Daqo New Energy (ADR) (DQ)
Supplies high-purity polysilicon to manufacturers across the solar-PV supply chain.
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Manufactures and sells high-purity polysilicon to photovoltaic-product manufacturers. Its sole reportable segment is concentrated in China, where the material enters the solar-PV supply chain.
Manufactures and sells high-purity polysilicon, the material photovoltaic-product makers process into ingots, wafers, cells, and modules. It supplies manufacturers rather than end users, placing its role upstream in the solar-PV supply chain and before finished modules. Polysilicon is the group’s only reportable segment after its former module and wafer businesses were exited.
Production is concentrated in Xinjiang and Inner Mongolia, using a modified Siemens process with upgraded hydrochlorination and a closed-loop system. The NYSE-listed Cayman parent controls Xinjiang Daqo, a separately listed operating subsidiary. Results are shaped by solar-PV supply-demand conditions and polysilicon pricing.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 24, 2026 | New Street | Target | Target: $18.13 | Target: $10 |
| Aug 24, 2026 | Goldman Sachs | Downgrade | ||
| Jul 27, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $18.30 | Target: $11.20 |
| Apr 29, 2026 | Roth Capital | Target | Target: $30 | Target: $19 |
| Feb 3, 2026 | New Street | Target | Target: $15.40 | Target: $18.13 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.79B · Total debt $0 · Total assets $6.34B · Shareholders' equity $4.37B
- Revenue
- $62.8M
- Operating income
- −$100.3M
- Net income
- −$81.3M
No dividends on record.
| Institutions | 46.28% | 31.32M ADS | |
|---|---|---|---|
| 133 holders · as of Jun 30, 2026 | |||
| Insiders | 109.25% | 73.92M ADS | |
| 12 holders · as of Mar 13, 2026 | |||
| Strategic holders | 7.37% | 4.99M ADS | |
| 1 holder · as of Feb 4, 2022 | |||
| Adds to | 162.90% | ||
67.67M ADS (1 ADS = 5 ordinary shares) as of Aug 29, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
These groups come from separate filings that can overlap, so they add to 162.90%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Guangfu XuInsiderdirector | 45.81% | 39.00M ordinary · 23.20M ADS | filed Mar 13, 2026 |
Mr. Guangfu XuInsider | 15.25% | 10.32M | filed Aug 19, 2022 |
Guangfu Xu (“Mr. Xu”)Insider | 12.00% | 8.12M | filed Feb 14, 2022 |
Xiang Xu1Insiderdirector, officer: Chief Executive Officer | 11.71% | 7.92M ADS | filed Mar 13, 2026 |
Xiang Xu (“Mr. Xu”)Insider | 10.17% | 6.88M | filed Feb 14, 2022 |
- Xiang Xu reports a block also reported by another filer; it is counted once, under that filer.
Insider tradesForm 4
Nothing filed in the last 12 months.
Not reported.