Core Viewpoint - Recent reports suggested that Hoshine Silicon Industry (合盛硅业) is seeking to transfer its equity, with TBEA being a potential buyer, but the company has denied these claims, labeling them as rumors [1][2] Group 1: Equity Transfer Rumors - A source close to Hoshine Silicon indicated that the company is looking for a share transfer, with TBEA as a potential buyer [1] - Negotiations regarding the price have not yielded positive results, with Hoshine's controlling shareholder, the Luo family, reportedly seeking a price in the range of billions, which TBEA finds excessive [1] - Hoshine's securities department confirmed that there has been no contact or negotiation regarding equity transfer with TBEA or its affiliates [1] Group 2: Company Performance - For 2024, Hoshine Silicon reported a revenue of 26.692 billion yuan, a year-on-year increase of 0.41%, while net profit attributable to shareholders decreased by 33.6% to 1.740 billion yuan [2] - The company's performance has been affected by a decline in core product prices, although it remains profitable [2] - As of June 9, Hoshine's stock closed at 47.58 yuan per share, with a market capitalization of 56.2 billion yuan [2] Group 3: Industry Context - Hoshine Silicon is a leading player in the industrial silicon and organic silicon sectors, with an annual production capacity of 1.22 million tons for industrial silicon and 1.73 million tons for organic silicon by the end of 2024 [1] - The company has also ventured into the photovoltaic sector, specifically in multi-crystalline silicon, but has faced challenges due to a downturn in the photovoltaic industry over the past two years [1]