Powering Up: Daqo New Energy Reveals Impressive Third Quarter 2024 Results
Description:
SHANGHAI , Oct. 30, 2024 /PRNewswire/ — Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy,” the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the third quarter of 2024.
Third Quarter 2024 Financial and Operating Highlights
Polysilicon production volume was 43,592 MT in Q3 2024
Compared to 64,961 MT in Q2 2024
Polysilicon sales volume was 42,101 MT in Q3 2024
Compared to 43,082 MT in Q2 2024
Polysilicon average total production cost(1) was $6.61/kg in Q3 2024
Compared to $6.19/kg in Q2 2024
Polysilicon average cash cost(1) was $5.34/kg in Q3 2024
Compared to $5.39/kg in Q2 2024
Polysilicon average selling price (ASP) was $4.69/kg in Q3 2024
Compared to $5.12/kg in Q2 2024
Revenue was $198.5 million in Q3 2024
Compared to $219.9 million in Q2 2024
Gross loss was $60.6 million in Q3 2024
Compared to $159.2 million in Q2 2024
Impact on Individuals:
The impressive third quarter results of Daqo New Energy Corp will have a positive impact on individuals who are investors in the company or stakeholders in the solar PV industry. With an increase in polysilicon production and sales volumes, there is potential for growth and profitability for individuals involved with the company.
Impact on the World:
Daqo New Energy’s strong performance in the third quarter of 2024 reflects positively on the global solar PV industry. The increase in polysilicon production volume signifies a growing demand for clean energy solutions worldwide. This could lead to a more sustainable future for the world as a whole.
Conclusion:
Daqo New Energy’s impressive third quarter 2024 results demonstrate the company’s commitment to innovation and growth in the solar PV industry. The increase in production volumes and cost efficiency point towards a promising future for both the company and the global push towards renewable energy sources. This achievement not only benefits the company and its stakeholders but also contributes to a greener and more sustainable planet.
