DQ News & Events

Reports Q4 revenue $221.7M, consensus $276.94M. Xiang Xu, CEO of Daqo New Energy, commented, "In 2025, China's anti-involution initiatives supported the solar PV industry's gradual emergence from a cyclical downturn. As a result, solar product market prices rebounded from the third quarter onward, with the polysilicon sector posting the most notable gains. Following with this trend, our utilization rate increased from 33% in Q1 to 55% in Q4, bringing our annual production volume to 123,652 MT in line with our guidance of 121,000 MT to 124,000 MT, representing a 39.7% year-over-year decrease from 205,068 MT in 2024. Furthermore, our 2025 sales volume reached 126,707 MT, exceeding production volume and reducing year-end inventory to a reasonable level."

The company said, "The Company expects to produce approximately 35,000 MT to 40,000 MT of polysilicon during the first quarter of 2026. The Company expects to produce approximately 140,000 MT to 170,000 MT of polysilicon for the full year of 2026, inclusive of the impact of the Company's annual facility maintenance."