Daqo New Energy Corp
DQ
ISIN null / Valor 20260854
Daqo New Energy Corp
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About company
Daqo New Energy Corp. (NYSE: DQ), established in 2007, is a prominent player in the solar photovoltaic (PV) industry, specializing in the production of high-purity polysilicon. This key material is essential for the manufacture of solar PV products, including ingots, wafers, cells, and modules, which are integral components of solar power solutions. With a total nameplate capacity of 205,000 metric tons, Daqo New Energy positions itself as one of the world's most efficient and lowest-cost producers of high-purity polysilicon. The company serves a global market, providing its high-quality polysilicon to photovoltaic product manufacturers around the world, thereby playing a crucial role in the supply chain of the renewable energy sector.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (14.01.2026):
Daqo New Energy Corp’s third quarter of 2025 results show a clear recovery versus Q2 2025: revenue rose to $244.6 million, gross profit was $9.7 million (3.9% margin) and adjusted net income (non‑GAAP) was $3.7 million, while GAAP net loss attributable to shareholders narrowed to $14.9 million (loss per basic ADS $0.22). The improvement was driven by higher polysilicon selling prices and volumes, lower production costs, and strong liquidity with readily convertible financial assets of $2.21 billion as of September 30, 2025.
Revenue & Profitability
Q3 2025 revenue: $244.6M (Q2 2025: $75.2M). Gross profit turned positive at $9.7M (3.9% margin) vs. a gross loss of $81.4M in Q2. EBITDA (non‑GAAP) was $45.8M with an EBITDA margin of 18.7%.
Earnings & Non‑GAAP Metrics
GAAP net loss attributable to shareholders: $14.9M for Q3 2025 (loss per basic ADS $0.22). Adjusted net income (non‑GAAP, excluding share‑based comp): $3.7M; adjusted EPS (basic) $0.05.
Production & Sales Volumes
Polysilicon production: 30,650 MT in Q3 2025 (up from 26,012 MT in Q2). Sales volume: 42,406 MT (Q2: 18,126 MT) — sales exceeded production, reducing inventory levels.
Pricing & Costs
Average selling price (ASP) in Q3 2025: $5.80/kg (Q2: $4.19/kg). Average total production cost: $6.38/kg (down from $7.26/kg in Q2). Average cash cost: $4.54/kg (the company’s lowest recorded), down from $5.12/kg in Q2.
Liquidity & Balance Sheet
Readily convertible cash and near‑cash assets totaled $2.21B at Sept 30, 2025 (cash $551.6M, short‑term investments $431.3M, notes receivable $157.0M, fixed‑term deposits $1.03B). No bank loans and a strengthened balance sheet were highlighted by management.
Operating Costs & Expenses
SG&A was $32.3M in Q3 (including $18.6M non‑cash share‑based compensation). R&D was $0.6M. Loss from operations improved to $20.3M (Q2: $115.0M).
Guidance & Outlook
Daqo expects Q4 2025 polysilicon production of ~39,500–42,500 MT and full‑year 2025 production of ~121,000–124,000 MT. Management cited market recovery, regulatory measures easing overcapacity, and long‑term demand drivers for solar PV.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1633 M
Market cap (USD)
485,644
Daily traded volume (Shares)
19.41 / 18.83
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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