Daqo New Energy fails to comply with NYSE price criteria

August 21, 2012
Facebook
Twitter
LinkedIn
Reddit
Email

Daqo New Energy Corporation, a Chinese manufacturer of polysilicon, has received a notification from the New York Stock Exchange (NYSE) claiming that the company does not meet its price criteria.

As outlined in section 802.01C of the NYSE’s Listed Company Manual, the NYSE's price criteria requires all listed security trade to have a minimum average closing price of US$1.00 during any consecutive 30-trading day period. As of July 24, 2012, the average closing price of Daqo New Energy’s American Depositary Shares (ADS) was less than US$1.00 per ADS over a consecutive 30-trading day period.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Following receipt of this notification, the company has six months to regain compliance with the minimum share price requirement during the cure period. The company has already notified the NYSE that it intends to cure the price deficiency and re-comply with its requirements.

In order to regain compliance, the company’s ADS must have a closing share price of at least US$1.00 on the last trading day of any calendar month during the cure period as well as an average closing share price of at least US$1.00 over the 30-trading day period ending on the last trading day of that month or on the last day of the cure period.

Yesterday, Daqo New Energy posted its second quarter results for 2012, which its revenues tumble to US$30.6 million from US$34 million in the first quarter of 2012. The bulk of this came from sales of polysilicon which generated US$23.6 million. 

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK