Daqo New Energy Subsidiary Provides Preliminary Estimates For FY20

(RTTNews) - Daqo New Energy Corp. (DQ) said its subsidiary Xinjiang Daqo New Energy estimates that net profit attributable to shareholders to be in the range of RMB 0.95 billion - RMB 1.05 billion and revenue of RMB 4.5 - RMB 4.7 billion for fiscal year 2020.

Daqo New Energy currently beneficially owns 95.6% of Xinjiang Daqo and a majority of the Company's revenue and net income are contributed by Xinjiang Daqo.

Daqo New Energy now expects the production volume to be in the range of 20,500~21,000 MT for the fourth-quarter and 76,700~77,200 MT for fiscal year 2020.

Sales volume for the fourth-quarter 2020 and the full year of 2020 are expected to be in the range of 23,000~23,200 MT and 74,700~74,900 MT, respectively.