp., Ltd. (688033.SH) temporarily halted production.

Beijing Tianyishangjia High-tech Material Corp., (688033.SH) announced that the company has received a notice of temporary production suspension from its wholly-owned subsidiaries Jiangyou Tianqi Yiyang New Materials Technology Co., Ltd. (hereinafter referred to as "Tianqi Yiyang") and Jiangsu Xinyiyang High-tech Materials Co., Ltd. (hereinafter referred to as "Xinyiyang"). Tianqi Yiyang and Xinyiyang, the company's wholly-owned subsidiaries, are mainly engaged in the research and development, production, and sales of photovoltaic quartz crucibles. Due to the destocking and continued downturn in the photovoltaic industry chain, the demand for monocrystalline pulling consumables products has weakened, severely impacting the business of Tianqi Yiyang and Xinyiyang. As of November 30, 2025, the company has 28 quartz crucible production lines with a corresponding capacity of 180,000 units, but as some production lines are still undergoing upgrades and renovations, the actual usable capacity is 110,000 units. From January to November 2025, the production volume of quartz crucibles for Tianqi Yiyang and Xinyiyang was 14,786 units and the sales volume was 15,600 units, with a capacity utilization rate of 14.66%. The utilization rate of quartz crucible production lines is at a low level, and the business continues to operate at a loss. The cyclical impact of the photovoltaic industry is still ongoing, and with operating income far from covering costs, to prevent further losses and protect the interests of the company and shareholders, Tianqi Yiyang and Xinyiyang have decided to suspend their operations.