16, Hesheng Silicon Industry announced that. (Hereinafter referred to as "Hesheng Group") intends to transfer 5 to Xiao Xiugen for 2.634 billion yuan .
It is noteworthy that after the completion of the transaction, Xiao Xiugen will hold 5 shares of Hesheng Silicon Industry. As of March 31, 2025, the shareholding ratios of the third and fourth largest shareholders of Hesheng Silicon Industry were 15.18% and 2.
Hesheng Silicon Industry, invested by Ningbo Hesheng Group in 2005 and listed in 2017, has developed into the most complete silicon-based industry chain company in the world. The legal representative is Luo Liguo .
Since its listing in 2017, Hesheng Silicon's share price has climbed all the way to 259. Luo Liguo, the company's helmsman, and his children hold 78
. 
For the transfer of shares, Hesheng Group made it clear in the announcement. It is mainly due to its own capital needs and the development needs of listed companies. Popularly speaking, Hesheng Silicon Industry is "short of money" .
According to the semi-annual performance forecast of 2025, Hesheng Silicon Industry is expected to achieve a net profit loss of 300-400 million yuan during the reporting period. Combined with the data of the first quarterly report in 2025, Hesheng Silicon's net profit attributable to its parent company in the second quarter is expected to lose 5.6-6.
" Meanwhile, the supply and demand of industrial silicon and polycrystalline silicon are unbalanced in stages, and the market price continues to decline, especially since the second quarter , the tide of photovoltaic installation has receded, and the terminal demand has cooled down. The decline in prices widened .
However, what is more noteworthy is that the net profit of Hesheng Silicon Industry has declined for three consecutive years. Specifically, in 2022-2024, Its net profit fell by 37.39% respectively. 49.05% and 33.
Open data show that Hesheng Silicon Industry has been profitable for 13 consecutive years since 2012. The total net profit attributable to the parent company exceeded 25.8 billion yuan , of which the net profit in 2012, 1 and 2022 was as high as 8.222 billion yuan and 51.
Although its performance has been declining in the past three years, it is also in a profitable state . Why is Hesheng Silicon Industry, which suffered its first loss in the second quarter of 2025, so short of money ? According to
public data, the business scope of Hesheng Silicon Industry has extended from polysilicon to photovoltaic modules , even covering glass, frame, film, welding strip , etc. Strive to https://www.databm.
the whole 36.14 billion yuan of construction in progress and 326
fixed assets in the same period. Its construction in progress is only 3.958 billion yuan , and its fixed assets in the same period are 10.64 billion yuan , totaling 145. Its "construction in progress + fixed assets" has increased nearly five times .
Among them, the first 100,000 tons/year high-purity polysilicon production line of Central Hesheng's 200,000 tons/year high-purity polysilicon project has successfully achieved mass production in February 2024.However, in the annual report of 2024, the polysilicon project, which invested more than 20 billion yuan, did not contribute any business income .
In fact, Hesheng Silicon Industry has repeatedly sent "lack of money" signals to the outside world.
Since 2025, Hesheng Group and its concerted actor Luo Yi have pledged some shares of Hesheng Silicon Industry for many times. Most of the pledged financing funds are used to repay debts, produce and operate, and supplement liquidity .
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Therefore, for the current Hesheng Silicon Industry, it is imperative to adjust the strategy as soon as possible to withdraw funds , while actively seeking partners to inject capital and increase capital . In order to alleviate short-term financial pressure and overcome difficulties .
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