Daqo New Energy Corp (ADR) (N:DQ)
Business Focus: Photovoltaic Solar Systems & Equipment
| Sector: Energy | Industry: Renewable Energy Equipment & Services |
| Company Contact | |
| Address: | 666 Longdu Avenue CHONGQING CHO 404000 |
| Tel: | 86-187-16585553 |
| Website: | www.dqsolar.com |
| IR: | See website |
| Key People | ||
| Xiang Xu Chairman of the Board, Chief Executive Officer | Ming Yang Chief Financial Officer | |
| Business Overview |
| Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company's segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions. The Company offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling and solidification needs. The Company offers wafers through its downstream photovoltaic product manufacturing business. The Company also provides wafer original equipment manufacturer (OEM) service to external customers through tolling agreements by processing polysilicon to produce ingot and wafer. Its annual capacity for polysilicon is approximately 12,150 metric tons (MT) in Xinjiang. The Company's wafer manufacturing annual capacity is approximately 90 million pieces. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Daqo New Energy Corp (ADR) revenues decreased 50% to $2.31B. Net income decreased 77% to $421.2M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net income also reflects Investment income decrease of 90% to $109K (income). Basic Earnings per Share excluding Extraordinary Items increased from $4.80 to $5.64. |
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