Alan Hong's questions to Daqo New Energy Corp (DQ) leadership • Q4 2024
Question
Alan Hong asked for a breakdown of Q4 cash spending, the polysilicon pricing outlook for the first half of 2025, and management's perspective on potential government supply-side reforms.
Answer
CFO Ming Yang detailed that Q4 cash consumption was roughly $80 million for operations and $40 million for CapEx. He also noted that the government is discussing supply-side policies, but the final form is uncertain. Deputy CEO Anita Zhu projected a short-term poly price increase in Q2 2025 due to industry self-regulation and pre-policy front-loading, with N-type prices expected to be in the RMB 40-45/kg range.