Daqo New Energy Corp Stock Price, News & Analysis

Daqo New Energy Corp. (NYSE: DQ) announced a three-year supply agreement with Gaojing Solar Energy Technology Co., LTD for high-purity polysilicon. The agreement involves the delivery of 45,900 MT of polysilicon from June 2021 to May 2024. Gaojing Solar, which aims for a 50GW solar wafer capacity, is set to begin operations with a 15GW production capacity by September 2021. The deal underscores Daqo's role in supporting the growing solar market while Gaojing aims to leverage Daqo's high-quality materials to enhance competitiveness.

Daqo New Energy Corp. (DQ) reported strong financial results for Q4 2020, with revenues reaching $247.7 million, a significant increase from Q3's $125.5 million. The company achieved a record polysilicon production volume of 21,008 MT and a sales volume of 23,186 MT. Net income attributable to shareholders was $72.8 million, translating to earnings per ADS of $1.01. For the full year 2020, revenues were $675.6 million, with a gross profit of $234.0 million and an operating margin of 27.8%.

Daqo New Energy Corp. (NYSE: DQ) has announced a three-year supply agreement to provide Wuxi Shangji Automation with 52,700 MT of high-purity mono-grade polysilicon from July 2021 to June 2024. The pricing will be negotiated monthly based on market conditions, with an advance payment from Shangji. This agreement strengthens the strategic partnership between the two companies, as Shangji expands its capacity in the solar PV market, utilizing advanced technology.

Daqo New Energy Corp. (NYSE: DQ) has signed a three-year supply agreement with Zhonghuan Semiconductor for 41,000 MT of high-purity polysilicon, set to be delivered from 2021 to 2023. This deal aims to support Zhonghuan's solar wafer production. Both companies will negotiate prices monthly based on market conditions, with Zhonghuan making an advance payment. Daqo New Energy plans to expand its production capacity to meet growing demand in the solar PV market, emphasizing product quality improvements.

Daqo New Energy Corp. (NYSE: DQ) plans to release its unaudited financial results for the fourth quarter and fiscal year 2020 on March 9, 2021. The report will be available before U.S. markets open, followed by a conference call at 8:00 AM ET on the same day. Daqo New Energy is recognized as a leading manufacturer of high-purity polysilicon for the solar PV industry, currently operating with a production capacity of 70,000 metric tons annually. Investors are encouraged to join the call for insights into the company's performance.

Daqo New Energy Corp. (NYSE: DQ) announced progress regarding its subsidiary Xinjiang Daqo New Energy's potential STAR Market IPO in China. The Shanghai Stock Exchange's stock listing committee has reviewed and confirmed that Xinjiang Daqo meets the necessary requirements for offering and listing. The next step involves the registration process with the China Securities Regulatory Commission. Daqo New Energy is a leading producer of high-purity polysilicon, with a production capacity of 70,000 metric tons annually, positioning itself as one of the lowest-cost manufacturers in the solar PV industry.

Daqo New Energy Corp. (NYSE: DQ) announced preliminary estimates for its subsidiary, Xinjiang Daqo, indicating 2020 revenue between RMB4.5-4.7 billion and net profit between RMB0.95-1.05 billion. These estimates are based on combined results for the first nine months and projected fourth-quarter performance, adhering to PRC GAAP. Daqo holds a 95.6% stake in Xinjiang Daqo, which contributes significantly to its income. Additionally, the company updated production guidance for 2020, expecting 76,700-77,200 MT for the year.

Daqo New Energy Corp. (NYSE: DQ) has reaffirmed its zero-tolerance policy against forced labor in response to recent third-party research and media comments. The company emphasizes that polysilicon manufacturing is not labor-intensive and relies on highly skilled personnel. Located in Xinjiang, Daqo aims to optimize production by being close to raw materials. The company advocates for responsible discourse within the solar PV industry to address climate change and promote community welfare.

Daqo New Energy Corp. (NYSE: DQ) announced long-term polysilicon supply agreements with JA Solar and another leading solar company. From January 2021 to December 2023, Daqo is set to supply 32,400 MT to 43,200 MT of high-purity mono-grade polysilicon to JA Solar, and 12,000 MT to the other company until December 2022. CEO Longgen Zhang highlighted the significance of these agreements, as approximately 79,800 MT of polysilicon has already been booked for 2021, reflecting the growing importance of solar energy in the global energy market.