Daqo New Energy Corp · NYSE:DQ
Daqo New Energy — Q2 2026 Earnings Presentation
16 slides from Daqo New Energy's earnings presentation, Aug 20, 2026
Slide 1: Q2 2026 Results Presentation
August 20 2026 Q2 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, "In the second quarter of 2026, market sentiment across the solar PV industry remained cautious amid weak domestic demand and elevated inventory levels, which drove prices lower across the solar value chain. Despite these h
Slide 5: Management Remarks – Continued
Management Remarks – Continued “In light of the current market dynamics, we expect total polysilicon production volume in the third quarter of 2026 to be approximately 40,000 MT to 45,000 MT. For the full year of 2026, we expect production volume to be in the range of 160,000 MT to 180,000 MT." "Pol
Slide 6: Management Remarks – Continued (2)
Management Remarks – Continued (2) "We are also diversifying beyond our core polysilicon business to hedge against solar PV cyclicality, targeting the fast-growing AI data center (AIDC) power infrastructure market. On June 3, 2026, we announced the signing of an investment agreement to establish a m
Slide 7: Operational and Financial Highlights in Q2 2026
Operational and Financial Highlights in Q2 2026 • Aggregate of cash, short-term investments, bank notes receivable, held-to-maturity investments and fixed term bank deposit balance was $1.92 billion at the end of Q2 2026, compared to $2.00 billion at the end of Q1 2026 • Polysilicon production volum
Slide 8: Polysilicon Facilities Update
Polysilicon Facilities Update Q2 2026 Key Figures Outlook Quarterly production volume: 43,675 MT Expected production volume in Q3 2026: Sales volume: 15,190 MT 40,000 ~ 45,000 MT Average selling prices: $4.04/kg Expected production volume in the full year of 2026: Average total productio
Slide 9: Polysilicon Manufacturing Overview
Polysilicon Manufacturing Overview Production Volume (MT) 64,961 61,014 62,278 57,664 45,306 43,592 42,181 43,402 43,675 35,326 34,236 33,401 33,702 33,848 31,383 30,650 23,616 24,810 26,012 20,185 21,102 21,684 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 2024 20
Slide 10: Quarterly Polysilicon Sales Volume and ASPs
Quarterly Polysilicon Sales Volume and ASPs Polysilicon External Sales Volume 63,263 59,906 53,987 51,550 43,082 42,101 42,191 42,406 38,839 37,545 38,167 33,126 28,008 25,284 23,400 21,471 21,060 21,183 18,126 15,190 11,642 4,482 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 202
Slide 11: Income Statement Summary
Income Statement Summary ($ in millions, unless otherwise stated) Q2 2026 Q1 2026 Q2 2025 Revenues 62.7 26.7 75.2 Gross profit/(loss) (82.7) (139.4) (81.4) Gross margin (132.0)% (521.5)% (108.3)% SG&A (15.8) (12.2) (32.1) R&D expense (1.6) (0.8) (0.8) Loss from operations (98.1) (150.8) (115.0) Net
Slide 12: Balance Sheet Summary
Balance Sheet Summary As of As of As of ($ in millions) 6/30/2026 3/31/2026 6/30/2025 Cash, cash equivalent and restricted cash 555.3 559.4 598.6 Accounts and notes receivables 72.0 20.9 49.1 Short-term investments 250.0 288.2 418.8 Inventories 363.5 258.3 167.6 Fixed term deposit within one year 92
Slide 13: Cash Flow Summary
Cash Flow Summary 6 months ended 6 months ended ($ in millions) 6/30/2026 6/30/2025 Net (loss)/income (234.0) (191.4) Adjustments to reconcile net income to net cash provided by operating 267.7 247.1 activities Changes in operating assets and liabilities (309.9) (161.2) Net cash (used in)/provided b
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation $ in thousands 3 months Ended Jun. 31, 2026 Mar. 31, 2026 Jun. 30, 2025 Net (loss)/income (112,373) (121,667) (98,645) Income tax (benefit)/expense 21,540 (21,644) (8,172) Interest income, net (2,405) (2,516) (1,593) Depreciation & Amortization 63,899 62,705 60,253 EBITDA (no
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!