Daqo New Energy Corp., a China-based manufacturer of high-purity polysilicon for the PV industry, has reported its FY2025 financial results. According to the report, revenue was $665.4 million, compared with $1,029.1 million in FY2024, reflecting lower polysilicon prices and reduced sales volumes. Gross loss was $137.9 million with gross margin negative 20.7%, compared with gross loss $212.9 million and margin negative 20.7% in FY2024. EBITDA was $1.7 million with EBITDA margin 0.3%, compared with negative $337.4 million and negative 32.8% in FY2024. Net loss attributable to shareholders was $170.5 million compared with $345.2 million during FY2024. Polysilicon production totaled 123,652 MT compared with 205,068 MT in FY2024, while sales volumes reached 126,707 MT compared with 181,362 MT. According to the report, the decline resulted from lower market prices and reduced shipments across the solar supply chain. The company expects polysilicon production of 140,000 MT to 170,000 MT during FY2026.

daqo