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Daqo New Energy ( (DQ) ) has shared an update.
On January 17, 2025, Daqo New Energy Corp. announced that its subsidiary, Xinjiang Daqo, anticipates a net loss for the fiscal year ending December 31, 2024. The estimated loss, ranging from RMB2.6 to 3.1 billion, contrasts sharply with the net profit of RMB5.8 billion reported in 2023. This financial downturn is attributed to provisions for inventory and fixed asset impairments. As Xinjiang Daqo significantly contributes to Daqo New Energy’s overall revenue and net income, this preliminary estimate signals a challenging year for the company. Stakeholders are advised to exercise caution as the actual results may differ once the internal financial processes are completed.
More about Daqo New Energy
Daqo New Energy Corp. is a leading manufacturer of high-purity polysilicon for the global solar photovoltaic (PV) industry. Founded in 2007, the company supplies high-purity polysilicon to photovoltaic product manufacturers, who process it into solar power solutions. Daqo New Energy boasts a polysilicon production capacity of 305,000 metric tons and is recognized as one of the world’s lowest cost producers in its industry.
YTD Price Performance: -6.72%
Average Trading Volume: 1,378,113
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $1.24B
For detailed information about DQ stock, go to TipRanks’ Stock Analysis page.
