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On May 20, Tangshan Sunfar Silicon Industries Co.,Ltd. (603938) hit its third consecutive daily limit-up. Over the ten trading days from May 7 to May 20, the stock recorded a total of five limit-up gains. Starting from May 6, the stock surged 90.50% over eleven trading sessions, significantly outperforming the Shanghai Composite Index's gain of 1.22% over the same period. As of the close on May 20, the stock price was 53.76 yuan per share, an increase of 4.89 yuan, or 10.01%.
The company issued a risk warning announcement on the evening of May 20, stating that its daily operations are normal, its main business remains unchanged, there have been no significant adjustments to the market environment or industry policies, and its internal production and operational order is standard.
Tangshan Sunfar Silicon Industries is primarily engaged in the research, development, production, and sales of chemical products, including trichlorosilane, silicon tetrachloride, high-purity silicon tetrachloride, electronic-grade dichlorosilane, electronic-grade trichlorosilane, electronic-grade silicon tetrachloride, fumed silica, silane coupling agents, potassium hydroxide, and potassium sulfate.
In 2025, the company reported operating revenue of 20.97 billion yuan, an increase of 18.49% year-over-year. Net profit attributable to shareholders of the listed company was 80.299 million yuan, up 25.90% year-over-year. After deducting non-recurring gains and losses, the net profit attributable to shareholders was 69.0481 million yuan, a significant increase of 72.96% year-over-year.
In its latest announcement, the company stated that after a self-inspection, it found no media reports that significantly impacted its stock trading price. However, it noted the recent high market attention on concepts related to memory chips. The company's main products include trichlorosilane, silicon tetrachloride, high-purity silicon tetrachloride, silane coupling agents, potassium hydroxide, potassium sulfate, electronic specialty gases, and fumed silica. These products are used in fields such as photovoltaics, optical fibers, fine chemicals, fertilizers, and electronic chips. Revenue related to memory chips accounts for less than 1% of the company's total operating revenue and is not expected to have a significant impact on its performance.
As of the announcement date, the company, its controlling shareholders, and actual controllers have no other significant information that should be disclosed but has not been, including but not limited to major asset restructurings, share issuances, acquisitions, debt restructurings, business reorganizations, asset divestitures, or asset injections.
The company also cautioned that, according to public data from the China Securities Index website, as of May 19, 2026, its rolling price-to-earnings ratio reached 202.92, significantly higher than the industry average of 28.15 for the "Chemical Raw Materials and Chemical Products Manufacturing" sector. The substantial short-term rise in the stock price may indicate overheated market sentiment and irrational speculation.
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