On May 29, Daqo Energy held a performance presentation for 2024 and the first quarter of 2025. Xu Xiang , vice chairman of the company, said at the meeting: At present, the crystalline silicon industry chain is still in the stage of deep adjustment. Many enterprises, including the company, have withstood cyclical shocks through production control, technological upgrading and financial optimization.
Xu Xiang believes that at present, the supply and demand pattern of silicon materials has not been significantly improved , superimposed on the high level of industry inventory and stock capacity , the price of silicon materials has limited momentum to rise in a short period of time.
Xu Xiang also said that in view of the existing problems and challenges in the photovoltaic industry , the competent authorities, industry associations and industrial enterprises have put forward a variety of exploration programs, reflecting the strong will of the relevant parties for the healthy development of the industry. No matter what kind of timetable and roadmap the exploration plan landed smoothly, for the photovoltaic industry itself, it has been on the road to improvement.
In terms of polysilicon production, Daqo Energy disclosed that the unit cash cost of polysilicon production in the first quarter of 2025 was 36.82 yuan/kg , and the unit cost was 53.08 yuan/kg. By the end of 2024, the company's N-type materials accounted for 70% .
The company expects to produce 25000 tons to 28000 tons in the second quarter and 110000 tons to 140000 tons in 2025. In terms of
finance, Xu Xiang said that through sound financial management and flexible production and operation mode, the company has built a strong financial security line and enhanced its ability to resist risks at the bottom of the industry cycle. As of the first quarter of 2025, the total capital reserve was about 12.9 billion yuan , and the asset-liability ratio was as low as 8.3%.
In terms of overseas market development, Xu Xiang said that the company pays great attention to the overseas silicon market and will comprehensively evaluate the possibility of overseas investment in the light of the political and economic environment of the destination country, the development plan of the new energy industry, the supporting level of the industry and the human market. At present, there is no clear plan for overseas expansion.
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