Daqo New Energy Corp Stock Price, News & Analysis

Daqo New Energy Corp. (NYSE: DQ), a leader in high-purity polysilicon for the solar PV industry, announced a US$120 million share repurchase program, effective from June 1, 2022 to May 31, 2023. The board authorized the repurchase of ordinary shares or American depositary shares in various transactions, without a commitment to acquire specific quantities at set times. This initiative aims to enhance shareholder value and adjust share terms based on ongoing assessments.

Daqo New Energy Corp. (NYSE: DQ) announced that its subsidiary, Xinjiang Daqo, received approval from the Shanghai Stock Exchange for a private offering in China’s A-share market. The company aims to raise up to RMB11 billion, with approximately RMB8 billion earmarked for a 100,000 metric ton polysilicon expansion project in Baotou City, Inner Mongolia. The remaining funds will support working capital needs. This initiative is pending market conditions and further approval from the China Securities Regulatory Commission.

Daqo New Energy Corp. (NYSE: DQ) reported its best-ever first quarter results for 2022, with revenues of $1,280.3 million, up from $395.5 million in Q4 2021. Polysilicon production rose to 31,383 MT, a 33% increase, and sales volume surged to 38,839 MT. Average total production cost dropped to $10.09/kg from $14.11/kg, while net income reached $535.8 million, compared to $141.3 million previously. Daqo forecasts second-quarter production between 32,000 MT and 34,000 MT.

Daqo New Energy Corp. (NYSE: DQ) announced that it has been identified by the SEC under the Holding Foreign Companies Accountable Act (HFCAA) as of April 12, 2022. This identification stems from the company's use of an auditor whose working papers cannot be fully inspected by the PCAOB. If this situation continues, Daqo's American depositary shares could be delisted from the NYSE in early 2024. The company is actively seeking solutions to protect stakeholders' interests and remains compliant with regulations in China and the U.S.

Daqo New Energy Corp. (NYSE: DQ) will release its unaudited financial results for Q1 2022, ending March 31, 2022, before U.S. markets open on April 21, 2022. A conference call is scheduled for 8:00 AM U.S. Eastern Time the same day to discuss the results. Daqo, a leading polysilicon manufacturer for the solar PV industry, boasts a total nameplate capacity of 105,000 metric tons and is recognized as one of the lowest-cost producers. Investors can access the earnings call via dial-in numbers or a webcast.

Daqo New Energy Corp. (NYSE: DQ) announced that its subsidiary, Xinjiang Daqo, received shareholder approval for a cash dividend plan for 2021. The company reported a net profit of RMB5.72 billion, with a total dividend payout of RMB1.16 billion, representing 20.18% of the net profit. The cash dividend is expected to be paid by June 7, 2022. Daqo New Energy owns 80.7% of Xinjiang Daqo. This move highlights the company's commitment to returning value to its shareholders.

Daqo New Energy Corp. (NYSE: DQ) announced on March 30, 2022, the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2021. This report includes audited consolidated financial statements and is available for download via the SEC's website or the Company's investor relations section. Daqo, a leading manufacturer of high-purity polysilicon for the solar PV industry, boasts a nameplate capacity of 105,000 metric tons, positioning itself as one of the lowest-cost producers in the sector.

Daqo New Energy Corp. (NYSE: DQ) announced its subsidiary Xinjiang Daqo is proposing a cash dividend plan of RMB 1,155,000,000, equivalent to 20.18% of its 2021 net profit of RMB 5,723,842,382. This plan is set for approval at the annual shareholders' meeting on April 7, 2022. Daqo New Energy holds an 80.7% equity interest in Xinjiang Daqo. The cash dividend reflects the company's strong financial position and commitment to returning value to shareholders.

Daqo New Energy Corp. (NYSE: DQ) announced preliminary sales volume estimates for its subsidiary, Xinjiang Daqo, in Q1 2022, projecting a range of 37,000 MT to 38,000 MT, indicating a remarkable 72.33% to 76.98% increase compared to 21,471 MT in Q1 2021. These estimates are based on current management information and may vary significantly. Investors are advised to approach these figures with caution, as actual results may differ and are not indicative of future performance.