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The project by Daqo (DQ) is anticipated to acquire certificates for renewable energy and green power as well as green electricity.

Daqo New Energy has a strong balance sheet with $3.3B in cash and no debt, providing flexibility during the downturn in polysilicon prices. The company plans to utilize its available capital for share buybacks, improving EPS for shareholders. Daqo New Energy has experienced significant revenue growth, with sales increasing due to higher average sale prices and increased capacity.

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Daqo New Energy Corp. (NYSE:DQ ) Q3 2023 Earnings Conference Call October 30, 2023 8:00 AM ET Company Participants Xiang Xu - Chairman and Chief Executive Officer Ming Yang - Chief Financial Officer Conference Call Participants Philip Shen - ROTH MKM Alan Lau - Jefferies Gordon Johnson - GLJ Research Frank Fan - Nomura Operator Good morning, and welcome to Daqo Energy Third Quarter 2023 Results Conference Call. All participants will be in listen-only mode.

Daqo New Energy (DQ) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of $1.70. This compares to earnings of $4.18 per share a year ago.

Solar stocks have been under pressure in 2023 as the global energy landscape has shifted. The resurgence of fossil fuels, especially natural gas, has made renewable energy sources less competitive and attractive.

Daqo New Energy is a leading global producer of polysilicon with competitive advantages in cost, quality, and manufacturing capabilities. China dominates the polysilicon industry due to subsidies and cost-effective production but faces risks from oversupply and substitute technologies. DQ's strong balance sheet, insider ownership, and exposure to China's renewable energy goals make it a buy, but long-term investment may be risky due to market dynamics.

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Daqo (DQ) provides an update on the $700M share repurchase program, affirming confidence in its industry and commitment to repurchase undervalued shares.

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