Hoshine Silicon(SH:603260) Huan Qiu Lao Hu Cai Jing·2025-11-11 08:25Core Viewpoint - The major shareholder, Fuda Industrial, plans to reduce its stake in Hesheng Silicon Industry due to funding needs, which reflects the company's ongoing operational pressures and declining profitability [1][3]. Shareholder Actions - Fuda Industrial intends to reduce its holdings by up to 11.82 million shares through centralized bidding and up to 15.25 million shares through block trading, totaling a maximum of 27.07 million shares, representing 2.29% of the company's total equity [1][2]. - Prior to this reduction, Fuda Industrial held 27.07 million unrestricted shares, making it the fifth-largest shareholder. If the reduction is fully executed, Fuda will exit its position entirely [2]. - Fuda Industrial initially held 165 million shares at the time of Hesheng's IPO, representing 24.62% of the company, but has been gradually reducing its stake since 2018, having already cashed out over 10 billion yuan through multiple reductions [2]. Company Performance - Hesheng Silicon Industry, a leader in the silicon-based materials sector, has faced significant operational challenges, particularly in the competitive crystalline silicon photovoltaic industry, leading to a sharp decline in profitability [3]. - The company's net profit dropped from 8.22 billion yuan in 2021 to 1.54 billion yuan in 2024, with a further decline expected in 2025 [3]. - For the first three quarters of 2025, Hesheng reported a revenue of 15.206 billion yuan, a year-on-year decrease of 25.35%, and a net loss of 321 million yuan, a decline of 122.1% [3]. - However, in Q3 of this year, the company saw a turnaround with a net profit of 76 million yuan and a 14.92% increase in revenue to 5.430 billion yuan, driven by rising prices and volumes in industrial silicon [3].