Hoshine Silicon Returns to Profit in First Half as Rising Silicone Prices Drive Margin Recovery

Earnings
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Hoshine Silicon released its 2026 semi-annual report on the evening of August 25. In the first half, the company achieved operating revenue of 10.16 billion yuan, up 3.94 percent year on year, and net profit attributable to shareholders of 324 million yuan, successfully turning from loss to profit. Its overall gross margin was 18.39 percent, an increase of 10.47 percentage points from the same period last year, while the weighted average return on equity rose by 2.32 percentage points year on year. The improvement was mainly driven by higher capacity utilization and significantly increased production and sales of industrial silicon, as well as an improved supply-demand balance in the silicone industry and higher market prices for major products. For industrial silicon, direct smelting power consumption per tonne at most furnaces has fallen below 10,000 kilowatt-hours, while the silicone business reduced steam consumption through fluidized bed technical upgrades and a self-recuperative distillation column system. Under Hoshine Silicon's leadership, industry self-discipline has continued to advance. In June 2026, the industry raised emission reduction efforts to 40 percent, and on July 3, a monomer producers' meeting further confirmed that the reduction control ratio would rise to 60 percent, with DMC quotations returning to around 14,000 yuan per tonne. In the first half, the average domestic silicone DMC price was 14,400 yuan per tonne, up more than 13 percent year on year. The company also disclosed that team building for its optical fiber preform project, procurement of key equipment, and early-stage market development are progressing in an orderly manner. In the first half, sales volume of D4 products sold to major domestic optical fiber companies grew by more than 70 percent year on year.

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