合盛硅业陷亏损之际，股东富达实业意欲套现离场

Core Viewpoint - Fuda Industrial plans to fully divest its 2.29% stake in Hosheng Silicon Industry, citing personal funding needs, which may lead to significant market reactions and impact the company's stock price [2][3]. Shareholder Actions - Fuda Industrial intends to reduce its holdings by up to 27.07 million shares within three months, with a potential cash-out of approximately 1.584 billion yuan based on the closing price of 58.51 yuan per share [2]. - This divestment will be executed through a combination of centralized bidding and block trading, with specific limits on the number of shares sold through each method [2]. Historical Context - Fuda Industrial has been gradually reducing its stake in Hosheng Silicon since 2018, having previously held 24.62% at the time of the company's IPO in 2017 [4]. - Over the past seven years, Fuda has conducted seven rounds of share reductions, totaling 171 million shares and approximately 13.402 billion yuan in cash [6]. Financial Performance - Hosheng Silicon has faced significant financial challenges, reporting its first loss since going public in the first half of 2025, with a revenue drop of 26.34% year-on-year [7]. - The company reported a cumulative revenue of 15.206 billion yuan for the first three quarters of 2025, down 25.35% year-on-year, with a net loss of 321 million yuan [7]. Industry Outlook - The silicon-based materials sector is under pressure due to supply-demand imbalances in the industrial silicon and polysilicon markets, leading to price declines [7]. - Hosheng Silicon's management acknowledges the industry's current challenges but sees signs of recovery driven by national policies and market adjustments [8][9].