Ge Long Hui A P P·2025-10-22 09:25Core Viewpoint - Silica Technology's Q3 2025 revenue remains stable, with a significant year-on-year increase in net profit attributable to shareholders primarily due to the recovery of product gross margins [1] Group 1: Company Performance - The company has achieved year-on-year sales growth in the first half of the year, despite the real estate sector continuing to decline, thanks to the government's "Urban Renewal Plan" and the release of the stock market through the renovation of old residential areas [1] - The company maintains its leading position in the construction adhesive market, with expectations for the profitability of construction adhesives to rebound [1] - Industrial adhesives are experiencing rapid growth, while hot melt adhesives are steadily increasing, indicating a positive outlook for these segments in Q3 [1] Group 2: Industry Outlook - The industry concentration is further improving, which is beneficial for the company's market position [1] - The continuous breakthroughs in silicon-carbon anodes are also contributing to the company's long-term development prospects [1] - The overall outlook for the company remains positive, with a maintained "Buy" rating [1]