Daqo New Energy reports Q2 2026 results, revenue rises sequentially

Daqo New Energy (NYSE: DQ ) reported second-quarter financial results on Thursday.

The transcript from the company's second-quarter earnings call has been provided below.

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View the webcast at Summary DQ New Energy reported sequential revenue growth in Q2 2026 driven by increased sales volume, despite weak market conditions and low demand.

The company maintained a strong balance sheet with zero debt and significant liquidity, totaling approximately $1.9 billion in readily convertible assets.

DQ adjusted its sales strategy in June, increasing sales volume significantly, although the average selling price fell to $4.04 per kilogram.

The company plans to diversify into AI data center power infrastructure as a strategic growth area, with investments in R&D and production facilities.

Polysilicon production exceeded guidance, but market prices remained below production costs, prompting DQ to support industry self-discipline and regulatory measures to stabilize prices.

Financial metrics showed improvement from the previous quarter, with a narrowed gross loss and improved EBITDA margin, although the company still posted a net loss.

Management expressed optimism about long-term growth in the solar PV sector and confidence in navigating current market challenges with strategic flexibility.

Full Transcript OPERATOR Welcome to the DQ New Energy Second Quarter 2026 Results Conference Call.

At this time, all participants are in listen-only mode.

Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.

After today's prepared remarks, there will be an opportunity to ask questions.

To ask a question, please press star then one on your telephone keypad.

To withdraw your question, please press star then two.

Please note this event is being recorded.

I would now like to turn the conference over to Jesse Zhao, Investor Relations Director.

Please go ahead.

Jesse Zhao, Investor Relations Director Hello everyone.

I'm Jesse Zhao, the Investor Relations Director of DQ.

Thank you for joining our conference call today.

DQ just issued its financial results for the second quarter of 2026, which can be found on our website at Today, attending the conference call, we have our Chairman and CEO, Mr.

Xiang Xu, our Deputy CEO, Ms.

Anita Xu, our CFO, Mr.

Ming Yang, and myself.

Today's call will begin with an update from Mr.

Xu on market conditions and company operations, followed by a translation from Ms.

Xu for Mr.

Xu, and then Mr.

Yang will discuss the company's financial performance for the quarter.

After that, we will open the floor to Q&A from the audience.

Before we begin the formal remarks, I would like to remind you that certain statements on today's call, including expected future operational and financial performance and industry growth, are forward-looking statements that are made under the safe harbor provisions of the U.S.

Private Securities Litigation Reform Act of 1995.

These statements involve inherent risks and uncertainties.