Polysilicon producer Daqo New Energy has received approval from the Shanghai Stock Exchange for a private offering on China’s A-share market to support its capacity expansion.
Both GCL Technology and Daqo New Energy have leapfrogged Wacker Chemie in Bernreuter Research’s annual polysilicon top ten rankings, completing a China-based top three.
Daqo New Energy recorded a guidance-beating performance in the opening quarter of 2022, cashing in on excess inventory, lower production costs and higher than anticipated average selling prices (ASPs).
Solar wafer prices have continued rise this week, with the latest pricing indications in China contributing towards a price increases of between 10.8 – 14.4% since the start of the year.
Daqo New Energy recorded a dent to its quarterly revenues and margin in Q4 2021 after production costs spiralled and sales fell against a slide in demand.
Polysilicon producer Daqo New Energy’s has signed a long-term supply agreement for high-purity mono-grade polysilicon for a total amount of 30,000MT between 2022 and end of 2026, essentially selling out its inventory for this year.
Polysilicon producer Daqo New Energy is expecting a five-fold increase in net profit from its Xinjiang subsidiary as it continues to progress expansion plans.
Daqo New Energy has provided a RMB10 billion (US$1.6 billion) capital injection to a subsidiary which is to advance on future polysilicon production projects in Inner Mongolia.
