Xinjiang Daqo Faces New Trial in Ongoing Legal Dispute

Daqo New Energy ( (DQ) ) has shared an update.

In January 2024, Xinjiang Daqo, a subsidiary of Daqo New Energy, was involved in a legal dispute with Xinjiang Xian’an New Materials and Xinjiang Dengbo New Energy over a contract termination and compensation claims. Initially, a court ruled in favor of terminating the agreement and ordered Xinjiang Daqo to pay RMB3.16 million, rejecting larger claims for consequential damages. However, the decision was appealed, and the second instance court has now vacated the initial ruling, remanding the case for a new trial. The final impact on Xinjiang Daqo remains uncertain pending the outcome of the retrial.

More about Daqo New Energy

Daqo New Energy Corp. operates in the renewable energy sector, primarily focusing on the production of high-purity polysilicon for the solar photovoltaic industry. The company is based in China and is a significant player in the global solar energy market.

YTD Price Performance: -5.83%

Average Trading Volume: 824,969

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $1.25B

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