Daqo New Energy Corp · NYSE:DQ
Daqo New Energy — Q3 2026 Earnings Presentation
16 slides from Daqo New Energy's earnings presentation, Oct 27, 2026
Slide 1: Q3 2026 Results Presentation
October 27 2026 Q3 2026 Results Presentation
Slide 2: Safe Harbor Statement
Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “antici
Slide 3: A leading manufacturer of high-purity polysilicon for the global solar PV industry
“A leading manufacturer of high-purity polysilicon for the global solar PV industry” 3
Slide 4: Management Remarks
Management Remarks Mr. Xiang Xu, Chairman and CEO of the Company, commented, "Supported by continued anti-involution policies, including price enforcement, the polysilicon sector bottomed out and rebounded in Q3, with polysilicon prices gradually recovering towards cost levels. However, downstream p
Slide 5: Management Remarks – Continued
Management Remarks – Continued "Anti-involution efforts across the solar PV sector continued during Q3. The State Administration for Market Regulation (SAMR) released price compliance guidance targeting the solar PV sector on July 31, followed in August by an industry initiative against below- cost
Slide 6: Management Remarks – Continued (2)
Management Remarks – Continued (2) "Despite the challenging market environment, the solar PV industry retains compelling long-term growth prospects. Growing vulnerabilities in global energy markets have heightened concerns about national energy security, underscoring the important role that solar PV
Slide 7: Operational and Financial Highlights in Q3 2026
Operational and Financial Highlights in Q3 2026 • Aggregate of cash, short-term investments, bank notes receivable, held-to-maturity investments and fixed term bank deposit balance was $2.06 billion at the end of Q3 2026, compared to $1.92 billion at the end of Q2 2026 • Polysilicon production volum
Slide 8: Polysilicon Facilities Update
Polysilicon Facilities Update Q3 2026 Key Figures Outlook Quarterly production volume: 53,469 MT Expected production volume in Q4 2026: Sales volume: 46,910 MT 35,000 ~ 45,000 MT Average selling prices: $4.12/kg Expected production volume in the full year of 2026: Average total productio
Slide 9: Polysilicon Manufacturing Overview
Polysilicon Manufacturing Overview Production Volume (MT) 64,961 61,01462,278 57,664 53,469 45,306 43,592 42,18143,40243,675 35,326 34,236 33,40133,70233,848 31,383 30,650 24,81026,012 23,616 20,18521,10221,684 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2021 2022 2023 2024
Slide 10: Quarterly Polysilicon Sales Volume and ASPs
Quarterly Polysilicon Sales Volume and ASPs Polysilicon External Sales Volume 63,263 59,906 53,987 51,550 46,910 43,08242,10142,191 42,406 38,83937,545 38,167 33,126 28,008 25,284 23,400 21,47121,06021,183 18,126 15,190 11,642 4,482 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 11: Income Statement Summary
Income Statement Summary ($ in millions, unless otherwise stated) Q3 2026 Q2 2026 Q3 2025 Revenues 194.2 62.7 244.6 Gross profit/(loss) (60.6) (82.7) 9.7 Gross margin (31.2)% (132.0)% 3.9% SG&A (16.3) (15.8) (32.3) R&D expense (2.7) (1.6) (0.6) Loss from operations (78.6) (98.1) (20.3) Net loss attr
Slide 12: Balance Sheet Summary
Balance Sheet Summary As of As of As of ($ in millions) 9/30/2026 6/30/2026 9/30/2025 Cash, cash equivalent and restricted cash 564.5 555.3 551.6 Accounts and notes receivables 161.6 72.0 157.0 Short-term investments 267.3 250.0 431.3 Inventories 392.1 363.5 121.4 Fixed term deposit within one year
Slide 13: Cash Flow Summary
Cash Flow Summary 9 months ended 9 months ended ($ in millions) 9/30/2026 9/30/2025 Net (loss)/income (307.1) (206.2) Adjustments to reconcile net income to net cash provided by operating 298.4 354.9 activities Changes in operating assets and liabilities (206.3) (198.7) Net cash (used in)/provided b
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation $ in thousands 3 months Ended Sep. 30, 2026 Jun. 30, 2026 Sep. 30, 2025 Net (loss)/income (73,102) (112,373) (14,844) Income tax (benefit)/expense 465 21,540 2,958 Interest income, net (951) (2,405) (2,944) Depreciation & Amortization 64,367 63,899 60,595 EBITDA (non-GAAP) (9
Slide 15: Use of Non-GAAP financial measures
Use of Non-GAAP financial measures To supplement Daqo New Energy’s consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (“US GAAP”), the Company uses certain non-GAAP financial measures that are adjusted for certain items from the most di
Slide 16: Thank you!
@ DAQO NEW ENERGY Thank you!