证券代码：603260 证券简称：合盛硅业 公告编号：2025-037 合盛硅业股份有限公司 关于上海证券交易所《关于合盛硅业股份有限公司 2024 年 年度报告的信息披露监管问询函》的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 合盛硅业股份有限公司（以下简称"公司"或"合盛硅业"）于近日收到上海证 券交易所下发的《关于合盛硅业股份有限公司 2024 年年度报告的信息披露监管 问询函》（上证公函【2025】0617 号）（以下简称"监管问询函"），公司积极 组织相关工作人员就监管问询函关注的相关问题逐项进行认真核查落实。现就有 关问题回复如下： 一、关于在建工程 年报显示，公司在建工程期末余额为 351.13 亿元，占总资产的比重近 39%， 规模较大，当期在建工程转固金额为 137.72 亿元。但以下在建工程进展较为缓 慢，且未计提减值。 （1）云南合盛水电硅循环经济项目-80 万吨/年工业硅生产及配套 60 万吨 型煤加工生产（以下简称水电硅循环项目）预算金额为 39.76 亿元，2023 年、 2024 年 ...

日度报告——综合晨报 洛杉矶骚乱事件持续发酵 [T报ab告le_日R期an：k] 2025-06-11 宏观策略（外汇期货(美元指数)） 美总统特朗普：洛杉矶骚乱事件是"外国入侵" 特朗普把洛杉矶骚乱事件定义为外国入侵，这意味着短期内事 态可能进一步升级，美元指数短期震荡。 宏观策略（国债期货） 央行开展了 1986 亿元 7 天期逆回购操作 后续债市走牛已经成为市场一致预期，若资金面持续处于均衡 偏松的状态上，市场可能会抢跑。 综 宏观策略（股指期货） 合 国家领导人同韩国总统李在明通电话 晨 报 6 月 10 日下午 A 股突发跳水，股债商汇均有所表现。市场对于 中美会谈的预期有所恶化。当期阶段，由于估值水平较高，因 此利空扰动带来的波动将加大。 农产品（生猪） 傲农生物：2025 年 5 月生猪销量同比增加 9.38% 从中长期视角来看，能繁母猪存栏与仔猪落地情况均指向养殖 行业仍处于中长期过剩的格局，除非重大疫病冲击。 黑色金属（铁矿石） 郑州：将暂停消费品以旧换新家电产品补贴申领 需求下滑可控下短期下跌急速预计较为平缓。整体工业品情绪 低迷，叠加自身季节性压力，预计矿价延续弱势。 能源化工（PTA） ...

作 者丨曹恩惠 编 辑丨骆一帆 6月9日，有媒体报道称，一位接近合盛硅业（603260.SH）的人士透露， 该公司正在谋求股 权转让，特变电工是此前的意向"接盘方"之一。 上述报道指出，截至5月底，双方对价格的谈判未能取得积极成果。"据了解，以董事长罗立 国为代表的合盛硅业实控人罗氏家族，出让全部股权的意向对价在百亿元级别。而特变电工 认为该价格偏离预期。" "对于任何捏造、散布此类不实信息、误导市场及投资者的行为，公司将采取一切必要法律手 段，严厉追究相关方的法律责任，坚决维护公司及全体股东的合法权益。"公司称，"如未来 发生与该事项相关的情形，本公司及相关信息披露义务人将严格按照法律法规要求及时履行 信息披露义务。" 作为工业硅和有机硅领域的双龙头企业，合盛硅业截至2024年底已经形成了工业硅产能122万 吨/年，有机硅单体产能173万吨/年。该公司也布局了光伏多晶硅等光伏制造环节，但受到近 两年光伏产业周期迎来低谷期的影响，其光伏板块的业务表现远不及传统硅基业务。 2024年，合盛硅业实现营业收入266.92亿元，同比增长0.41%；实现归属于母公司股东净利润 为17.40亿元，同比减少33.6%。而今 ...

Core Viewpoint - Company has denied any plans for equity transfer and stated that there has been no contact or negotiation with TBEA Co., Ltd. or its affiliates regarding such matters [1] Group 1 - Company confirmed that it has not engaged in any discussions about equity transfer with TBEA or its related parties [1] - Company emphasized that there are no undisclosed equity transfer matters as of now, and any contrary information is deemed seriously inaccurate [1] - Company will take all necessary legal actions against those who fabricate or spread false information that misleads the market and investors [1] Group 2 - Media reported that a source close to the company indicated that it was planning an equity transfer, with TBEA being one of the potential buyers [1]

Group 1 - A media report indicates that Hoshine Silicon Industry (603260) is planning a share transfer, with one of the interested parties being Tebian Electric Apparatus (600089) [1] - A source close to Hoshine Silicon Industry has responded to the media, stating that the aforementioned news is a rumor [1]

Core Viewpoint - The lawsuit filed by Tiantong Co., Ltd. against Hoshine Silicon Industry highlights the financial difficulties faced by Hoshine, revealing issues related to delayed payments and inventory management [2][3][7]. Group 1: Lawsuit Details - Tiantong's subsidiaries are suing Hoshine for a total of 477 million yuan due to equipment sales contract disputes, with claims of delayed receipt and unpaid balances [2][5]. - The lawsuits involve multiple contracts from 2022 and 2023, with significant amounts of unpaid invoices, including 264.49 million yuan and 81.63 million yuan from different contracts [3][4]. - Hoshine has faced six lawsuits this year from various partners, indicating a pattern of contractual disputes [5][6]. Group 2: Financial Performance and Challenges - Hoshine's financial performance has been declining, with revenue growth not translating into profit, as seen in 2022 and 2023 where revenue increased by 10.62% and 12.37% respectively, but net profit dropped by 37.39% and 49.05% [7][8]. - The company reported a significant increase in inventory, reaching 9.509 billion yuan by the end of 2024, a 33.02% year-on-year increase, attributed to production exceeding sales [8]. - Hoshine's financial pressure is evident, with cash reserves of 2.166 billion yuan against short-term borrowings and current liabilities totaling 15.836 billion yuan, indicating a funding gap exceeding 10 billion yuan [8].

Summary of the Conference Call for 合盛硅业 Company Overview - **Company**: 合盛硅业 (Hesheng Silicon Industry) - **Industry**: Silicon and photovoltaic materials Key Points and Arguments Industrial Silicon Business - The industrial silicon business is influenced by the operating rates in the southwestern region during the flood season, limiting short-term price increases. The annual production target for industrial silicon is set at 1.6 million tons, with approximately 1 million tons for external sales and stable self-use levels [2][7] - The company has a cost advantage in industrial silicon, with cash costs below 8,000 RMB/ton. The self-supply ratio of quartz stone is expected to increase from 50% to 70%-80% this year, significantly reducing procurement costs [2][10][15] - The company has started small-scale production of 8-inch silicon carbide products, with sales revenue of approximately 50 million RMB last year and a production plan of 50,000 pieces this year [3][25] Polysilicon Production - The polysilicon facility will undergo maintenance and technical upgrades after stable operation of 50,000 tons in 2024, aiming to reduce cash costs to 35,000 RMB/ton [2][19] - The company has begun a 5G production line for components and initiated the first furnace for photovoltaic glass, although capacity utilization is currently low due to industry-wide conditions [2][5] Market Dynamics - The overall operating rate in the organic silicon market is stable, with prices remaining steady. The market's confidence has improved following the confirmation of tariffs, and demand is expected to remain stable [2][12] - The organic silicon industry is projected to maintain double-digit growth in 2025, despite a price decline in April and May due to tariff impacts [2][13] Financial Performance - The company has experienced a cash flow of approximately 1.9 billion RMB in Q1 2025, with a total cash position of around 2 billion RMB. Continuous efforts are being made for subsidiary capital increases and market refinancing [3][28] - The company anticipates annual depreciation of 800-900 million RMB, with a quarterly estimate of about 200 million RMB [3][23] Industry Trends - The industrial silicon price is currently at an irrational level, with supply and demand heavily influencing future price movements. The company expects more outdated capacity to exit or reduce production due to sustained low prices [4][6] - The polysilicon industry is facing a mismatch in supply and demand, with new capacity additions delayed. The overall market recovery is expected to take time [11][24] Project Developments - A 2.1 GW photovoltaic power station is expected to start supplying power by the end of Q4, with a construction cycle of six months. Additionally, a 3.8 MW wind power project is in the site selection phase [3][26] - The company plans to start the Yunnan industrial silicon project in the second half of the year, with a gradual ramp-up of about 50,000 tons [3][27] Additional Important Information - The company has made significant investments in photovoltaic and related projects, with planned expenditures of approximately 4 billion RMB in 2025 [3][19] - The company’s self-supply ratio of electricity has exceeded 50%, contributing to lower overall costs [15][16] - The impact of fluctuating petroleum coke prices on overall costs is limited, as electricity costs constitute a larger portion of production expenses [9]

证券代码：603260 证券简称：合盛硅业 公告编号：2025-036 (五)网络投票的系统、起止日期和投票时间。 股东大会召开日期：2025年6月26日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 合盛硅业股份有限公司 关于召开2024年年度股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024年年度股东大会 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 6 月 26 日 14 点 00 分 召开地点：浙江省慈溪市北三环东路 1988 号恒元广场 A 座 4 楼公司会议室 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 6 月 26 日 至2025 年 6 月 26 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当 ...

Industry Overview - Polydimethylsiloxane (PDMS) is a polymer with a main chain of repeating Si-O bonds, widely used in various fields such as cosmetics, medical devices, industrial lubricants, food processing, and electronic devices [1][2][5] - The production capacity of PDMS in China has increased from 141.5 thousand tons in 2018 to 282.2 thousand tons in 2024, with a compound annual growth rate (CAGR) of 12.23% [7][9] - The domestic PDMS production reached 229.5 thousand tons in 2024, representing a year-on-year growth of 10.02% [7][9] Supply Side - The supply chain for PDMS includes upstream raw material suppliers (silicon powder, chloromethane), midstream PDMS producers (e.g., Xingfa Group, Dongyue Silicon Materials, Hoshine Silicon Industry), and downstream application sectors [5][7] - China has transitioned from being a net importer to a net exporter of PDMS since 2015, although high-end products still rely on imports [9] Consumption Side - PDMS is primarily consumed in the production of silicone rubber, accounting for 70% of total consumption [11][13] - Key application sectors for PDMS include electronics (21.3%), power/new energy (19.1%), construction (14.1%), and textiles (8.9%), with a trend of increasing consumption in electronics and new energy sectors [11][13] Market Dynamics - The market is characterized by high concentration, with the top six companies (CR6) accounting for over 75% of the market share [15] - Hoshine Silicon Industry is the leading company in the PDMS sector, with a production capacity of 62.1 thousand tons and a production volume of 51.1 thousand tons in 2024 [15][17] - Dongyue Silicon Materials follows closely, with a capacity of 28.2 thousand tons and a production volume of 24.9 thousand tons [15][19] Development Trends 1. The industry is expected to continue expanding capacity, with a need to achieve a dynamic balance between supply and demand [21] 2. Diversification of downstream applications and consumption upgrades will drive industry growth, particularly in high-performance silicone products [22] 3. Technological innovation and green development will lead the industry's transformation, focusing on high-end product development and environmentally friendly production methods [23]

Industry Overview - The organic silicon industry in China is currently in a rapid expansion phase, driven by demand from strategic emerging industries such as renewable energy, 5G communication, and smart vehicles, with production capacity expected to reach 3.44 million tons and output to grow to 2.253 million tons by 2024, although capacity utilization has slightly decreased to a new low since 2018 due to concentrated expansion [1][10] - The industry is undergoing significant structural adjustments, with expansion concentrated among leading companies like Hoshine Silicon Industry and Dongyue Silicone Materials, forming a coal-electricity-silicon integrated industrial cluster in regions with energy cost advantages such as Xinjiang and Inner Mongolia [1][10] Policy Background - China's organic silicon industry policies focus on technological iteration, green transformation, and industrial chain collaboration, promoting upgrades towards high-end, refined, and low-carbon directions [4] - The policy framework emphasizes technological breakthroughs, particularly in the development of specialty materials such as phenyl monomers and fluorosilicone polymers, and encourages the application of innovations in cutting-edge fields like aerospace and semiconductor packaging [4] Industry Chain - The upstream of the organic silicon industry relies on metallic silicon and methyl chloride as core raw materials, with metallic silicon forming a large-scale supply system in energy-rich areas, while methyl chloride's self-sufficiency is enhanced through recycling processes [6] - The midstream focuses on the synthesis and deep processing of organic silicon monomers, with a product matrix dominated by silicone rubber, silicone oil, and silicone resin, catering to various industrial needs [6] Competitive Landscape - The organic silicon industry in China exhibits a highly concentrated competitive landscape, with leading companies leveraging technological advantages and scale effects to dominate the market, resulting in a tiered structure [14] - As of 2024, there are 13 major organic silicon monomer production companies, with Hoshine Silicon Industry, Dongyue Silicone Materials, and Jiangxi Xinghuo being the largest in terms of production capacity [14] Development Trends - The organic silicon industry is accelerating its transition towards green and low-carbon practices, with companies innovating production processes to reduce energy consumption and pollution [16] - The focus is shifting from traditional sectors like construction and textiles to high-end fields such as renewable energy, electronic communication, and healthcare, with increasing demand for high-performance organic silicon materials in applications like photovoltaic module encapsulation and thermal management for electric vehicle batteries [16]