Daqo New Energy Corp · NYSE:DQ
Daqo New Energy — Q1 2025 Earnings Presentation
16 slides from Daqo New Energy's earnings presentation, Apr 29, 2025
Slide 1: Q1 2025 Results Presentation
April 29 2025 Q1 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, “In the first quarter of 2025, the solar PV industry continued to face significant challenges. Overcapacity persisted, and polysilicon prices stayed below cash cost levels. Although this caused Daqo New Energy to sustain qu
Slide 5: Management Remarks – Continued
Management Remarks – Continued “During the first quarter, polysilicon producers implemented self-discipline measures to mitigate the impact of irrational competition amid falling prices, resulting in an industry-wide capacity utilization of approximately 50%. According to industry data, domestic pol
Slide 6: Management Remarks – Continued (2)
Management Remarks – Continued (2) “The solar PV industry continued to show promising prospects. China’s new solar PV installations reached 59.71GW in the first quarter, a robust 30.5% year-over-year growth. In the long run, as one of the most cost-effective and sustainable energy sources worldwide,
Slide 7: Operational and Financial Highlights in Q1 2025
Operational and Financial Highlights in Q1 2025 • Total cash, short-term investments, bank note receivables and fixed term bank deposit balance was $2.15 billion at the end of Q1 2025, compared to $2.22 billion at the end of Q4 2024 • Polysilicon production volume was 24,810 MT in Q1 2025, compared
Slide 8: Polysilicon Facilities Update
Polysilicon Facilities Update Q1 2025 Key Figures Outlook ▪ Quarterly production volume: 24,810 MT ▪ Expected production volume in Q2 2025: ▪ Sales volume: 28,008 MT 25,000 ~ 28,000 MT ▪ Average selling prices: $4.37/kg ▪ Expected production volume in the full year of 2025: ▪ Average total productio
Slide 9: Polysilicon Manufacturing Overview
Polysilicon Manufacturing Overview Production Volume (MT) 64,961 61,014 62,278 57,664 45,306 43,592 35,326 34,236 33,401 33,702 33,848 31,383 23,616 24,810 19,777 21,008 20,185 21,102 21,684 18,097 18,406 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2021 2022 2023 2024 2025 Ca
Slide 10: Quarterly Polysilicon Sales Volume and ASPs
Quarterly Polysilicon Sales Volume and ASPs Polysilicon External Sales Volume 63,263 59,906 53,987 51,550 43,082 42,101 42,191 38,839 37,545 33,126 28,008 25,284 23,186 21,471 23,400 21,060 21,183 19,101 18,881 13,643 11,642 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2020 2021 20
Slide 11: Income Statement Summary
Income Statement Summary ($ in millions, unless otherwise stated) Q1 2025 Q4 2024 Q1 2024 Revenues 123.9 195.4 415.3 Gross (loss)/profit (81.5) (65.3) 72.1 Gross margin (65.8)% (33.4)% 17.4% SG&A (35.1) (29.4) (38.4) Long-lived assets impairment - (175.6) - Allowance for expected credit loss - (18.1
Slide 12: Balance Sheet Summary
Balance Sheet Summary As of As of As of ($ in millions) 3/31/2025 12/31/2024 3/31/2024 Cash, cash equivalent and restricted cash 791.9 1,038.3 2,689.3 Accounts and notes receivables 62.8 55.2 194.1 Short-term investments 168.2 9.6 - Inventories 125.9 149.9 191.2 Fixed term deposit within one year 1,
Slide 13: Cash Flow Summary
Cash Flow Summary 3 months ended 3 months ended ($ in millions) 3/31/2025 3/31/2024 Net (loss)/income (92.7) 28.2 Adjustments to reconcile net income to net cash provided by operating 123.8 75.4 activities Changes in operating assets and liabilities (69.9) (219.5) Net cash (used in)/provided by oper
Slide 14: Non-GAAP Reconciliation
Non-GAAP Reconciliation $ in thousands 3 months Ended Mar. 31, 2025 Dec. 31, 2024 Mar. 31, 2024 Net (loss)/income (92,733) (241,512) 28,154 Income tax (benefit)/expense (12,274) (48,973) 14,356 Interest income, net (2,670) (6,761) (12,269) Depreciation & Amortization 59,245 60,740 46,669 EBITDA (non
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!