News: First quarter revenue plummets, Daqo New Energy's losses continue to widen
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Daqo New Energy Company reported that its revenue in the first quarter plummeted to USD 26.7 million, a year-on-year decrease of 78%. The sales volume of polysilicon dropped from 28,008 tons to 4,482 tons, with an average selling price of USD 5.96 per kilogram, close to the production cost. The company incurred a loss of USD 88.4 million, widening from a loss of USD 71.8 million in the same period last year. After the earnings release, the stock price fell nearly 12%, with a cumulative decline of about 35% this year
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