Hoshine Silicon(SH:603260) Sou Hu Cai Jing·2026-01-23 07:06Core Viewpoint - The controlling shareholder of Hesheng Silicon Industry, Ningbo Hesheng Group, plans to reduce its stake in the company due to funding needs, with a maximum reduction of 35,466,207 shares, accounting for 3% of the total share capital [1][3]. Share Reduction Plan - The reduction will occur within three months starting from 15 trading days after the announcement, specifically from February 11, 2026, to May 10, 2026 [1]. - The plan includes a maximum of 11,822,069 shares through centralized bidding (1% of total share capital) and 23,644,138 shares through block trading (2% of total share capital) [1]. Financial Implications - Based on the previous trading day's closing price of 53.95 yuan, the total cash raised from the share reduction is approximately 1,913,401,867.65 yuan [3]. Shareholding Structure - As of the announcement date, Hesheng Group holds 486,647,073 shares, representing 41.16% of the total share capital, all acquired before the IPO [3]. - Hesheng Group, along with its associated parties, holds a total of 869,105,229 shares, which is 73.52% of the total share capital [3]. Regulatory Issues - Hesheng Silicon Industry received administrative regulatory measures from the Zhejiang Securities Regulatory Bureau due to issues related to undisclosed related-party transactions and failure to follow necessary approval procedures [3][6][9]. - The company engaged in transactions with related parties, including Kaihua Lianying Trading Co. and Kuqa Juyou Coal Industry, without proper disclosure, with transaction amounts significantly impacting the company's net assets [6][9]. - The company also failed to disclose a strategic cooperation agreement with the government, which involved substantial investments that exceeded the company's net asset value [10].