A subsidiary of polysilicon producer Daqo New Vitality is forecasting web revenue in the course of the first half of 2022 to be greater than 4 instances increased than the identical interval final yr.
Xinjiang Daqo New Vitality estimates that its web revenue attributable to shareholders in H1 2022 will probably be within the vary of RMB9.4 – 9.6 billion (US$1.4 – 1.43 billion), representing a rise of as much as 344% on the RMB2.16 billion web revenue it recorded in H1 2021.
Polysilicon costs have grown by round 14% because the starting of Might. Final week’s common polysilicon strike value jumped 4% sequentially to RMB287/kg (US$42.81/kg, inclusive of China’s 13% gross sales tax), in line with information supplied by trade analysts PVInfoLink and Vitality Pattern.
Xinjiang Daqo in the meantime introduced final week it accomplished a non-public providing on the Shanghai Inventory Trade that generated gross proceeds of RMB11 billion (US$1.64 billion). The corporate beforehand mentioned it might use proceeds to help a polysilicon enlargement venture in China’s Inside Mongolia area.
Daqo New Vitality’s gross revenue reached US$813.6 million throughout Q1 2022 as its polysilicon gross sales volumes jumped greater than threefold on the prior quarter and it benefited from a fall in manufacturing prices.
