PVTIME – On 27 February 2025, Daqo, a leading producer of high-purity polysilicon for the global solar PV industry, released its earnings forecast, revealing that the company achieved total operating revenue of 7.411 billion yuan in 2024, down 54.62% year-on-year. It lost 2.718 billion yuan, compared with a profit of 5.763 billion yuan in the same period last year. Daqo explained that it was under pressure in 2024 as its profits fell due to falling prices, leading to a sharp year-on-year decline in performance.
However, in the face of tough market challenges, Daqo established an efficient and flexible production adjustment mechanism. In 2024, the company’s polycrystalline silicon production reached 205,068 MT, with a sales volume of 181,362 MT. Product inventory remained at a reasonable level, and the proportion of n-type silicon material production increased to 70% from 40% in 2023.
Daqo said it would continue to implement its digital and intelligent manufacturing strategy, as well as cost reduction and efficiency improvement measures.
In December 2024, Daqo announced that it would start technical reform and overhaul work at its production bases in Inner Mongolia and Xinjiang, and reduce production capacity in an orderly and carefully controlled manner. It has an annual production capacity of 305,000 MT of polysilicon, Daqo said.
