Daqo New Energy Corp.DQ
What Daqo New Energy Corp. does.
Photovoltaics is one of the proven and most rapidly growing renewable energy sources in the world. Energy from the sun is converted into electricity primarily through the photovoltaic effect and, to a lesser extent, through concentrated solar thermal technologies.
We are a leading high-purity polysilicon manufacturer based in China. We utilize the chemical vapor deposition process, or the “modified Siemens process,” with upgraded Hydrochlorination technology, to produce polysilicon, and have fully implemented the closed loop system to produce high-quality polysilicon cost-effectively. We manufacture and sell high-purity polysilicon to photovoltaic product manufacturers, who further process our polysilicon into ingots, wafers, cells and modules for solar power solutions. Currently, our annual production capacity for polysilicon is 305,000 MT, including 105,000 MT of production capacity in Xinjiang and 200,000 MT of production capacity in Inner Mongolia. We improve our production efficiency and increase our output through technological improvements, adoption of process innovation and refinement as well as equipment enhancement. Actual production volume may exceed the production capacity due to operational improvements we may implement at our facilities in response to market conditions.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $675.6M | $1.7B | $4.6B | $2.3B | $1.0B | $665.4M |
| Net income | $129.2M | $748.9M | $1.8B | $429.5M | -$345.2M | -$170.5M |
| Free cash flow | $91.4M | $140.5M | $1.3B | $505.3M | -$794.3M | -$123.3M |
More on DQ.
- Daqo New Energy Corp. summary
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- Daqo New Energy Corp. earnings
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- Daqo New Energy Corp. peers
Figures from Daqo New Energy Corp.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.