从经营层面看，大全新能源当季多晶硅产量提升至42,181吨，较第三季度显著增长；但销量回落至 38,167吨，低于前一季度的42,406吨，显示下游需求与去库存节奏仍存波动。成本端则持续改善，平均 总生产成本降至5.83美元/公斤，现金成本降至4.46美元/公斤，有助于缓冲价格波动带来的压力。同期 多晶硅ASP为5.83美元/公斤，环比小幅上行。 展望方面，公司预计2026年一季度产量为3.5万至4万吨，全年产量为14万至17万吨。尽管成本下行与产 量爬坡被视为积极信号，但在行业供需博弈与价格修复节奏尚不明朗的背景下，投资者对短期盈利改善 的信心仍偏谨慎，拖累股价走弱。 智通财经APP获悉，周四，大全新能源(DQ.US)股价跌超6%，报23.5美元。该公司最新公布的财报显 示，公司2025年第四季度非GAAP每股存托凭证收益为-0.11美元，较市场预期高出0.14美元；营收为 2.217亿美元，同比增长13.5%，但明显低于市场预期，成为股价承压的主要因素之一。 ...

从经营层面看，大全新能源当季多晶硅产量提升至42,181吨，较第三季度显著增长；但销量回落至 38,167吨，低于前一季度的42,406吨，显示下游需求与去库存节奏仍存波动。成本端则持续改善，平均 总生产成本降至5.83美元/公斤，现金成本降至4.46美元/公斤，有助于缓冲价格波动带来的压力。同期 多晶硅ASP为5.83美元/公斤，环比小幅上行。 展望方面，公司预计2026年一季度产量为3.5万至4万吨，全年产量为14万至17万吨。尽管成本下行与产 量爬坡被视为积极信号，但在行业供需博弈与价格修复节奏尚不明朗的背景下，投资者对短期盈利改善 的信心仍偏谨慎，拖累股价走弱。 周四，大全新能源(DQ.US)股价跌超6%，报23.5美元。该公司最新公布的财报显示，公司2025年第四季 度非GAAP每股存托凭证收益为-0.11美元，较市场预期高出0.14美元；营收为2.217亿美元，同比增长 13.5%，但明显低于市场预期，成为股价承压的主要因素之一。 ...

Daqo New Energy (NYSE:DQ) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Company ParticipantsAlan Han - Equity ResearchAnita Xu - Deputy CEOGordon Johnson - CEO and FounderJesse Zhao - Director of Investor RelationsMing Yang - CFOConference Call ParticipantsEmmett Lau - AnalystPhilip Shen - Managing Director and Senior Research AnalystNone - AnalystModeratorGood day, welcome to the Daqo New Energy New fourth quarter 2025 results conference call. All participants will be in a listen-only mode. Should yo ...

Daqo New Energy (NYSE:DQ) Q4 2025 Earnings call February 26, 2026 08:00 AM ET Company ParticipantsAnita Xu - Deputy CEOGordon Johnson - CEO and FounderJesse Zhao - Director of Investor RelationsMing Yang - CFOConference Call ParticipantsAlan Han - Investment Banking AnalystEmmett Lau - AnalystMan Win - AnalystPhilip Shen - Managing Director and Senior Research AnalystOperatorGood day, welcome to the Daqo New Energy New Fourth Quarter 2025 Results Conference Call. All participants will be in a listen-only mo ...

Financial Data and Key Metrics Changes - In Q4 2025, revenues were $221.7 million, a decrease from $244.6 million in Q3 2025 and an increase from $195.4 million in Q4 2024 [17] - Gross profit was $15.4 million, compared to $9.7 million in Q3 2025 and a gross loss of $65.3 million in Q4 2024 [17] - EBITDA for 2025 was $1.7 million, a significant improvement from a negative $337 million in 2024 [26] - Net loss attributable to shareholders narrowed to $170.5 million in 2025 from $345 million in 2024 [25] - Cash balance at the end of 2025 was $980 million, an increase from $551.6 million at the end of Q3 2025 [26] Business Line Data and Key Metrics Changes - Polysilicon production for Q4 2025 was 42,181 metric tons, aligning with guidance [10] - Sales volume for Q4 2025 reached 38,167 metric tons, with total sales volume for 2025 at 126,707 metric tons [6][10] - Average selling prices (ASPs) for polysilicon decreased by 7.2% from $5.66 per kilogram in 2024 to $5.25 per kilogram in 2025 [6] Market Data and Key Metrics Changes - China's newly installed solar PV capacity grew 14% year-over-year to 317 gigawatts in 2025 [14] - The overall polysilicon production volume fell by 28.4% to 1.32 million metric tons in 2025, while market prices surged more than 50% from mid-2025 lows [13] Company Strategy and Development Direction - The company aims to strengthen its competitive edge through advancements in high-efficiency N-type technology and cost optimization via digital transformation and AI adoption [14] - The focus is on transitioning from price-based competition to value-driven differentiation, supported by government initiatives to tackle overcapacity [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the sector's long-term growth prospects, citing the company's position as one of the world's lowest-cost producers of high-quality N-type polysilicon [14] - The company anticipates a gradual recovery in the market, with expectations for production volumes in 2026 to be between 140,000 metric tons and 170,000 metric tons [11] Other Important Information - The company has implemented proactive measures to mitigate market oversupply, operating at a nameplate capacity utilization rate of 55% [9] - Total production costs declined by 9% to $5.83 per kilogram in Q4 2025, with cash costs reaching a record low of $4.46 per kilogram [10][11] Q&A Session Summary Question: Potential buyback strategy - Management is monitoring share repurchase as part of capital allocation strategy but is waiting for clarity on policy implementation before proceeding [31] Question: Industry consolidation outlook - Management sees recent acquisitions by peers as strategic decisions reflecting confidence in the sector and is open to opportunities that create value [34] Question: Key milestones for policy implementation - Management indicated that clarity on policy details is still pending, and further developments will be monitored closely [42] Question: Pricing outlook for Q1 and Q2 - Management expects prices to remain around RMB 53-54 per kilogram, as mandated by the Pricing Law [47][85] Question: Free cash flow expectations - Management anticipates further improvement in free cash flow in 2026, building on positive trends from 2025 [87]

February 26 2026 Q4 2025 Results Presentation Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "guidance" and similar statements. Among other things, the outlook for the first quarter and the full y ...

Core Viewpoint - Daqo New Energy Corp. reported its financial results for Q4 2025, showing a mixed performance with improvements in production costs and gross profit, but continued net losses. Financial Highlights - Total cash and investments at the end of Q4 2025 was $2.27 billion, up from $2.21 billion at the end of Q3 2025 [1] - Polysilicon production volume increased to 42,181 MT in Q4 2025 from 30,650 MT in Q3 2025 [1] - Polysilicon sales volume decreased to 38,167 MT in Q4 2025 from 42,406 MT in Q3 2025 [1] - Average total production cost for polysilicon was $5.83/kg in Q4 2025, down from $6.38/kg in Q3 2025 [1] - Average cash cost for polysilicon was $4.46/kg in Q4 2025, slightly down from $4.54/kg in Q3 2025 [1] - Average selling price (ASP) for polysilicon was $5.83/kg in Q4 2025, compared to $5.80/kg in Q3 2025 [1] - Revenue for Q4 2025 was $221.7 million, down from $244.6 million in Q3 2025 [1] - Gross profit increased to $15.4 million in Q4 2025 from $9.7 million in Q3 2025, with a gross margin of 7.0% compared to 3.9% in Q3 2025 [1] - Net loss attributable to shareholders was $7.3 million in Q4 2025, improved from $14.9 million in Q3 2025; loss per basic ADS was $0.11 compared to $0.22 in Q3 2025 [1] - Adjusted net loss attributable to shareholders was $7.3 million in Q4 2025, compared to adjusted net income of $3.7 million in Q3 2025 [1] - EBITDA for Q4 2025 was $52.5 million, up from $45.8 million in Q3 2025, with an EBITDA margin of 23.7% compared to 18.7% in Q3 2025 [1]

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每经AI快讯，纳斯达克中国金龙指数收涨1.36%，嘉楠科技涨15.90%，Tims中国涨8.57%，世纪互联涨 6.68%，小鹏汽车涨6.69%，大全新能源涨6.64%。 ...

Core Viewpoint - Daqo New Energy Corp. plans to announce its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2025, on February 26, 2026, before U.S. markets open [1] Company Overview - Daqo New Energy Corp. is a leading manufacturer of high-purity polysilicon for the global solar PV industry, founded in 2007 [1] - The company has a total polysilicon nameplate capacity of 305,000 metric tons and is recognized as one of the world's lowest cost producers of high-purity polysilicon [1] Financial Results Announcement - The financial results will be discussed in a conference call scheduled for 8:00 AM U.S. Eastern Time on February 26, 2026 [1] - Dial-in details for the earnings conference call include a U.S. toll-free number (+1-888-346-8982) and an international dial-in number (+1-412-902-4272) [1] - A replay of the call will be available one hour after the conclusion of the conference call through March 5, 2026 [1]