PVTIME – Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy”, the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the fourth quarter and fiscal year of 2021.
Fourth Quarter 2021 Financial and Operating Highlights
• Polysilicon production volume was 23,616 MT in Q4 2021, compared to 21,684 MT in Q3 2021
• Polysilicon sales volume was 11,642 MT in Q4 2021, compared to 21,183 MT in Q3 2021
• Polysilicon average total production cost(1) was $14.11/kg in Q4 2021, compared to $6.84/kg in Q3 2021
• Polysilicon average cash cost(1) was $13.32/kg in Q4 2021, compared to $5.96/kg in Q3 2021
• Polysilicon average selling price (ASP) was $33.91/kg in Q4 2021, compared to $27.55/kg in Q3 2021
• Revenue was $395.5 million in Q4 2021, compared to $585.8 million in Q3 2021
• Gross profit was $239.8 million in Q4 2021, compared to $435.2 million in Q3 2021. Gross margin was 60.6% in Q4 2021, compared to 74.3% in Q3 2021
• Net income attributable to Daqo New Energy Corp. shareholders was $148.6 million in Q4 2021, compared to $292.3 million in Q3 2021
• Earnings per basic American Depositary Share (ADS)(3) was $2.00 in Q4 2021, compared to $3.95 in Q3 2021
• EBITDA (non-GAAP)(2) was $251.1 million in Q4 2021, compared to $441.8 million in Q3 2021. EBITDA margin (non-GAAP)(2) was 63.5% in Q4 2021, compared to 75.4% in Q3 2021
• Adjusted net income (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders was $150.9 million in Q4 2021, compared to $294.7 million in Q3 2021
• Adjusted earnings per basic ADS(3) (non-GAAP)(2) was $2.03 in Q4 2021, compared to $3.98 in Q3 2021
