Daqo New Energy Corp. Announces First Quarter 2026 Financial Results

Daqo New Energy Corp. reported its unaudited financial results for the first quarter ended March 31, 2026. The company experienced a significant decrease in revenue, from $221.7 million in Q4 2025 to $26.7 million in Q1 2026, primarily due to a reduction in sales volume amidst low selling prices. This led to a gross loss of $139.4 million and a net loss attributable to shareholders of $88.4 million. Polysilicon production volume increased slightly to 43,402 MT, but sales volume dropped sharply to 4,482 MT as the company adhered to self-regulation guidelines and declined to engage in below-cost sales. Despite the challenging market conditions, including industry overcapacity and cautious market sentiment, Daqo New Energy maintained a debt-free balance sheet with $2.0 billion in liquid assets, providing financial flexibility. The company expects polysilicon production volume for Q2 2026 to be between 35,000 MT and 40,000 MT, and for the full year 2026 to be between 140,000 MT and 170,000 MT. Management remains optimistic about the long-term prospects of the solar PV industry, driven by global energy security concerns and the transition to clean energy.