Today, the domestic DMC market presents a game pattern of "price but no market". Driven by industry conferences and the expectation of joint production cuts in December, producers have a firm attitude towards raising prices. Mainstream quotes have generally been raised to 13000-13200 yuan/ton, and the market average price has increased by 100 yuan/ton to 13100 yuan/ton. However, the transmission of costs downstream is hindered, and the acceptance of high prices by end-users is limited, resulting in sustained negative feedback from the demand side. The overall trading atmosphere in the market is light, and there are few new transactions. Raw material side: The industrial silicon market is operating strongly. Supply side: Individual factories have a strong willingness to raise prices and are expected to start reducing production in early December. We need to pay attention to the implementation of the plan. Demand side: Downstream mentality tends to be cautious and lacks confidence in the future market.
According to the announcement, the shareholding plan is aimed at middle-level management personnel and core technical (business) backbones of the company (including subsidiaries), with a total participation of no more than 120 people. The stock source is the shares repurchased by the previous company, with a planned shareholding of no more than 3.3 million shares, accounting for approximately 0.28% of the company's current total share capital. In terms of funding sources, the plan plans to raise a maximum of 155 million yuan, all of which will be paid from the incentive fund extracted by the company and belong to the floating portion of employees' legal salaries. The stock purchase price is set at 47.05 yuan/share, which is a certain discount compared to the company's previous repurchase average price of 51.16 yuan/share. The duration of the shareholding plan shall not exceed 48 months, and the lock up period shall be set at 12 months or until January 1, 2027, whichever is longer. After the lock up period expires, the equity of the stocks held will be divided into two phases based on the holder's annual assessment results in 2026, deeply linking the personal interests of employees with the long-term development of the company. Hesheng Silicon Industry stated that this move will help fully mobilize employee enthusiasm and improve the company's governance structure. At the same time, the announcement also highlights the uncertainty and risk of stock price fluctuations in the implementation of the plan, reminding investors to make cautious decisions. The plan still needs to be submitted to the company's shareholders' meeting for approval before it can be implemented. On November 19th, due to factors such as the rise in prices of organic silicon and industrial silicon, the stock prices of listed companies in the silicon energy sector saw a significant increase. As of the close on November 19th, the organic silicon sector (BK0961) rose by 1.25%. Among them, Yuanxiang New Materials (301300. SZ), Dongyue Silicon Materials (300821. SZ), and Chenguang New Materials (605399. SH) hit the daily limit up, while the stock price of Hesheng Silicon Industry hit the daily limit up, closing up 8.86% at 65.5 yuan per share. In response to this, Hesheng Silicon Industry stated that recent discussions within the industry about promoting the healthy development of the silicone market are an important measure to "reverse internal competition". It is expected that through industry self-discipline, the price of silicone will be reversed, the supply-demand relationship will be improved, and the industry's development will shift from "quantity" to "quality". Hesheng Silicon Industry will actively cooperate with relevant meeting decisions. The company always believes that the healthy and sustainable development of the industry relies on the joint efforts of all participants, including continuous technological innovation, product quality improvement, cost optimization, and the common maintenance of market order. Hesheng Silicon Industry will also continue to focus on these areas, expanding into high-end fields such as new energy and electronics by laying out downstream high value-added products, and opening up new growth opportunities.