Daqo New Energy (NYSE:DQ) is a Chinese manufacturer of polysilicon, which is the key raw material used to produce ingots, wafers, cells and modules for solar photovoltaic (PV) power solutions. Daqo has two plants, one of which is located in Shihezi, Xinjiang with 6,150 metric tons (MT) capacity of polysilicon up to date, and the other one is at Wanzhou, Chongqing which has 125 megawatts (MW) wafer production capacity. This article will primarily discuss the polysilicon operations in Xinjiang. An overview of the market and cost comparison among key players is given first in the article, followed by discussion of Daqo's cost structure, cost reduction evolution and target, and the recent capacity expansion plan which will further lower...
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