Daqo New Energy Corp. has released its Q4 and full year 2023 results.

[caption id="attachment_4159" align="alignnone" width="234"]publive-image The company targets approximately 280,000MT to 300,000MT of polysilicon production in 2024, factoring in annual facility maintenance. (Image Credit: SOLARbytes).[/caption]

For Q4 2023, polysilicon production and sales increased by 5.9% and 6.0%, respectively, reaching 61,014 MT and 59,906 MT. Q4 revenues decreased slightly by 1.6% to USD 477.1 million compared to USD 484.8 million in Q3 2023. Gross profit improved by 28.4%, totaling $87.2 million, up from $67.8 million in Q3 2023.Its polysilicon production increased to 197,831 MT in 2023, from 133,812 MT in 2022. Polysilicon sales saw a growth of 50.5% from 2022, reaching 200,002 MT. Annual revenueswitnessed a decline of 49.9%, totaling $2,308.5 million in 2023, down from $4,608.4 million in 2022. Gross profit for the year amounted to $920.7 million, reflecting a 73.0% decrease from 2022.