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Market Incident

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AI compiled from Infoway · 6 analyzed stories

Xinjiang Daqo New Energy: Q3 sales rebounded, but price pressure and impairment drove a steep 9M loss

Daqo New Energy's third-quarter sales volume rose sharply from the prior quarter and its net loss narrowed, but lower polysilicon prices and a nine-month inventory impairment drove a loss of RMB2.006 billion so far this year.

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What happened

Daqo New Energy reported unaudited third-quarter 2026 results. Revenue rose to $194.2 million from $62.7 million in the prior quarter. Polysilicon sales were 46,910 metric tons. The net loss narrowed to $52.9 million from $81.2 million, though it remained wider than a year earlier.

Global impact / market context

The company sold much more polysilicon after normal sales resumed in June. Selling prices recovered somewhat, costs fell, and inventory write-downs eased. Still, the company lost money because market conditions stayed difficult. Weak demand and high inventories remain problems.

What to watch

  1. Whether polysilicon demand stays weak and inventories stay high, since these are named as remaining challenges that could keep pressuring results.
  2. Whether selling prices keep recovering and costs keep falling, since those factors helped narrow the loss this quarter.
  3. Whether the company meets its full-year 2026 production guidance of 175,000 to 185,000 metric tons, since that is the stated output target.

Affected assets

  • Daqo New Energy Corp.
  • Polysilicon

Evidence