Daqo New Energy Corp’s subsidiary Xinjiang Daqo New Energy anticipates a net profit between RMB 5.7 and 5.8 billion for fiscal year 2023, which is a year-over-year decrease of 69.7-70.2% compared to FY2022. Daqo New Energy holds a 72.4% stake in Xinjiang Daqo, emphasizing its reliance on the subsidiary’s revenue and net income. The estimated net profit is provisional and may change post Xinjiang Daqo’s internal financial processes, presented in RMB under PRC GAAP.
Xinjiang Daqo releases forecast for FY2023 results
Xinjiang Daqo forecasts an estimated net profit for FY2023, projecting a 69.7% to 70.2% YoY decrease compared to FY2022, impacting Daqo New Energy’s financials. (Image Credit: Daqo).
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