72.6 Billion Yuan! Daqo New Energy Signs Long-Term High-Purity Polysilicon Supply Agreement

PVTIME – Daqo New Energy Corp. (NYSE: DQ) announced on February 27 that its subsidiary Xinjiang Daqo New Energy had signed a long-term high-purity polysilicon supply agreement with a core PV manufacturing company in China.

In the duration of January 2022 to December 2036, Xinjiang Daqo New Energy will provide a total amount of 30,000MT high-purity mono-grade polysilicon to the company. It is estimated that the average monthly purchase is 500 MT (±10% allowed), and the actual volume and prices will be negotiated monthly by both parties according to market conditions.

Then the estimated total sales amount is approximately RMB 72.6 billion (tax included), according to the average price of high-purity mono-grade polysilicon 242 yuan/kg newly released by the Silicon Industry of China Nonferrous Metals Industry Association on the latest day, i.e. February 23, 2022.

It was announced on the same day that, after preliminary accounting, Daqo New Energy Corp. achieved operating income of 10,831,866,700 yuan during the reporting period, a year-on-year increase of 132.23%. The net profit attributable to shareholders of the listed company was 5,723,842,400 yuan, a year-on-year increase of 448.56%. After deducting non-recurring gains and losses attributable to the listed company, the net profit of shareholders was 5,706,702,900 yuan, a year-on-year increase of 447.79%. The basic earnings per share was 3.25 yuan, a year-on-year increase of 371.01%.