Daqo New Energy: Treading Water In An Increasingly Negative Polysilicon Market

Daqo New Energy Corp. receives a third consecutive Sell rating due to persistent structural and profitability challenges. DQ's production costs exceed polysilicon selling prices, utilization rates remain below 50%, and gross margins are deeply negative. Despite a recent rally and increased output guidance, DQ's market cap is unsupported by its $22.3M projected annual gross profit and ongoing losses.

Seeking Alpha • Aug 21, 2026

DAQO New Energy Q2 Earnings Call Highlights

DAQO New Energy NYSE: DQ reported a narrower second-quarter loss as it resumed normal polysilicon sales in June, though pricing remained below production costs amid weak solar demand and elevated industry inventories.

MarketBeat • Aug 20, 2026

Daqo New Energy Corp. (DQ) Q2 2026 Earnings Call Transcript

Daqo New Energy Corp. (DQ) Q2 2026 Earnings Call Transcript

Seeking Alpha • Aug 20, 2026

Daqo New Energy Announces Unaudited Second Quarter 2026 Financial Results

SHANGHAI, Aug. 20, 2026 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the second quarter ended June 30, 2026. Second Quarter 2026 Financial and Operating Highlights Aggregate of cash, short-term investments, bank notes receivable, held-to-maturity investments and fixed term bank deposit balance was $1.92 billion at the end of Q2 2026, compared to $2.00 billion at the end of Q1 2026 Polysilicon production volume was 43,675 MT in Q2 2026, compared to 43,402 MT in Q1 2026 Polysilicon sales volume was 15,190 MT in Q2 2026, compared to 4,482 MT in Q1 2026 Polysilicon average total production cost(1) was $5.95/kg in Q2 2026, compared to $5.95/kg in Q1 2026 Polysilicon average cash cost(1) was $4.57/kg in Q2 2026, compared to $4.59/kg in Q1 2026 Polysilicon average selling price (ASP) was $4.04/kg in Q2 2026, compared to $5.96/kg in Q1 2026 Revenue was $62.7 million in Q2 2026, compared to $26.7 million in Q1 2026 Gross loss was $82.7 million in Q2 2026, compared to $139.4 million in Q1 2026; gross margin was negative 132.0% in Q2 2026, compared to negative 521.5% in Q1 2026 Net loss attributable to Daqo New Energy Corp. shareholders was $81.2 million in Q2 2026, compared to $88.4 million in Q1 2026; loss per basic American Depositary Share (ADS)(3) was $1.20 in Q2 2026, compared to $1.31 in Q1 2026 Adjusted net loss (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders was $81.2 million in Q2 2026, compared to $88.4 million in Q1 Adjusted loss per basic ADS(3) (non-GAAP)(2) was $1.20 in Q2 2026, compared to adjusted loss per basic ADS(3) (non-GAAP)(2) of $1.31 in Q1 2026; EBITDA (non-GAAP)(2) was negative $29.3 million in Q2 2026, compared to negative $83.1 million in Q1 2026; EBITDA margin (non-GAAP)(2) was negative 46.8% in Q2 2026, compared to negative 311.1% in Q1 2026 Three months ended US$ millions except as indicated otherwise Jun. 30, 2026 Mar. 31, 2026 Jun. 30, 2025 Revenues 62.7 26.7 75.2 Gross loss (82.7) (139.4) (81.4) Gross margin (132.0) % (521.5) % (108.3) % Loss from operations (98.1) (150.8) (115.0) Net loss attributable to Daqo New Energy Corp. shareholders (81.2) (88.4) (76.5) Loss per basic ADS(3) ($ per ADS) (1.20) (1.31) (1.14) Adjusted net loss (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders (81.2) (88.4) (57.9) Adjusted loss per basic ADS(3) (non-GAAP)(2) ($ per ADS) (1.20) (1.31) (0.86) EBITDA (non-GAAP)(2) (29.3) (83.1) (48.2) EBITDA margin (non-GAAP)(2) (46.8) % (311.1) % (64.0) % Polysilicon sales volume (MT) 15,190 4,482 18,126 Polysilicon average total production cost ($/kg)(1) 5.95 5.95 7.26 Polysilicon average cash cost (excl.

PRNewsWire • Aug 20, 2026

Daqo New Energy (DQ) Reports Q2 Loss, Tops Revenue Estimates

Daqo New Energy (DQ) came out with a quarterly loss of $1.2 per share versus the Zacks Consensus Estimate of a loss of $0.28. This compares to a loss of $1.14 per share a year ago.

Zacks Investment Research • Aug 20, 2026

Daqo New Energy to Announce Unaudited Financial Results for the Second Quarter of 2026 on August 20, 2026

SHANGHAI, Aug. 6, 2026 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced it will release its unaudited financial results for the second quarter ended June 30, 2026, before U.S. markets open on Thursday, August 20, 2026. The Company will hold a conference call to discuss the financial results at 8:00 AM U.S. Eastern Time on Thursday, August 20, 2026 (8:00 PM Beijing / Hong Kong time on the same day).

PRNewsWire • Aug 6, 2026

Daqo (DQ) Soars 13.0%: Is Further Upside Left in the Stock?

Daqo (DQ) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Zacks Investment Research • Aug 4, 2026

Daqo New Energy Issues Its 2025 Environmental, Social and Governance (ESG) Report

SHANGHAI, July 30, 2026 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy," the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today published its 2025 Environmental, Social and Governance ("ESG") report. The 2025 ESG report highlights the Company's key achievements with respect to corporate governance, innovation and R&D, employee rights protection, environmental sustainability and emission reductions, as well as social responsibility.

PRNewsWire • Jul 30, 2026

Polysilicon Maker Daqo New Energy To Produce Electrical Infrastructure For AI Data Centers

The polysilicon maker will partner with the Kunshan government to build a 6 billion yuan base producing electrical equipment to power AI data centers

Benzinga • Jun 5, 2026

Daqo New Energy Signs Investment Agreement to Establish a Manufacturing Base for Next-Generation Energy Solutions for AI Data Centers

SHANGHAI, June 3, 2026 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy," the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that its subsidiary, Daqo Energy Technology (Shanghai) Co., Ltd. ("Daqo Shanghai"), has signed an investment agreement with the Management Committee of the Kunshan Economic and Technological Development Zone to establish a new manufacturing base.

PRNewsWire • Jun 3, 2026