Digital New Energy DataBM. Com learned that on March 4, Daquan Energy released a record of investor relations activities in February 2026.
In this exchange, Daqo Energy said that the company's operating performance has improved significantly. In 2025, the company realized revenue of 4.83 billion yuan , net profit loss of 1.13 billion yuan , the loss margin narrowed significantly year on year , and profitability showed a trend of continuous repair.
Meanwhile, Daqo Energy said that during the reporting period, the company's polysilicon production was 123000 tons , sales were 127000 tons , and the production and sales rate reached 103%. In terms of
cost, Daqo Energy said that the unit cash cost of polysilicon dropped to 33.95 yuan/kg and the unit cost dropped to 43.46 yuan/kg in the fourth quarter.
In addition, Daquan Energy mentioned in the exchange that the company has no plans to acquire or acquire other polysilicon production capacity .
Photo: The original text of the official website
of Daqo Group is as follows:
I. Please introduce the performance of the Company in 2025?
Answer: In 2025, with the continuous deepening of industry policy guidance, the domestic polysilicon price has shown a recovery rise since the third quarter, but the polysilicon industry as a whole is still facing the realistic challenges of high inventory and weak demand. During the reporting period, the company continued to promote fine management and technological innovation, effectively achieved the reduction of production costs and the improvement of operational efficiency, which provided an important support for improving profitability. In terms of
operation, the company's operating performance has improved significantly. In 2025, the company realized operating income of 4.83 billion yuan, net profit attributable to the parent company of-1.13 billion yuan, the loss margin narrowed significantly year on year, and the profitability showed a trend of continuous repair. During the reporting period, the company's polysilicon output was 123,000 tons, sales volume was 127,000 tons, production and sales rate reached 103%, and inventory remained at a reasonable level, asset operation efficiency continued to optimize. In terms of
cost, the company has achieved outstanding results in reducing costs and increasing efficiency. In the fourth quarter, the unit cash cost of polysilicon dropped to 33.95 yuan/kg, and the unit cost dropped to 43.46 yuan/kg. Both indicators decreased year-on-year and quarter-on-quarter, and the cost competitiveness was further enhanced.
Financially, the company's financial structure remained stable. The asset-liability ratio is at a low level in the industry, and the capital reserve in hand is sufficient, which provides strong financial support for coping with the industry cycle and grasping future market opportunities.
2. Will the company consider acquiring or acquiring other polysilicon production capacity?
Answer: The Company will continue to pay attention to the development trend of the industry and market dynamics. In the future, if there is a high-quality target that is in line with the development direction of the main business and has strategic synergy value, the Company will carefully study the relevant merger and acquisition opportunities on the basis of full research and judgment. Up to now, the company has no plans to acquire or acquire other polysilicon production capacity.
3. How does the company look forward to the demand for photovoltaic installation and the price trend of products in 2026? How does the company respond to future market changes?
Answer: According to the forecast of China Photovoltaic Industry Association , the new installed capacity of global photovoltaic industry in 2026 is expected to be 500-667 GW. Among them, the newly installed capacity in the Chinese market is expected to be 180-240 GW, corresponding to the general and optimistic scenarios respectively. The global photovoltaic demand still maintains a relatively high scale, and China's photovoltaic market is moving from a high-speed growth stage to a high-quality development stage. The price trend of
polysilicon is affected by the supply and demand pattern of the industry, the inventory situation of upstream and downstream, the demand for terminal photovoltaic installation, the progress of capacity clearance, the fluctuation of raw material cost and the adjustment of photovoltaic industry policy. The Company will continue to reduce costs and increase efficiency based on the judgment of the market conditions to consolidate its core competitive advantages. The Company will maintain a prudent financial strategy, maintain abundant cash and low asset-liability ratio, flexibly adjust production and sales strategies, and improve operational efficiency to actively respond to market changes.
4. Recently, the market has paid more attention to space photovoltaic. Does the company have any related business at present?
Answer: The company's main business focuses on the research and development, production and sales of high-purity polysilicon products. At present, the core matching is mainly based on the demand for large-scale installation of ground photovoltaic, while the requirements for the use of materials in space photovoltaic are different from those in ground photovoltaic scenarios due to the particularity of its application scenarios. However, as an important direction for photovoltaic industry to break through scenario restrictions and reconstruct the logic of energy application, the long-term development value and industrial potential of space photovoltaic industry are worth looking forward to.
The Company will continue to pay attention to the technological breakthrough, material demand iteration and commercial landing rhythm in the field of space photovoltaic. In the future, if the technical path of the track is clear, or there is an entry point for the application of the Company's products, the Company will carefully evaluate and actively explore the layout opportunities based on its own strategic development rhythm.
5. What is the progress of the company's repurchase?
Answer: As of January 31, 2026, the Company repurchased 1,135,717 shares of the Company through centralized competitive trading through the trading system of Shanghai Stock Exchange, and the total amount of capital paid was RMB 28,994,925.98. The Company will strictly comply with the relevant provisions of the Rules on Share Repurchase by Listed Companies and the Guidelines for Self-regulation of Listed Companies of the Shanghai Stock Exchange No.7 – Share Repurchase, make repurchase decisions and implement them according to market conditions during the repurchase period, and fulfill its information disclosure obligations in a timely manner according to the progress of share repurchase.
浙公网安备33010802003254号