OCI Holdings is showing weakness in early trading on the 24th. Ahead of its earnings announcement, concerns are rising that the holding company's performance may be clouded as its major subsidiary, OCI, confirmed a turnaround to a loss in the second quarter.
As of 9:12 a.m. on the same day, OCI Holdings is trading at 89,000 won, down 7,050 won (7.39%) from the previous trading day.
OCI Holdings is scheduled to announce its second-quarter earnings on this day, but the securities market is expressing a bleak outlook for this quarter's performance. The company's main business area, polysilicon, is expected to turn to a loss due to market downturns. Global inventories of polysilicon exceeded 1.93 million tons last year and are expected to reach between 300,000 and 400,000 tons currently. The loss is projected to be around 50 billion won.
The performance of its major subsidiary, OCI, reflected this outlook the previous day. OCI recorded an operating loss of 2.3 billion won in the second quarter. This is the first loss since the spin-off in 2023 and is expected to negatively impact the consolidated performance of the holding company, OCI Holdings.