Daqo New Energy ( (DQ) ) has shared an update.
Daqo New Energy Corp. announced its unaudited financial results for the fourth quarter and fiscal year of 2024, revealing a challenging year marked by a net loss of $345.2 million, a significant decline from the previous year’s net income of $429.5 million. The company faced a tough market environment with excess capacity in the solar PV industry, leading to sharp price declines and a gross loss of $212.9 million for the year. Despite these challenges, Daqo managed to increase its annual polysilicon production volume by 3.7% to 205,068 MT, meeting its guidance. The company also shifted its product mix significantly towards N-type polysilicon, which accounted for 70% of total production in 2024, up from 40% in 2023.
More about Daqo New Energy
Daqo New Energy Corp. is a leading manufacturer of high-purity polysilicon, primarily serving the global solar photovoltaic (PV) industry. The company focuses on producing polysilicon, a key raw material used in solar panels, and has a significant presence in the solar PV market.
YTD Price Performance: 8.15%
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Technical Sentiment Consensus Rating: Buy
Current Market Cap: $1.44B
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