Daqo New Energy Corp. manufactures high-purity polysilicon for the solar photovoltaic supply chain. Its updates commonly cover unaudited quarterly and annual results, production and sales volumes, average selling prices, production costs, cash and investment balances, and market conditions across the polysilicon and solar PV value chain.
The company’s news also includes annual report notices, annual general meeting materials, and disclosures tied to its subsidiary Xinjiang Daqo, whose PRC GAAP estimates are reported to the Shanghai Stock Exchange. Daqo’s American depositary shares represent ordinary shares of the foreign private issuer.
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Daqo New Energy Corp. (NYSE: DQ) announced its first-quarter 2023 financial results, reporting a revenue of $709.8 million, down from $864.3 million in Q4 2022. The gross profit also decreased to $506.7 million with a gross margin of 71.4%, reflecting a decline in average selling price (ASP) to $27.83/kg, compared to $37.41/kg in the previous quarter. Despite a production volume increase to 33,848 MT, net income attributable to shareholders dropped to $278.8 million, translating to earnings per basic ADS of $3.56. The company aims to produce between 44,000 MT and 46,000 MT of polysilicon in Q2 2023 and anticipates total production of 193,000 MT to 198,000 MT in 2023. Daqo's cash balance rose to $4.1 billion, highlighting strong operational cash flow.
Daqo New Energy Corp. (NYSE: DQ) announced that it will release its unaudited financial results for the first quarter of 2023 on April 27, 2023, before U.S. markets open. The company has scheduled a conference call at 7:00 AM U.S. Eastern Time on the same day to discuss the results. Daqo is known for its high-purity polysilicon production for the solar PV industry, boasting a nameplate capacity of 205,000 metric tons and being among the lowest-cost producers globally. The press release also provides dial-in and webcast details for the conference call and subsequent replay access.