Xinjiang Daqo New Energy (688303) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB1.326 billion and net loss attributable to shareholders was RMB410.9 million; the loss narrowed QoQ as sales volume rose and inventory write-downs fell.

• For 9M 2026, revenue fell 39.89% YoY to RMB1.949 billion and net loss reached RMB2.006 billion.

Financial highlights

• 9M operating loss was RMB2.008 billion, versus RMB1.174 billion a year earlier; total loss was RMB2.003 billion, versus RMB1.199 billion.

• 9M basic and diluted EPS were both -RMB0.94, compared with -RMB0.50 in 9M 2025.

• Q3 attributable net loss was RMB410.9 million; quarterly basic and diluted EPS were -RMB0.19, down 733.33% YoY.

Outlook and guidance

• Expected Q4 2026 polysilicon production: 35,000–45,000 tons; FY 2026 production guidance: 175,000–185,000 tons.