Daqo New Energy (DQ) has released an update.
Daqo New Energy Corp., a key player in the solar PV industry, reported its Q1 2024 financial results, revealing a production increase and cost reduction in polysilicon manufacturing. Despite a drop in revenue and net income compared to Q4 2023, the company maintained a strong cash balance and anticipates a significant production boost with a new facility coming online by the end of Q3 2024. The market faced challenges with falling polysilicon prices and inventory pressures, signaling potential industry-wide losses.
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