Daqo Energy(SH:688303) Zhong Guo Jing Ying Bao·2025-10-28 04:25Group 1 - The core viewpoint of the article highlights that Daqo Energy (688303.SH) has turned a profit in the third quarter of 2025, achieving a net profit of 73.48 million yuan, driven by a recovery in the polysilicon market with both volume and price increases [1] - Daqo Energy reported a revenue of 1.773 billion yuan in the third quarter, marking a year-on-year increase of 24.75% [1] - Despite the positive performance in Q3, Daqo Energy faced a significant loss of 1.147 billion yuan in the first half of 2025 due to an imbalance in supply and demand in the polysilicon market, leading to a total loss of 1.073 billion yuan for the first three quarters [1] Group 2 - The current polysilicon prices are stabilizing, with the average transaction price for n-type re-investment material at 53,200 yuan per ton and n-type granular silicon at 50,500 yuan per ton, remaining unchanged week-on-week [1] - The polysilicon industry is undergoing a critical period of structural reshaping, with supply significantly contracting year-on-year, yet inventory is slightly accumulating, indicating relatively weak terminal demand [1] - Industry policies and market expectations are expected to be the main factors supporting the stable operation of the polysilicon market in the short term [1] Group 3 - In addition to Daqo Energy, GCL-Poly Energy (03800.HK) also reported a profit of approximately 960 million yuan from its photovoltaic materials business during the same period, which includes a non-recurring tax benefit of about 640 million yuan from the sale of an associate [2]