DQ Stock Recent News

Warren Buffet said, "The market is a system of transferring money from the impatient to the patient." This saying and the underlying implications could not go better with what is going on with this latest quarterly announcement.

Daqo New Energy (DQ) is likely to have gained from healthy demand for polysilicon, higher prices and actions to improve efficiency in Q4.

Daqo New Energy has neared 52 week lows in January admit falling polysilicon prices, yet all of this was to be expected and momentum is building up for a rally. Higher polysilicon prices sustainable till at least Q3 2023, before more production comes online.

SHANGHAI , Feb. 21, 2023 /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 plans to release its unaudited financial results for the fourth quarter and fiscal year of 2022 ended December 31, 2022 before U.S. markets open on Tuesday, February 28, 2023. The Company has scheduled a conference call to discuss the results at 8:00 AM U.S. Eastern Time on February 28, 2023 (9:00 PM Beijing / Hong Kong time on the same day).

Daqo New Energy Corp. is a Chinese manufacturing company that produces polysilicon on behalf of clients in the photovoltaic solar power industry. Daqo is in the process of expanding its annual production capacity to 305,000 metric tons of polysilicon by the end of 2023, a nearly 50% increase from current levels.

These companies are growing their revenues at blistering speeds.

Daqo New Energy (NYSE: DQ) has been quietly expanding its annual polysilicon production capacity from a mere 18,000 Metric Tons in FY2018 to a current 132,000 Metric Tons as of 3Q'22. This massive growth is shown in their achieved economies of scale and lower production costs, which stood at approximately $9.40/kg in FY2016 to a fantastic $6.82/kg as of 3Q'22.

Daqo is one of the 1st tier leaders with cost advantages in the polysilicon segment, having a balanced demand/supply. The firm is increasing production capacity to capitalize on a growing market and increase profits.

Polysilicon prices have collapsed as the day of reckoning arrived for the industry after a record run in 2022. We cautioned investors to be wary of such a normalization phase, as signs were already brewing.

China stocks took off early Tuesday after health officials announced plans to scrap covid restrictions, travel requirements in early January The post China Stocks Take Off With More Coronavirus Restrictions Set To End appeared first on Investor's Business Daily.