Daqo New Energy Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	665.42	1,029	2,308	4,608	1,679
Revenue Growth (YoY)	-35.34%	-55.41%	-49.92%	174.50%	148.49%
Cost of Revenue	803.27	1,242	1,387	1,200	581.59
Gross Profit	-137.85	-212.93	920.65	3,408	1,097
Selling, General & Admin	118.22	143.09	213.24	354.07	39.9
Research & Development	2.58	4.56	10.12	10.04	6.5
Other Operating Expenses	-7.72	-9.1	-90.52	-5.72	-0.61
Operating Expenses	132.38	156.62	132.84	358.39	45.79
Operating Income	-270.24	-369.55	787.81	3,050	1,051
Interest Expense	-	-	-	-	-20.48
Interest & Investment Income	33.09	48.41	52.41	15.58	4.01
Currency Exchange Gain (Loss)	0.03	-2.38	-17.37	0.68	-
EBT Excluding Unusual Items	-237.12	-323.52	822.85	3,066	1,035
Gain (Loss) on Sale of Assets	-	-18.91	-4.38	-8.9	-
Asset Writedown	-	-175.63	-	-	-
Pretax Income	-237.12	-518.06	818.47	3,057	1,035
Income Tax Expense	-21.03	-69.91	165.59	577.25	170.1
Earnings From Continuing Operations	-216.08	-448.15	652.89	2,480	864.85
Net Income to Company	-216.08	-448.15	652.89	2,480	864.85
Minority Interest in Earnings	45.57	102.94	-223.34	-659.84	-115.92
Net Income	-170.51	-345.22	429.55	1,820	748.92
Net Income to Common	-170.51	-345.22	429.55	1,820	748.92
Net Income Growth	-	-	-76.40%	142.99%	479.69%
Shares Outstanding (Basic)	67	66	75	76	74
Shares Outstanding (Diluted)	67	66	75	77	77
Shares Change (YoY)	1.80%	-11.74%	-3.01%	0.70%	2.33%
EPS (Basic)	-2.53	-5.22	5.75	23.98	10.14
EPS (Diluted)	-2.53	-5.22	5.73	23.34	9.75
EPS Growth	-	-	-75.47%	139.43%	474.16%
Free Cash Flow	-123.35	-794.25	505.3	1,257	140.48
Free Cash Flow Per Share	-1.83	-12.01	6.74	16.27	1.83
Gross Margin	-20.72%	-20.69%	39.90%	73.95%	65.36%
Operating Margin	-40.61%	-35.91%	34.14%	66.17%	62.63%
Profit Margin	-25.62%	-33.55%	18.61%	39.49%	44.61%
Free Cash Flow Margin	-18.54%	-77.18%	21.90%	27.28%	8.37%
EBITDA	-22.37	-163.19	936.7	3,157	1,129
EBITDA Margin	-3.36%	-15.86%	40.59%	68.50%	67.24%
D&A For EBITDA	247.87	206.36	148.89	107.1	77.37
EBIT	-270.24	-369.55	787.81	3,050	1,051
EBIT Margin	-40.61%	-35.91%	34.14%	66.17%	62.63%
Effective Tax Rate	-	-	20.23%	18.88%	16.44%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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