Daqo New Energy cuts Q2 sales volume guidance

|By:, SA News Editor

Daqo New Energy (NYSE:DQ) -1.8% premarket after estimating Q2 polysilicon sales to external customers will total 3,800-3,900 MT, sharply lower than previous guidance of 5,300-5,500 MT.

DQ also estimates Q2 wafer sales volume totaled 9.5M-10M pieces, also far below its prior outlook for 15M-20M pieces.

The company cites China's new solar PV policies issued on May 31, which are expected to reduce solar installation quotas and feed-in tariffs in China during H2 2018.

DQ produced 5,659 MT of polysilicon during Q2, in line with 5,600-5,800 MT guidance, and reiterates FY 2018 polysilicon production guidance of 22K-23K MT.

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