The CITIC Construction Investment Securities Research Report indicates that since 2025, due to sluggish product prices, Hesheng Silicon's profits have declined. However, on the one hand, the prices of the company's main products are currently at the bottom, so it can be said that there is not much room for prices to continue to decline. On the other hand, since the second half of '25, the silicone and polysilicon industries have all seen the implementation of “anti-roll” related policies or initiatives. Overall, it is believed that industry sentiment will gradually pick up, driving a gradual recovery in the company's profits. As a leader in the silicon industry, the company still has sufficient investment value. Currently, the industrial chain boom is still sluggish, but under the reverse internal roll, the dawn of an industry reversal has appeared. In the future, it can be expected that the company will focus on the advantageous industrial silicon and silicone businesses, and profits will continue to improve as the industry warms up. The debt problem is also expected to be effectively mitigated by further profit recovery and equity financing. Maintain the company's “buy” rating.

The CITIC Construction Investment Securities Research Report indicates that since 2025, due to sluggish product prices, Hesheng Silicon's profits have declined. However, on the one hand, the prices of the company's main products are currently at the bottom, so it can be said that there is not much room for prices to continue to decline. On the other hand, since the second half of '25, the silicone and polysilicon industries have all seen the implementation of “anti-roll” related policies or initiatives. Overall, it is believed that industry sentiment will gradually pick up, driving a gradual recovery in the company's profits. As a leader in the silicon industry, the company still has sufficient investment value. Currently, the industrial chain boom is still sluggish, but under the reverse internal roll, the dawn of an industry reversal has appeared. In the future, it can be expected that the company will focus on the advantageous industrial silicon and silicone businesses, and profits will continue to improve as the industry warms up. The debt problem is also expected to be effectively mitigated by further profit recovery and equity financing. Maintain the company's “buy” rating.