BEIJING (dpa-AFX) - Daqo New Energy Corp. (DQ), a Chinese maker of high-purity polysilicon for the solar PV industry, on Friday announced that its subsidiary, Xinjiang Daqo New Energy Co. Ltd. expects a net loss for the full year.
For the 12-month period to December 31, 2024, Xinjiang Daqo anticipates a net loss of RMB2.6 billion to RMB3.1 billion, compared with a net profit of RMB5.8 billion last year.
This estimate includes losses related to provisions for inventory impairment and fixed asset impairment.
Daqo New Energy currently owns around 72.4 percent of Xinjiang Daqo's equity, and the majority of the company's revenue and net income are contributed by Xinjiang Daqo.
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