ab 14 November 2025 Oil prices might recover in 2026-28E, China demand dragged by gasoline/diesel Crude oil: UBS projects Brent crude oil price to average US$64/70/75/bbl in 2026-28, with expectations that the second tranche of OPEC+'s voluntary cuts of 1.65Mb/d may end in Dec 2026 and the effective production increase may be 40% of the headline numbers. Oil prices could improve from later part of 2026, in UBS view. Weak gasoline and diesel consumption might further weigh on China demand and we project 4.4% ...

Core Viewpoint - Hoshine Silicon Industry Co., Ltd. emphasizes its commitment to sustainability and green development, showcasing its achievements in environmental, social, and governance (ESG) practices through its first annual Sustainability Report for 2024 [1][2]. Company Overview - Hoshine Silicon was established in 2005 and listed on the Shanghai Stock Exchange in 2017, focusing on silicon-based new materials and green energy solutions [1][2]. - The company operates multiple digital intelligent manufacturing bases and high-tech R&D centers, with a strong presence in various sectors including energy, silicon metal, and third-generation semiconductor silicon carbide (SiC) [2][3]. Governance - Hoshine Silicon prioritizes integrity in operations and is committed to enhancing its governance system, integrating sustainable development concepts into its core strategies [6][7]. - The company has established a three-layer ESG governance structure, with the Board of Directors overseeing ESG matters and a dedicated task force ensuring effective implementation [8][9]. Environmental Management - The company actively engages in energy and greenhouse gas management, pollutant control, and resource utilization, aiming for low-carbon and sustainable development [14][15]. - Hoshine Silicon has implemented a climate governance structure to address climate change risks and opportunities, aligning with national "dual carbon" goals [15]. Social Responsibility - Hoshine Silicon emphasizes the importance of business ethics and compliance, maintaining a zero-tolerance policy towards unethical conduct and actively promoting a culture of integrity [11][12]. - The company engages with stakeholders through various communication channels to ensure alignment with their expectations and enhance corporate influence [9][10]. Performance Metrics - The report includes a key performance table that outlines the company's achievements in various ESG areas, reflecting its commitment to responsible governance and sustainable practices [1][2].