Daqo reports 2010 polysilicon shipments at 3,650MT: revenue US$242.7 million

Facebook
Twitter
LinkedIn
Reddit
Email

China-based polysilicon producer, Daqo New Energy, has reported its first financial year results as a public company, listed on the NYSE. Polysilicon shipments for 2010 were 3,650MT and module shipments were 3.5MW, after starting volume production in the fourth quarter. Revenues in the fourth quarter of 2010 were $81.9 million – an increase of 29.6% from the third quarter of 2010. The increase was mainly due to higher average selling prices for the polysilicon.

Daqo sold approximately 966MT of polysilicon in the fourth quarter, which contributed revenues of US$73.4 million, compared to revenues of US$55.2 million for 973 MT of polysilicon sold in the third quarter of 2010.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The company also generated US$6.6 million and US$1.9 million for the sales of PV modules and wafers respectively in the quarter.

Total revenue for 2010 was reported at US$242.7 million, an increase of 118.3%, compared with revenue reported for 2009. Gross profit was US$106.2 million, an increase of 153.2% from 2009. Gross margin was 43.8% for 2010, compared to 37.7% for 2009 and operating income was US$92.5 million, compared to US$36.4 million for 2009.

As of December 31, 2010, Daqo had US$203.7 million in cash and cash equivalents and restricted cash, compared with US$75.2 million as of September 30, 2010.

“We executed our business plan well, which resulted in a record quarter, based on the key metrics of revenue, gross profit, gross margin, operating margin and net income. We also successfully completed the Phase 1 polysilicon debottlenecking project, which will enable us to increase our name plate capacity from 3,300 MT to 4,300 MT,” noted Dr. Gongda Yao, the chief executive officer, Daqo. “With the successful listing on the NYSE during the quarter, we now have a platform to grow the company into a leading global solar supply company. In 2011, we will focus on building our Phase 2 polysilicon production facility in Xinjiang, China. We will also commence our 250 MW solar wafer production, along with expanding our PV module capacity. In the beginning of 2011, we have continued to see strong demand from our customers for quality polysilicon, which should lay a strong foundation for a successful year for Daqo New Energy.”

Daqo said that it expects its total revenue to be in the range of US$81.5 million to US$83.5 million for the first quarter of 2011. The company expects to ship between 1075 MT to 1100 MT of polysilicon and generate revenues from the sales of polysilicon of between US$74 million to US$76 million.

PV module sales were guided to be approximately US$7.5 million with the sales of approximately 4MW under the company's own brand and sales of approximately 8MW of modules outsourcing for its customers.
 

Read Next

August 26, 2025
Jakson Engineers is investing over INR80 billion (US$912.5 million) to set up a 6GW integrated solar module, cell, and wafer plant.
August 26, 2025
India installed 14.3GW of new utility-scale solar capacity in the first half (H1) of 2025, marking a 49% increase year-on-year.
August 26, 2025
The Australian Government’s CER approved 56 new power stations, with 797MW of renewable energy capacity, in July this year.
August 26, 2025
US-based solar module manufacturer Bila Solar will include US-made steel module frames in its 550W dual-glass products.
August 26, 2025
Malaysian clean energy solutions company Gentari Renewables has partnered with Malaysian engineering and infrastructure giant Gamuda to build a solar-plus-storage portfolio in their home country.
Premium
August 26, 2025
Africa imported over 15GW of panels from China in the 12 months to June 2025, a 60% increase over the imports recorded in the prior year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines