daqo new energy

Chinese manufacturers account for nine of the world’s top ten polysilicon producers, led by Tongwei, GCL Technology and Daqo New Energy.

Chinese polysilicon producer Daqo New Energy saw an increase in sales and profits in Q3 2025, as the sector looks to address ongoing oversupply and financial losses.

Daqo New Energy has posted gross losses of US$81.4 million in Q2 2025, up from losses of US$81.5 million in Q1.

Daqo New Energy has posted gross losses of US$81.5 million, and a gross margin of -65.8% in the first quarter of 2025.

Daqo New Energy posted losses of US$65.3 million in the fourth quarter of 2024, and end-of-year losses of US$212.9 million.

Preliminary financial results from three Chinese manufacturers show a downward trend across the solar manufacturing industry over 2024.

Tongwei Solar and Daqo New Energy have announced that, to minimise price competition, they will reduce and control polysilicon production.

The results continue the downward trend in polysilicon manufacturers’ fortunes as the market faces oversupply, cutthroat competition and prices below the cost of production.

According to Bernreuter Research, Tongwei Solar, GCL Technology, Daqo New Energy, and Xinte Energy all posted net losses in H1 2024.

Daqo New Energy's polysilicon average selling price dropped from US$7.66/kg in Q1 2024 to US$5.12/kg in Q2 2024, while its average production cost sat at US$6.19/kg.