Daqo New Energy Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	551.56	1,007	3,039	3,499	723.78	76.6
Short-Term Investments	1,466	1,097	-	13.93	280.25	-
Cash & Short-Term Investments	2,017	2,103	3,039	3,513	1,004	76.6
Cash Growth	-12.80%	-30.78%	-13.51%	249.93%	1210.81%	47.75%
Accounts Receivable	156.99	55.15	116.36	1,132	365.91	0.15
Other Receivables	-	-	0.03	0.02	-	0.13
Receivables	156.99	55.15	116.39	1,132	365.91	0.28
Inventory	121.44	149.94	173.27	169.52	327.77	49.24
Prepaid Expenses	-	280.88	224.65	52.93	41.68	-
Restricted Cash	-	31.81	9.13	20.86	0.19	41.81
Other Current Assets	317.99	10.4	14.31	0.85	3.4	12.35
Total Current Assets	2,614	2,632	3,577	4,889	1,743	180.27
Property, Plant & Equipment	3,410	3,499	3,626	2,605	1,559	1,027
Long-Term Investments	33.94	27.64	27.58	-	-	-
Other Intangible Assets	154.16	152.87	150.36	80.33	40.74	30.83
Long-Term Deferred Tax Assets	-	84.6	3.42	1.81	-	-
Other Long-Term Assets	130.44	22.39	42.5	17.6	0.82	0.96
Total Assets	6,342	6,418	7,427	7,594	3,344	1,239
Accounts Payable	83.26	33.27	95.72	103.18	81.7	68.31
Accrued Expenses	-	33.31	73.08	51.5	40.85	25.7
Short-Term Debt	-	-	-	-	-	15.32
Current Portion of Long-Term Debt	-	-	-	-	-	55.11
Current Portion of Leases	-	-	-	-	-	0.08
Current Income Taxes Payable	-	0.51	89.8	221.63	71.47	22.68
Current Unearned Revenue	24.22	37.19	148.98	121.99	202.96	37.78
Other Current Liabilities	354.87	416.95	428.84	238.24	153.52	59.15
Total Current Liabilities	462.35	521.24	836.43	736.54	550.5	284.14
Long-Term Debt	-	-	-	-	-	123.22
Long-Term Unearned Revenue	16.92	38.6	132	172.41	112.6	25.17
Long-Term Deferred Tax Liabilities	-	0.54	10.15	80.54	16.73	3.46
Other Long-Term Liabilities	18.08	-	-	-	-	4.24
Total Liabilities	497.35	560.38	978.58	989.49	679.82	440.23
Common Stock	4,354	0.04	0.04	0.04	0.04	0.04
Additional Paid-In Capital	-	2,409	2,340	2,211	1,017	412.45
Retained Earnings	-	2,983	3,328	2,899	1,079	330.12
Treasury Stock	-	-617.61	-612.61	-126.68	-1.75	-1.75
Comprehensive Income & Other	-	-413.21	-294	-176.03	67.77	26.27
Total Common Equity	4,354	4,361	4,762	4,807	2,162	767.12
Minority Interest	1,491	1,497	1,686	1,797	501.87	31.79
Shareholders' Equity	5,845	5,858	6,448	6,605	2,664	798.92
Total Liabilities & Equity	6,342	6,418	7,427	7,594	3,344	1,239
Total Debt	-	-	-	-	-	193.74
Net Cash (Debt)	2,017	2,103	3,039	3,513	1,004	-117.14
Net Cash Growth	-12.80%	-30.78%	-13.51%	249.93%	-	-
Net Cash Per Share	30.07	31.79	40.54	45.46	13.08	-1.56
Filing Date Shares Outstanding	67.55	67.06	66.01	77.27	74.51	73.51
Total Common Shares Outstanding	67.55	66.75	65.7	78.2	74.51	73.05
Working Capital	2,151	2,110	2,740	4,153	1,192	-103.86
Book Value Per Share	64.46	65.33	72.48	61.47	29.02	10.50
Tangible Book Value	4,200	4,208	4,612	4,727	2,121	736.29
Tangible Book Value Per Share	62.18	63.04	70.19	60.44	28.47	10.08
Buildings	-	1,221	906.29	555.71	468.31	444.83
Machinery	-	3,102	2,148	1,177	970.8	937.11
Construction In Progress	-	50.09	1,108	1,278	586.56	26.83

Source: S&P Global Market Intelligence. Standard template. Financial Sources.