Daqo New Energy Corp Stock Price, News & Analysis

Daqo New Energy Corp. (NYSE: DQ) has announced its intent to proceed with an IPO for its subsidiary, Xinjiang Daqo, on the Shanghai Stock Exchange. The IPO aims to issue 300 million shares at RMB 21.49 each, raising approximately RMB 6.45 billion. Post-IPO, Daqo New Energy will retain an 80.7% stake in Xinjiang Daqo, which will represent around 15.58% of the total shares outstanding. Key investments are expected from cornerstone investors including major funds and insurance companies. The issuance date is set for July 13, 2021, with official listing planned for July 22, 2021.

Daqo New Energy Corp. (NYSE: DQ) has announced the upcoming IPO of its subsidiary, Xinjiang Daqo New Energy, on the Shanghai Stock Exchange's Sci-Tech innovation board. Xinjiang Daqo plans to issue 300 million shares, approximately 15.58% of the total shares outstanding post-IPO. The IPO timetable includes a roadshow from July 5-7, confirmation of pricing on July 9, and issuance set for July 13, with final results expected on July 19. CEO Longgen Zhang emphasized this milestone will enhance Xinjiang Daqo's leadership in the polysilicon industry.

Daqo New Energy Corp. (NYSE: DQ) announces its subsidiary, Xinjiang Daqo New Energy, has completed the IPO registration with the China Securities Regulatory Commission. The IPO issuance process on the Shanghai Stock Exchange's Sci-Tech innovation board is expected to finalize within four weeks. CEO Longgen Zhang expressed excitement over this move, anticipating strengthened leadership in the polysilicon industry, enhanced growth opportunities, and a focus on R&D and high-end markets.

Daqo New Energy Corp. (NYSE: DQ) has submitted an IPO application for its subsidiary, Xinjiang Daqo, to the Shanghai Stock Exchange. The application was filed on May 28, 2021. Xinjiang Daqo projects a second-quarter revenue of RMB2.46~2.51 billion and a net profit of RMB1.30~1.33 billion, with results subject to change. Currently holding 95.6% equity in Xinjiang Daqo, Daqo New Energy emphasizes that these estimates are not finalized and may differ from consolidated financial results reported in U.S. dollars under U.S. GAAP.

Daqo New Energy Corp. (NYSE: DQ) announced Q1 2021 financial results with revenues of $256.1 million, up from $247.7 million in Q4 2020. Polysilicon production reached 20,185 MT, a slight decrease from 21,008 MT in Q4. The gross profit improved to $118.9 million with a gross margin of 46.4%, compared to 44.2% in the previous quarter. Net income attributable to shareholders was $83.2 million, leading to earnings per ADS of $1.13. The company anticipates stronger ASPs in Q2, projecting between $19.00 and $20.00 per kg.

Daqo New Energy Corp. (NYSE: DQ) announced a long-term supply agreement with JA Solar to provide approximately 78,200 MT of high-purity mono-grade polysilicon from July 2021 to December 2025. The actual volume and pricing will be negotiated monthly based on market conditions. JA Solar will make an advance payment to Daqo New Energy. The company anticipates entering a growth phase with its Phase 4B project coming online in Q1 2022, which will increase its capacity to meet the rising demand in the solar PV market.

Daqo New Energy Corp. (NYSE: DQ) hosted a field trip for institutional investors and solar industry analysts at its polysilicon facility in Shihezi, China, on May 11, 2021. The event was attended by representatives from major financial institutions such as Goldman Sachs and JP Morgan. Daqo's management emphasized their commitment to transparency and the automation of their production processes, which they assert minimizes the use of unskilled labor. A similar event is scheduled for May 12 for additional investors. The company is also expanding its production capacity, with an additional 35,000 metric tons expected by Q1 2022.

Daqo New Energy Corp. (NYSE: DQ), a prominent polysilicon manufacturer for the solar PV sector, will announce its unaudited financial results for Q1 2021 on May 18, 2021, before U.S. markets open. A conference call to discuss these results is scheduled for 8:00 AM ET on the same day. The call will be accessible via U.S. toll-free and international numbers, with a replay available until May 25, 2021. Daqo, established in 2007, has a production capacity of 70,000 metric tons per year and is recognized as one of the lowest cost producers in the industry.