Hoshine Silicon(SH:603260) KAIYUAN SECURITIES·2025-11-16 12:44Group 1 - The organic silicon supply and demand are expected to improve marginally, indicating a potential upturn in the industry cycle [2][10][20] - The recent price increase of organic silicon DMC has reached 12,000-12,500 RMB/ton, with a daily maximum increase of 1,000 RMB/ton, marking a cumulative increase of over 1,000 RMB/ton since early November [2][10][12] - The industry has reached a consensus on "anti-involution," leading to a significant adjustment in the supply-demand structure, signaling the end of a prolonged period of industry downturn [2][10][12] Group 2 - The North Exchange chemical new materials sector saw a weekly increase of 0.21%, with the battery materials segment performing particularly well at +6.47% [3][26][28] - Key stocks in the North Exchange chemical new materials sector that performed well this week include Anda Technology (+13.15%), Litong Technology (+8.78%), and Nengzhiguang (+7.64%) [3][29][32] Group 3 - Donghe New Materials' fundraising project has been delayed until June 30, 2026, due to equipment selection optimization, extending the completion timeline by seven months [4][65] - The company has established subsidiaries in Singapore, the Netherlands, and the United States to expand its overseas market presence [4][65] Group 4 - The organic silicon industry is experiencing limited new capacity additions, with no new installations planned for 2025 and no additional capacity expected before the end of 2026 [13][15] - The apparent consumption of organic silicon in China has grown from 1,062,000 tons in 2019 to 1,816,000 tons in 2024, with a CAGR of 11.3% [16][17]