BEIJING (dpa-AFX) - Daqo New Energy (DQ) posted a first-quarter net loss attributable to shareholders of $71.8 million, compared to net income of $15.5 million in the first quarter of 2024. Loss per basic ADS was $1.07, compared to profit per basic ADS of $0.24. Adjusted net loss attributable to shareholders, excluding non-cash share-based compensation costs, was $53.2 million, compared to adjusted net income of $36.0 million in the first quarter of 2024. Adjusted loss per basic ADS was $0.80, compared to adjusted earnings per basic ADS of $0.55.
Revenues were $123.9 million, compared to $415.3 million in the first quarter of 2024. Polysilicon production volume was 24,810 MT in first quarter.
Daqo New Energy expects to produce approximately 25,000 MT to 28,000 MT of polysilicon during the second quarter. The company expects to produce approximately 110,000 MT to 140,000 MT of polysilicon for the full year of 2025.
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