Daqo New Energy(DQ) Prnewswire·2025-01-17 12:27Core Viewpoint - Daqo New Energy Corp. announced a significant estimated net loss for its subsidiary Xinjiang Daqo New Energy for the fiscal year 2024, marking a substantial decline from the previous year's profit [1][2]. Financial Performance - Xinjiang Daqo estimates a net loss attributable to its shareholders in the range of RMB2.6 billion to RMB3.1 billion for FY2024, compared to a net profit of RMB5.8 billion in FY2023, indicating a potential decline of approximately 145% to 153% year-over-year [2]. - The estimated losses are attributed to provisions for inventory impairment and fixed asset impairment [2]. Company Structure and Operations - Daqo New Energy holds approximately 72.4% of Xinjiang Daqo's equity interest, with the majority of the company's revenue and net income derived from Xinjiang Daqo [3]. - The company's consolidated financial results are reported in U.S. dollars in accordance with U.S. GAAP, while the estimated net loss for Xinjiang Daqo is prepared in RMB under PRC GAAP [3]. Production Capacity - Daqo New Energy is a leading manufacturer of high-purity polysilicon for the global solar PV industry, with a total polysilicon nameplate capacity of 305,000 metric tons, positioning itself as one of the world's lowest-cost producers [5].