SHANGHAI, Aug. 26, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy," the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the second quarter of 2024.Second Quarter 2024 Financial and Operating HighlightsPolysilicon production volume was 64,961 MT in Q2 2024, compared to 62,278 MT in Q1 2024Polysilicon sales volume was 43,082 MT in Q2 2024 compared to 53,987 MT in Q1 2024Polysili ...

SHANGHAI, Aug. 12, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced it plans to release its unaudited financial results for the second quarter of 2024 ended June 30, 2024 before U.S. markets open on Monday, August 26, 2024.The Company has scheduled a conference call to discuss the results at 8:00 AM U.S. Eastern Time on August 26, 2024 (8:00 PM Beijing / Hong Kong ti ...

Daqo New Energy Corp. (DQ) , a leading producer of high-purity polysilicon for the global solar PV industry, recently announced the approval of a $100-million share repurchase program by its board of directors. This program will be effective through Jun 30, 2025.Under this authorization, Daqo New Energy can repurchase up to $100 million of its outstanding ordinary or American depositary shares (ADSs) through open-market purchases, negotiated off-market transactions, block trades or other legally permissible ...

Core Viewpoint - Daqo New Energy Corp. has announced a US$100 million share repurchase program, reflecting confidence in its business amidst industry challenges [1][2]. Company Overview - Daqo New Energy Corp. is a leading manufacturer of high-purity polysilicon for the global solar PV industry, founded in 2007 [3]. - The company has a total polysilicon nameplate capacity of 205,000 metric tons and is recognized as one of the world's lowest cost producers of high-purity polysilicon [3]. Share Repurchase Program - The board of directors has authorized the repurchase of up to US$100 million worth of its own shares, effective until June 30, 2025 [1]. - The program will be funded primarily from available cash and existing cash balance, with no obligation to acquire a specific number of shares at any particular time [2]. - The timing and amount of shares repurchased will depend on market conditions and the company's operational status [2].

SHANGHAI, July 17, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy," the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that its subsidiary Xinjiang Daqo has provided an update on its litigation event.   In January 2024, Xinjiang Daqo received a court notice relating to a contract dispute lawsuit filed against it by Xinjiang Xian'an New Materials Co., Ltd. ("Xinjiang Xian'an") and its affiliate, Xinjiang Dengbo ...

SHANGHAI, July 9, 2024 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy," the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today published its 2023 Environmental, Social and Governance ("ESG") report. The 2023 ESG report details key accomplishments resulting from the Company's efforts with respect to corporate governance, innovation and R&D, employee rights protection, environmental sustainability and emission control, as well as s ...

zhongguoThe solar industry has been obliterated in the past months, and fairly so because of incompetent management. One of the largest losers was none other than SolarEdge (SEDG), who thought it would be a good idea to throw cash towards buybacks in a very competitive and depressing environment. SolarEdge has neither pricing power nor product differentiation compared to competitors and that is highly visible in their operational performance. Months after doing buybacks, SolarEdge realized the mistake d ...

Intelligent investors actively seek out sleeper stocks. These businesses hold substantial growth potential, yet investors frequently disregard them, often overlook their value, and might miss out on significant profits if not discovered early. These are sleeper stocks set to explode by 2028. Indeed, every firm has distinct market positioning and factors that make them attractive investments. These businesses, which include a leader in the generation of solar energy, have a strong moat, remarkable growth met ...

April 29, 2024 Q1 2024 Results Presentation Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “guidance” and similar statements. Among other things, the outlook for the second quarter and the full ye ...

Financial Data and Key Metrics Changes - Revenues for Q1 2024 were $415.3 million, down from $476.3 million in Q4 2023 and $709 million in Q1 2023, primarily due to lower average selling prices and reduced polysilicon sales volume [15][18] - Gross profit decreased to $72 million with a gross margin of 17.4%, compared to $87 million and 18.3% in Q4 2023, and $506 million and 71.4% in Q1 2023 [15][18] - Net income attributable to shareholders was $15.5 million, down from $53.3 million in Q4 2023 and $278.8 million in Q1 2023, with earnings per basic ADS at $0.24 compared to $0.76 and $3.56 respectively [18] - EBITDA for the quarter was $76.9 million, down from $128 million in Q4 2023 and $490 million in Q1 2023, with an EBITDA margin of 18.5% [18] Business Line Data and Key Metrics Changes - Total production volume for Q1 2024 was 62,278 metric tons, an increase of 1,264 metric tons from the previous quarter, with the Inner Mongolia 5A facility contributing 46% of total production [7][8] - The N-type product mix increased from 60% in December 2023 to 72% in March 2024, reflecting improvements in R&D and purity [7] Market Data and Key Metrics Changes - Polysilicon prices dropped significantly, with prices for Tier-1 producers falling to RMB47 to RMB54 per kilogram by late April, indicating a challenging market environment [10][11] - The solar market in China saw strong growth, with newly installed solar PV capacity reaching a record high of 216.9 gigawatts in 2023, and Q1 2024 installations at 45.7 gigawatts, a 36% year-over-year growth [12] Company Strategy and Development Direction - The company plans to maintain full production with an expected Q2 2024 production volume of approximately 60,000 to 63,000 metric tons, and anticipates full-year production of 280,000 to 300,000 metric tons, a 40% to 50% increase from 2023 [8][9] - The company is strategically considering potential expansions outside of China, including the U.S. and Middle East, while postponing non-polysilicon manufacturing capacity expansion plans to conserve capital [25][26] Management's Comments on Operating Environment and Future Outlook - Management noted that the current low prices and market downturn could lead to capacity rationalization and the exit of unprofitable players from the market, ultimately resulting in a healthier market [11][12] - The company remains optimistic about long-term growth in the solar PV market, driven by increasing demand and favorable policies for renewable installations [14] Other Important Information - The company had a strong cash balance of $2.7 billion and a combined cash and bank note receivable balance of $2.9 billion by the end of Q1 2024 [8] - Capital expenditure plans have been reduced to approximately $700 million for the year, down from a previous estimate of $1.1 billion to $1.2 billion [22] Q&A Session Summary Question: Guidance on buyback or dividends planned for this year - Management indicated that the Board is considering share repurchase but is prioritizing capital conservation due to current market conditions [25] Question: Current inventory levels and sales volume - The company reported approximately two weeks of finished goods inventory, one of the lowest in the industry, and noted that sales volume was impacted by delayed orders from customers [30] Question: Future polysilicon pricing outlook - Management believes current pricing is unsustainable for most producers, and expects to see shutdowns in the industry if low prices persist [36][53] Question: Capacity in the system and future outlook - Current capacity in the system is estimated at around 1.8 million to 2 million tons per year, with expectations for continued cost reductions [62]