DQ

DAQO New Energy Corp. manufactures polysilicon, a key raw material used in solar photovoltaic cells and modules. The company operates polysilicon production facilities in Xinjiang, China, producing high-purity polysilicon used by solar wafer and cell manufacturers globally. DAQO serves solar manufacturers requiring polysilicon for crystalline silicon solar cell production. The company benefits from low-cost production, vertical integration potential, and solar industry growth. Founded in 2007 and headquartered in Shanghai, China, DAQO has built significant polysilicon production capacity. The company faces intense polysilicon price volatility, overcapacity in Chinese polysilicon production driving price declines, competitive pressures from other Chinese producers, energy cost sensitivity, and geopolitical risks including U.S. import restrictions related to Xinjiang production. DAQO has experienced dramatic swings in profitability reflecting polysilicon price cycles. The company operates in capital-intensive, commodity-like markets with Chinese government influence affecting industry dynamics. DAQO continues to manage production, navigate challenging pricing environments, address geopolitical concerns, and work to maintain competitiveness in highly competitive and volatile polysilicon markets.