Daqo New Energy Corp Stock Price, News & Analysis

Daqo New Energy Corp. (NYSE: DQ) has entered a five-year supply agreement with Shuangliang Silicon Materials for 150,300 metric tons of high-purity polysilicon from November 2022 to December 2027. The supply aims to support Shuangliang's expanding solar wafer business, with monthly pricing based on market conditions. CEO Longgen Zhang anticipates strong demand for mono-grade polysilicon, especially as the industry shifts towards N-type technology. Daqo's competitive edge lies in its extensive capacity and low production costs, establishing it as a leader in the solar PV sector.

Daqo New Energy Corp. (NYSE: DQ) plans to release its unaudited financial results for Q3 2022 on October 27, 2022, before U.S. market opening. A conference call is scheduled for 8:00 AM U.S. Eastern Time on the same day, with dial-in details provided for participants. Daqo specializes in high-purity polysilicon production for the solar industry, holding a capacity of 105,000 metric tons. The company is recognized as one of the lowest-cost producers in its sector.

Daqo New Energy Corp. (NYSE: DQ) announced its 2022 share incentive plan aimed at attracting and retaining talent. The plan includes the issuance of 37,253,465 restricted share units (RSUs), representing about 10% of total outstanding shares. The RSUs were granted to key employees, directors, and officers as of August 10, 2022. The Company expects to incur approximately $263.4 million in non-cash share-based compensation expenses in Q3 2022, with $7.3 million monthly from October 2022 to September 2025. This move aligns with Daqo's strategy to strengthen its workforce in the competitive solar PV market.

Daqo New Energy (NYSE: DQ) reported strong Q2 2022 financial results, with revenues of $1,244.1 million and a net income of $627.8 million, reflecting a 17.2% increase from Q1 2022. Polysilicon production was 35,326 MT, while sales volume reached 37,545 MT. The gross profit rose to $946.9 million, yielding a gross margin of 76.1%. The average cash cost of production significantly decreased to $6.51/kg. The company announced an increased annual production guidance of 129,000-132,000 MT and a share repurchase program of $120 million to enhance shareholder value.

Daqo New Energy Corp. (NYSE: DQ) will release its unaudited financial results for Q2 2022 on August 3, 2022, before U.S. markets open. A conference call is scheduled for 8:00 AM Eastern Time on the same day, with details provided for participants. Daqo is known for producing high-purity polysilicon for the solar PV industry, possessing a total production capacity of 105,000 metric tons, and is recognized as one of the lowest-cost producers in the sector.

Daqo New Energy Corp. (NYSE: DQ) announced preliminary net profit estimates from its subsidiary, Xinjiang Daqo, for H1 2022, ranging from RMB 9.4 billion to RMB 9.6 billion, reflecting a significant increase of 335% to 344% compared to RMB 2.16 billion in H1 2021. The company had reported RMB 4.31 billion in net profit for Q1 2022. Notably, these figures are based on PRC GAAP and may change upon final reporting. Investors are advised to exercise caution as actual results could vary materially.

Daqo New Energy Corp. (NYSE: DQ) announced through its subsidiary Xinjiang Daqo that it has completed a private offering on the Shanghai Stock Exchange. The offering raised approximately RMB11 billion by issuing 212,396,215 shares, equivalent to 9.94% of total shares outstanding. The shares were priced at RMB51.79 each, allowing Daqo to maintain a significant ownership of 72.68% in Xinjiang Daqo post-offering. This strategic move aims to bolster the company's financial position within the solar PV industry.

Daqo New Energy Corp. (NYSE: DQ) announced that its subsidiary, Xinjiang Daqo, has received approval from the China Securities Regulatory Commission for a private offering in China's A-share market. The company aims to raise up to RMB11 billion, with RMB8 billion earmarked for expanding polysilicon production by 100,000 metric tons in Baotou City, Inner Mongolia. The remaining funds will support working capital. This offering is contingent on market conditions and is valid until May 29, 2023.