Daqo New Energy has published its financial report for the second quarter of 2015. The company completed the annual maintenance of its Xinjiang polysilicon facilities in May, and it faced a decrease in the quarter. The financial decrease was mainly attributed to the decreases in production and sales volume, and the increase in production cost.
The average selling price (ASP) of Daqo’s polysilicon was declined from the first quarter’s $18.09/kg to $15.95/kg. The rapid drop could be explained by the dumping from overseas polysilicon manufacturers through the processing trade loophole.
Daqo’s phase 2B capacity expansion is running on schedule, and is expected to achieve full production capacity by the end of August. The production cost would be reduced to a level below $12.00/kg when the facility is fully ramped up.
The company aims to sell 2,100~2,200 MT of polysilicon in the third quarter of 2015.
Second Quarter 2015 Financial and Operating Highlights