Daqo New Energy Corp. (DQ)

June 22, 2023

After Updating Our Bottom-Up Daqo Model to Reflect the -66% YTD Drop in Poly-Si Prices, We Believe Consensus has Some “Explaining” to Do; Our 2023E Yr-End PT Drops to $19.66/shr

By Gordon L. Johnson II

Consensus Seems to Be Asleep at the Wheel w/ Respect to Daqo’s 2023E EPS Estimate. Despite the fact that mono poly-Si prices are down -76.7% YoY as of 6/21/23 (Ex. 1), the Consensus 2023E EPS…

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March 1, 2023

“Beware the Ides of March”, or in this Case Severe Deflation Set to Take Hold of Global Polysilicon Prices

By Gordon L. Johnson II

Daqo Just Reported 4Q22 Results that Missed Consensus by a “Nautical Mile” (as we warned 11/30/22). Yesterday, before the open, global polysilicon bellwether Daqo New Energy (“DQ”) reported 4Q22 rev/EBITDA/GAAP-EPS of $864M/$648M/$4.71, respectively, sharply missing…

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November 30, 2022

The Coming Tsunami of Poly-Si Supply is Not Priced into Consensus Ests.; ’23 EPS Revision Risk High

By Gordon L. Johnson II

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July 14, 2022

Daqo Better Enjoy this Poly-Si Price Rally While It Lasts, as We Model a 67% Drop in EBITDA by 2024

By Gordon L. Johnson II

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January 25, 2022

In The Words of Mike Tyson… “Everyone Has a Plan Until They Get Punched in the Mouth”; SELL

By Gordon L. Johnson II

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November 10, 2021

Better than Most in the Solar Space, but High Costs and a Coming Tsunami of Capacity Won’t Spare DQ

By Gordon L. Johnson II

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April 12, 2021

A Dire Outlook for Poly Prices (as Capacity Plans Outstrip Demand) Prompts Us to Initiate w- a SELL

By Gordon L. Johnson II

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