Daqo New Energy Corp. filings document a foreign private issuer whose American depositary shares represent ordinary shares and whose business centers on high-purity polysilicon for solar PV manufacturers. Form 6-K reports furnish press releases on financial results, production volumes, sales volumes, costs, average selling prices, liquidity measures, and earnings-call notices.
The company’s regulatory record also includes annual Form 20-F reporting with audited consolidated financial statements, business and risk disclosures, and governance information. AGM notices and related exhibits document shareholder meeting procedures, while subsidiary-related disclosures may include Xinjiang Daqo financial estimates prepared under PRC GAAP.
Daqo New Energy Corp. reported weaker 2025 sales but sharply improved profitability metrics as polysilicon pricing and utilization stabilized. Q4 2025 revenue was $221.7 million, with gross margin improving to 7.0% and net loss to shareholders narrowing to $7.3 million. Q4 EBITDA reached $52.5 million with a 23.7% margin, supported by production cost reductions to $5.83/kg and record cash cost of $4.46/kg.
For full year 2025, revenue fell to $665.4 million from $1,029.1 million as polysilicon ASP slipped to $5.25/kg and sales volumes declined. Even so, net loss to shareholders shrank to $170.5 million from $345.2 million, and EBITDA turned positive at $1.7 million versus a $337.4 million loss in 2024. Operating cash flow swung to a $56.1 million inflow.
The company ended 2025 with highly liquid assets totaling $2.27 billion, including $980.3 million in cash and $972.4 million in fixed term deposits, and reported no debt. Management guides polysilicon production of 35,000–40,000 MT in Q1 2026 and 140,000–170,000 MT for full year 2026, citing Chinese anti-overcapacity policies and long-term solar demand as key support factors.
Daqo New Energy Corp. will release its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025 before U.S. markets open on Thursday, February 26, 2026. These figures will give investors an updated view of the company’s performance in the global solar polysilicon market.
The company will host a conference call to discuss the results at 8:00 U.S. Eastern Time on February 26, 2026, which is 9:00 Beijing / Hong Kong time. Investors can join via toll-free and international dial-in numbers or listen through a webcast, with a replay available until March 5, 2026.
Daqo New Energy Corp. has a planned sale of American depositary shares, each representing 5 ordinary shares, under a notice related to Rule 144. The planned transaction covers 200,000 ADSs with an aggregate market value of $6,614,000.00, to be executed through The Core Securities Co., Ltd. on the NYSE around 12/04/2025. The filing notes that these securities were acquired on 09/06/2025 via a Share Incentive Plan from Daqo New Energy Corp. as restricted stock units. For context, the number of ADSs outstanding is stated as 67,547,032.
Daqo New Energy Corp. received an amended Schedule 13G reporting beneficial ownership by Percy Rockdale LLC, Continental General Insurance Company and affiliated entities, and Michael Gorzynski.
As of September 30, 2025, Mr. Gorzynski may be deemed to beneficially own 33,375,960 Shares (9.99%), including 33,209,930 Shares (9.95%) held via CGIC and 166,030 Shares (0.05%) via Percy Rockdale. Percentages are based on 333,759,632 Shares outstanding as of December 31, 2024. The holdings are reported in ADS terms where each ADS represents five Ordinary Shares.
The filers certify the securities were not acquired and are not held for the purpose of changing or influencing control.
Daqo New Energy (DQ): Notice of proposed sale under Rule 144. A selling holder filed to sell up to 10,000 American depositary shares, each representing 5 ordinary shares. The filing lists an aggregate market value of $310,000 and cites an approximate sale date of 11/12/2025 on the NYSE.
The 10,000 ADS were acquired through RSU vesting on 09/06/2025. The named broker is The Core Securities Co., Ltd. Form 144 is a notice of intent to sell restricted or control securities and does not itself consummate a sale.
Daqo New Energy reported an update on a contract dispute involving its subsidiary Xinjiang Daqo New Energy and two former service providers, Xinjiang Xian’an New Materials and Xinjiang Dengbo New Energy. The plaintiffs initially sought economic losses of RMB1,958.5 million, later reduced to RMB742.7 million.
The first instance court’s original verdict in July 2024 terminated the business cooperation agreement and awarded the plaintiffs RMB3.16 million for losses and attorney fees, while rejecting consequential damage claims. After appeal and remand, a retrial verdict in September 2025 again terminated the agreement and increased compensation to RMB3.30 million, still rejecting consequential damages.
The plaintiffs have now appealed this retrial decision, requesting vacation of the first instance verdict and compensation of RMB744.9 million plus litigation costs and attorney fees. The company states that the impact on Xinjiang Daqo will depend on the final verdict.