Daqo New Energy Corp · NYSE:DQ
Daqo New Energy — Q2 2025 Earnings Presentation
16 slides from Daqo New Energy's earnings presentation, Aug 26, 2025
Slide 1: Q2 2025 Results Presentation
August 26 2025 Q2 2025 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” 2
Slide 4: Management Remarks
Management Remarks Mr. Xiang Xu, Chairman and CEO of the Company, commented, “The solar PV industry faced continued challenges in the second quarter of 2025 with market prices across the solar value chain declining due to industry overcapacity and high inventory levels, remaining below cash cost lev
Slide 5: Management Remarks – Continued
Management Remarks – Continued “During the second quarter, the solar PV industry remained in a cyclical trough, although proactive initiatives started to emerge toward the end of the quarter. On the demand side, China experienced a surge in installations under market-based reform policies and set a
Slide 6: Management Remarks – Continued (2)
Management Remarks – Continued (2) “The solar PV industry continues to show strong long-term prospects. In the medium term, we believe that the combined effects of industry self-discipline and government anti-involution regulations will foster a healthier and more sustainable industry. In the long r
Slide 7: Operational and Financial Highlights in Q2 2025
Operational and Financial Highlights in Q2 2025 • Total cash, short-term investments, bank notes receivable and fixed term bank deposit balance was $2.06 billion at the end of Q2 2025, compared to $2.15 billion at the end of Q1 2025 • Polysilicon production volume was 26,012 MT in Q2 2025, compared
Slide 8: Polysilicon Facilities Update
Polysilicon Facilities Update Q2 2025 Key Figures Outlook ▪ Quarterly production volume: 26,012 MT ▪ Expected production volume in Q3 2025: ▪ Sales volume: 18,126 MT 27,000 ~ 30,000 MT ▪ Average selling prices: $4.19/kg ▪ Expected production volume in the full year of 2025: ▪ Average total productio
Slide 9: Polysilicon Manufacturing Overview
Polysilicon Manufacturing Overview Production Volume (MT) 64,961 61,014 62,278 57,664 45,306 43,592 35,326 34,236 33,401 33,702 33,848 31,383 23,616 24,810 26,012 19,777 21,008 20,185 21,102 21,684 18,097 18,406 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2022 2023 20
Slide 10: Quarterly Polysilicon Sales Volume and ASPs
Quarterly Polysilicon Sales Volume and ASPs Polysilicon External Sales Volume 63,263 59,906 53,987 51,550 43,082 42,101 42,191 38,839 37,545 33,126 28,008 25,284 23,186 21,471 23,400 21,060 21,183 19,101 18,881 18,126 13,643 11,642 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 20
Slide 11: Income Statement Summary
Income Statement Summary ($ in millions, unless otherwise stated) Q2 2025 Q1 2025 Q2 2024 Revenues 75.2 123.9 219.9 Gross (loss)/profit (81.4) (81.5) (159.2) Gross margin (108.3)% (65.8)% (72.4)% SG&A (32.1) (35.1) (37.5) R&D expense (0.8) (0.5) (1.8) (Loss)/income from operations (115.0) (114.1) (1
Slide 12: Balance Sheet Summary
Balance Sheet Summary As of As of As of ($ in millions) 6/30/2025 3/31/2025 6/30/2024 Cash, cash equivalent and restricted cash 598.6 791.9 997.5 Accounts and notes receivables 49.1 62.8 80.7 Short-term investments 418.8 168.2 219.5 Inventories 167.6 125.9 192.0 Fixed term deposit within one year 96
Slide 13: Cash Flow Summary
Cash Flow Summary 6 months ended 6 months ended ($ in millions) 6/30/2025 3/30/2024 Net (loss)/income (191.4) (129.7) Adjustments to reconcile net income to net cash provided by operating 247.1 239.1 activities Changes in operating assets and liabilities (161.2) (388.1) Net cash (used in)/provided b
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation $ in thousands 3 months Ended Jun. 30, 2025 Mar. 31, 2025 Jun. 30, 2024 Net (loss)/income (98,645) (92,733) (157,863) Income tax (benefit)/expense (8,172) (12,274) (23,283) Interest income, net (1,593) (2,670) (8,730) Depreciation & Amortization 60,253 59,245 44,958 EBITDA (n
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!