Daqo New Energy Corp Stock Price, News & Analysis

This week's environment industry press releases include significant themes such as conservation initiatives and new projects aimed at sustainability. Highlights include the SeaWorld Conservation Fund celebrating 20 years of marine conservation with 22 new grants, and Jacobs announcing the design of an advanced water reuse facility in Los Angeles, which will purify over 15 million gallons per day for 200,000 customers. Additionally, mCloud partners with Mercedes-AMG PETRONAS Formula One to accelerate carbon-neutral strategies. The roundup serves as a resource for journalists seeking the latest on environmental news.

Daqo New Energy Corp. (NYSE: DQ) announced its unaudited financial results for Q4 and the fiscal year 2022. In Q4 2022, polysilicon production reached 33,702 MT, while sales volume fell to 23,400 MT, resulting in revenue of $864.3 million and a gross profit of $668.9 million, down from the previous quarter. Full-year revenue soared to $4.61 billion, a 175% increase from 2021. Net income attributable to shareholders was $1.86 billion. The company expects polysilicon production of 190,000-195,000 MT for 2023. Despite a recent market slowdown, demand is anticipated to recover with favorable price conditions for polysilicon.

Daqo New Energy Corp. (NYSE: DQ) is set to release its unaudited financial results for the fourth quarter and fiscal year 2022 on February 28, 2023, before U.S. markets open. The company has scheduled a conference call at 8:00 AM ET on the same day to discuss the results. Daqo, a leading polysilicon manufacturer for the solar PV industry, has a total polysilicon nameplate capacity of 105,000 metric tons and is recognized as one of the lowest-cost producers. For further information, the company’s website and conference call dial-in details are provided.

Daqo New Energy Corp. (NYSE: DQ) announced that its subsidiary, Xinjiang Daqo New Energy, projected net profits for 2022 to be between RMB 19.0 and 19.2 billion, representing a remarkable 231.9% to 235.4% increase from RMB 5.7 billion in 2021. This increase is attributed to strong market performance in the high-purity polysilicon sector. Daqo owns 72.7% of Xinjiang Daqo, which significantly contributes to its revenue. The net profit estimate is preliminary and subject to change, and investors should be cautious as results may vary from this estimate.

Daqo New Energy Corp. (NYSE: DQ) has announced a major expansion with its Phase 5B polysilicon project in Inner Mongolia, set to increase annual production capacity by 100,000 MT to 305,000 MT by the end of 2023. The capital expenditure for this project is estimated at RMB9.2 billion. The company also plans to build a metallurgical silicon facility to enhance self-supply of raw materials, aiming for lower costs and improved quality. Existing facilities in Xinjiang are projected to produce around 130,000 MT of polysilicon in 2022.

Daqo New Energy Corp. (NYSE: DQ) announced two long-term supply agreements for high-purity polysilicon, underlining its role as a key player in the solar PV industry. The first agreement with LONGi Green Energy involves supplying 251,280 MT of mono-grade polysilicon from May 2023 to December 2027. The second agreement entails providing 27,600 MT to another solar manufacturer from January 2023 to December 2027. Both contracts allow for monthly price negotiations based on market conditions and align with Daqo's strategy to support advancements in solar technology.

Daqo New Energy Corp. (NYSE: DQ) has announced a US$700 million share repurchase program, effective from November 7, 2022 to December 31, 2023. This initiative allows the company to buy back its own ordinary shares on the open market or through negotiated transactions, enhancing shareholder value. Funding for the buyback will primarily come from available cash reserves. The company's board will periodically review the program's terms and size, reflecting confidence in its financial position and future prospects.

Daqo New Energy Corp. (NYSE: DQ) has announced a five-year agreement to supply 57,600 metric tons of high-purity mono-grade polysilicon to a leading Chinese solar manufacturer. The contract begins in October 2022 and runs through December 2027, with pricing adjusted monthly based on market conditions. CEO Longgen Zhang emphasized the company's strong position to meet the increasing demand in the solar PV market due to efficient operations and quality product offerings. Daqo is recognized as one of the lowest-cost producers in the industry, with a nameplate capacity of 105,000 metric tons.

Daqo New Energy Corp. (NYSE: DQ) will hold its annual general meeting (AGM) on December 9, 2022, at 10 A.M. Beijing time, at its Shanghai office. Shareholders of record by November 8, 2022, are entitled to attend. The Company manufactures high-purity polysilicon, crucial for solar PV industry, and boasts a nameplate capacity of 105,000 metric tons, making it one of the lowest-cost producers globally. Shareholders can access the annual report via the Company’s website or investor relations.