Hoshine Silicon(SH:603260) 中国基金报·2025-07-16 15:00Core Viewpoint - The controlling shareholder of Hoshine Silicon Industry plans to transfer 5.08% of its shares to Xiao Xiugan for a total price of 2.634 billion yuan, highlighting the financial difficulties faced by Hoshine Group while indicating Xiao's strong financial capability [2][10][19]. Group 1: Share Transfer Details - Hoshine Group signed a share transfer agreement with Xiao Xiugan on July 16, 2023, to transfer 5.08% of Hoshine Silicon's shares at a price of 43.90 yuan per share, totaling 2.634 billion yuan [8][10]. - Following the transaction, Xiao Xiugan will become the fourth largest shareholder of Hoshine Silicon, holding 5.08% of the shares [13][19]. - Before the transaction, Hoshine Group and its concerted actions held 78.59% of Hoshine Silicon's shares, which will decrease to 73.51% post-transaction [16][19]. Group 2: Financial Context - Hoshine Group has been signaling financial distress, having pledged shares multiple times to raise funds for operational needs [18][19]. - The company has indicated that the share transfer is primarily driven by its own funding requirements and the developmental needs of the listed company [19]. - Hoshine Silicon is expected to report a net loss for the first half of 2025, attributed to weak downstream demand in the industrial silicon sector [24][25]. Group 3: Market Conditions - The photovoltaic industry is experiencing a downturn, with low operating rates for polysilicon and a significant decline in prices for industrial silicon and polysilicon due to supply-demand imbalances [24]. - The company has noted a substantial drop in sales prices for industrial silicon compared to the previous year, reflecting broader market challenges [24].