合盛硅业：始终坚持以“聚焦主业、固本强核、优化配置”为核心策略

Core Viewpoint - The company anticipates a phase of supply-demand structural adjustment in the industry by 2025, leading to downward pressure on product prices [1] Industry Summary - The industrial silicon market is experiencing a significant year-on-year contraction in demand, resulting in declining sales prices due to changes in the photovoltaic industry chain supply-demand relationship [1] - The organic silicon market is also under pressure, with product prices fluctuating at low levels for most of the year [1] - The photovoltaic business segment is seeing gradual recovery in the polysilicon market due to policy and market collaboration, but still faces short-term challenges such as insufficient demand and high inventory levels [1] Company Strategy - The company adheres to a core strategy of "focusing on the main business, strengthening fundamentals, and optimizing allocation" [1] - It aims to leverage full industry chain collaboration and refined management to continuously solidify cost advantages and operational efficiency in core businesses like industrial silicon and organic silicon [1] - The company is committed to optimizing the asset and business structure of the photovoltaic segment in response to policy guidance and market demand changes [1] Future Outlook - The company will actively respond to industry self-discipline initiatives to promote the industry’s transition from low-price disorderly competition to high-quality development [1] - It will closely monitor market changes, dynamically optimize production and operational arrangements, and continue to advance the research and industrialization of high value-added products [1] - The focus is on enhancing overall profitability and risk resistance, maintaining positive operating cash flow, and laying a solid foundation for the company's long-term healthy development [1]