The execution of Daqo New Energy Corp. arrangement for a 50GW huge size sun based wafer limit will be completed in three stages. Development of the primary stage, with a creation limit of 15GW, has effectively started and is required to be finished before the finish of June 2021 and completely operational by September 2021. Stage II is relied upon to arrive at full Stock Under NEWS RADAR of 15GW in 2022, and Phase III will bring extra 20GW of the arrangement online before the finish of 2023.
Under the stock understanding, Daqo New Energy Corp will give Gaojing high-virtue mono-grade polysilicon in an aggregate sum of 45,900 MT between June 2021 and May 2024. Genuine costs will be haggled by the two players month to month as indicated by economic situations. As a feature of the stock understanding, Gaojing will make a settlement ahead of time to Daqo New Energy.
Contents
First Quarter 2018 Financial and Operating Highlights
- Polysilicon production volume of 5,657 MT in Q1 2018, an increase from 5,339 MT in Q4 2017
- Polysilicon external sales volume of 5,411 MT in Q1 2018, an increase from 4,730 MT in Q4 2017
- Average total production cost of $9.19/kg in Q1 2018, compared to $9.40/kg in Q4 2017
- Polysilicon average cash cost of $7.53/kg in Q1 2018, compared to $7.64/kg in Q4 2017
- Solar wafer sales volume of 13.3 million pieces in Q1 2018, compared to 22.3 million pieces in Q4 2017
- Revenue of $103.3 million in Q1 2018, compared to $103.7 million in Q4 2017
- Gross profit of $46.2 million in Q1 2018, compared to $46.9 million in Q4 2017. Gross margin of 44.8% in Q1 2018, compared to 45.2% in Q4 2017
- Non-GAAP gross margin of 45.2% in Q1 2018, compared to 45.6% in Q4 2017
- EBITDA (non-GAAP) of $51.7 million in Q1 2018, compared to $53.6 million in Q4 2017
- EBITDA margin (non-GAAP) of 50.0% in Q1 2018, compared to 51.7% in Q4 2017
- Net income attributable to Daqo New Energy Corp shareholders of $31.6 million in Q1 2018, compared to $33.7 million in Q4 2017 and $22.9 million in Q1 2017
- Earnings per basic American Depository Share (ADS) of $2.91 in Q1 2018, compared to $3.16 in Q4 2017, and $2.18 in Q1 2017
- Adjusted net income (non-GAAP) attributable to Daqo New Energy shareholders of $32.9 million in Q1 2018, compared to $35.3 million in Q4 2017 and $24.8 million in Q1 2017
- Adjusted earnings per basic ADS (non-GAAP) of $3.03 in Q1 2018, compared to $3.31 in Q4 2017, and $2.36 in Q1 2017
Full Year 2020 Financial and Operating Highlights
- Polysilicon creation volume was 77,288 MT in 2020, contrasted with 41,556 MT in 2019
- Polysilicon deals volume was 74,812 MT in 2020, contrasted with 38,110 MT in 2019
- Income was $675.6 million out of 2020, contrasted with $350.0 million out of 2019
- Net benefit was $234.0 million out of 2020, contrasted with $80.1 million out of 2019. Net edge was 34.6% in 2020, contrasted with 22.9% in 2019
- EBITDA (non-GAAP)(2) was $256.5 million out of 2020, contrasted with $95.3 million out of 2019
- EBITDA edge (non-GAAP)(2) was 38.0% in 2020, contrasted with 27.2% in 2019
- Total compensation inferable from Daqo New Energy Corp. investors was $129.2 million out of 2020, contrasted with $29.5 million out of 2019
- Profit per essential ADS was $1.82 in 2020, contrasted with $0.43 in 2019
- Changed total compensation (non-GAAP)(2) inferable from Daqo New Energy Corp. investors was $147.1 million out of 2020, contrasted with $47.4 million of every 2019
Management Remarks
Mr. Longgen Zhang, Daqo New Energy Corp, remarked, “We are exceptionally satisfied to report a solid quarter as far as operational and monetary outcomes to bring an effective close of the year 2020. I might want to thank our whole group for their diligent effort, responsibility and commitment in accomplishing these superb outcomes. Stock News Buzz: Landec Corporation the quarter we created 21,008 MT of polysilicon, a record-high in our organization’s set of experiences.
The increment in our expense in US dollar terms contrasted with the second from last quarter was the aftereffect of conversion scale vacillations because of the RMB appreciation. In 2021, we will proceed with our endeavors to diminish cost, as we profit by our recently executed computerized fabricating framework to boost our yield, enhance our creation interaction and further improve our operational solidness and item quality.”
About Gaojing Solar Energy Technology
Daqo New Energy Corp Technology is a high level sun based wafer maker helped to establish. A group of senior specialists with broad involvement with the sun oriented industry. IDG Capital, a main venture firm, and Zhuhai’s driving state-claimed endeavor Huafa Group.
Gaojing Solar plans on contending as a pioneer in the market of cutting edge enormous size. Phase III will bring the last 20GW of the arrangement online before the finish of 2023.
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) (“Daqo” or the “Organization”) is a main producer of high-virtue polysilicon for the worldwide sunlight based PV industry. Established in 2007, the Company is one of the world’s least expense makers of high-immaculateness polysilicon. Daqo’s exceptionally productive and in fact progressed fabricating office in China presently. A yearly polysilicon nameplate limit of 70,000 metric tons.
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