← DAQO NEW ENERGY CORP.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | $43.5m |
$92.8m
+113.46%
|
$38.1m
-58.94%
|
$29.5m
-22.56%
|
$129.2m
+337.59%
|
$748.9m
+479.68%
|
$1.8b
+142.99%
|
$429.5m
-76.40%
|
($345.2m)
-180.37%
|
($170.5m)
+50.61%
|
— | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $43.9m | $93.9m | $38.8m | $29.5m | $133.8m | $864.8m | $2.5b | $652.9m | ($448.2m) | ($216.1m) | — | |
| Net Income (Loss) Attributable to Noncontrolling Interest | $430k | $1.0m | $641k | ($568) | $4.6m | $115.9m | $659.8m | $223.3m | ($102.9m) | ($45.6m) | — | |
| Depreciation | $33.8m | $38.8m | $27.5m | $47.4m | $68.7m | $77.4m | $107.1m | $148.9m | $206.4m | $236.7m | $236.7m | |
| Amortization of prepaid land use rights | $557k | $573k | $544k | $582k | $693k | $821k | $1.2m | $2.4m | $3.3m | $3.4m | — | |
| Deferred Income Tax Expense (Benefit) | $466 | ($85k) | ($152k) | $4.7m | ($1.3m) | $13.2m | $76.5m | $7.9m | ($83.1m) | ($24.9m) | — | |
| Deferred taxes | — | ($85k) | ($152k) | $4.7m | ($1.8m) | $13.0m | $65.1m | ($70.1m) | ($92.0m) | ($24.9m) | — | |
| Share-based Payment Arrangement, Noncash Expense | $2.7m | $4.2m | $13.8m | $17.9m | $17.9m | $10.1m | $307.4m | $141.9m | $71.8m | $55.8m | $55.8m | |
| Share-based Payment Arrangement, Expense | $2.7m | $4.2m | $13.8m | $17.9m | $17.9m | $10.1m | $315.0m | $149.8m | $68.1m | $55.8m | $55.8m | |
| Share-based Payment Arrangement, Expensed and Capitalized, Amount | — | — | — | — | — | — | $315.0m | $149.8m | — | — | $55.8m | |
| Share-based compensation | $2.7m | $4.2m | $13.8m | $17.9m | $17.9m | $10.1m | $307.4m | $141.9m | $71.8m | $55.8m | $55.8m | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | — | — | $0 | — | — | — | — | — | — | |
| Long-lived assets impairment | $199k | $3.0m | — | — | — | — | $0 | $0 | $175.6m | $0 | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | ($14.9m) | ($2.1m) | $540k | ($1.2m) | ($13k) | — | — | — | — | — | ($76.2m) | |
| Increase (Decrease) in Inventories | $2.3m | $6.3m | $641k | $21.6m | $5.1m | $280.2m | ($138.3m) | $13.1m | $62.6m | $34.3m | ($34.3m) | |
| Inventory Write-down | — | $0 | $0 | $327k | $2.0m | $0 | $0 | $4.5m | $81.4m | $21.5m | — | |
| Inventories | ($2.3m) | ($6.3m) | ($641k) | ($21.6m) | ($5.1m) | ($280.2m) | $138.3m | ($13.1m) | ($62.6m) | ($34.3m) | ($34.3m) | |
| Increase (Decrease) in Accounts Payable | $2.4m | $2.3m | ($9.4m) | $3.7m | $4.6m | $61.1m | $7.0m | $13.4m | ($64.8m) | ($863k) | ($863k) | |
| Accrued expenses and other current liabilities | $261k | $7.0m | ($918k) | $2.9m | $16.1m | $9.7m | $14.2m | $24.9m | ($38.3m) | $4.3m | — | |
| Prepaid expenses and other current assets | $3.4m | $899k | ($4.7m) | ($5.2m) | $6.7m | ($31.6m) | ($14.9m) | ($136.2m) | ($81.5m) | ($29.1m) | — | |
| Other Operating Income (Expense), Net | — | — | — | — | — | — | — | — | — | $6.9m | — | |
| Net Cash Provided by (Used in) Operating Activities | $98.7m |
$142.7m
+44.63%
|
$95.6m
-33.04%
|
$181.0m
+89.41%
|
$209.7m
+15.86%
|
$639.0m
+204.71%
|
$2.5b
+285.40%
|
$1.6b
-34.38%
|
($435.4m)
-126.94%
|
$49.7m
+111.41%
|
($59.0m)
-218.72%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $67.5m | $67.8m | $143.1m | $279.0m | $118.3m | $498.5m | $1.2b | $1.1b | $358.8m | $173.0m | ($144.1m) | |
| Property, plant and equipment acquisitions funded by liabilities | $67.5m | $67.8m | $143.1m | $279.0m | $118.3m | $498.5m | $1.2b | $1.1b | $358.8m | $173.0m | — | |
| Gain (Loss) on Disposition of Property Plant Equipment | ($181k) | ($155k) | — | — | ($1.1m) | ($2.7m) | ($8.9m) | ($4.4m) | ($18.9m) | ($2.3m) | $5.6m | |
| Payments to Acquire Investments | $582k | $64k | $37.9m | — | — | $501.4m | $46.2m | — | $2.1b | $2.8b | ($4.1b) | |
| Fair value change of short-term investments | — | — | — | — | — | ($2.4m) | ($1.1m) | ($110k) | ($29k) | ($1.4m) | — | |
| Purchase of short-term investments | ($582k) | ($64k) | ($37.9m) | — | — | ($501.4m) | ($46.2m) | — | ($2.1b) | ($2.8b) | — | |
| Redemption of short-term investments | — | — | $15.1m | $21.7m | — | $227.8m | $298.3m | $13.7m | $2.1b | $2.7b | — | |
| Net Cash Provided by (Used in) Investing Activities | ($66.1m) | ($63.1m) | ($164.7m) | ($261.8m) | ($118.5m) | ($781.9m) | ($998.4m) | ($1.2b) | ($1.5b) | ($134.2m) | ($199.0m) | |
| Cash flows from financing activities: | ||||||||||||
| Proceeds from bank borrowings | $107.0m | $92.0m | $56.0m | $178.2m | $98.6m | $48.8m | $178.8m | $140.0m | — | — | — | |
| Repayment of bank borrowings | ($116.3m) | ($111.0m) | ($59.8m) | ($74.6m) | ($198.0m) | ($244.8m) | ($178.8m) | ($140.0m) | — | — | — | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | $124.9m | $485.9m | $5.0m | — | — | |
| Proceeds from Issuance of Common Stock | — | — | $113.5m | — | — | $935.0m | — | — | — | — | — | |
| Dividend payment of the Subsidiary | — | — | — | — | — | — | ($33.8m) | ($303.7m) | ($35.8m) | — | — | |
| Net Cash Provided by (Used in) Financing Activities | ($30.3m) |
($37.4m)
-23.36%
|
$86.7m
+332.13%
|
$102.3m
+18.01%
|
($95.5m)
-193.30%
|
$736.2m
+871.15%
|
$1.5b
+99.95%
|
($795.4m)
-154.03%
|
($47.4m)
+94.05%
|
($850k)
+98.21%
|
($850k)
0.00%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $20.2m | $3.1m | $605.6m | $2.8b | ($472.4m) | ($2.0b) | ($58.1m) | $525.3m | |
| Cash, cash equivalents and restricted cash at the beginning of the year | $31.9m | $72.7m | $95.1m | $115.3m | $118.4m | $724.0m | $3.5b | $3.0b | $1.0b | $980.3m | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | $95.1m | $115.3m | $118.4m | $724.0m | $3.5b | $3.0b | $1.0b | $980.3m | $525.3m | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ($2.0m) | $3.3m | $4.9m | ($1.3m) | $7.4m | $12.2m | ($139.9m) | ($97.1m) | ($46.0m) | $27.4m | $34.1m | |
| Net decrease in cash, cash equivalents and restricted cash | — | $40.8m | $22.5m | $20.2m | $3.1m | $605.6m | $2.8b | ($472.4m) | ($2.0b) | ($58.1m) | — | |
| Restricted cash | $15.9m | $12.0m | $28.7m | $62.6m | $41.8m | $191k | $20.9m | $9.1m | $31.8m | $124.2m | — | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $14.2m | $18.0m | $10.8m | $10.2m | $24.7m | $21.2m | $7.9m | $4.7m | — | — | — | |
| Income Taxes Paid, Net | $3.0m | $9.5m | $19.5m | $5.5m | $12.8m | $108.1m | $350.6m | $289.5m | $102.5m | $4.3m | — | |
| Non-cash transactions: | ||||||||||||
| Additional Financial Items | ||||||||||||
| Foreign Currency Transaction Gain (Loss), before Tax | ($7k) | ($4k) | $1.8m | ($185k) | — | $0 | $680k | ($17.4m) | ($2.4m) | $31k | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | — | — | $61.4m | $28.3m | $129.3m | $748.9m | $1.8b | $429.5m | ($345.2m) | ($170.5m) | — | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | $62.1m | $28.3m | $133.9m | $864.8m | $2.5b | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | — | ($23.3m) | $1.3m | ($141k) | — | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | — | — | ($23.3m) | $1.3m | ($141k) | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $7.4m | $17.3m | $11.7m | $9.6m | $28.2m | $170.1m | $577.2m | $165.6m | ($69.9m) | ($21.0m) | — | |
| Investment Income, Interest | $408k | $487k | $1.2m | $983k | $907k | — | — | — | — | — | — | |
| Operating Expenses | $15.0m | $14.8m | $16.6m | $32.6m | $46.1m | $45.8m | $367.3m | $137.2m | $351.2m | $132.4m | — | |
| Operating Lease, Expense | — | — | — | $49k | — | $800k | $1.2m | $2.4m | $3.3m | $3.4m | — | |
| Proceeds from Noncontrolling Interests | — | — | — | $515k | $28.1m | — | — | — | — | — | — | |
| Proceeds from Stock Options Exercised | $1.1m | $2.2m | $687k | $791k | $580k | $2.1m | $995k | $4k | $57k | — | — | |
| Allowance for expected credit loss | — | — | — | — | — | — | — | — | $18.1m | $18.5m | — | |
| Others | — | — | — | $50k | $616k | $4.4m | $8.4m | $3.4m | $1.1m | ($381k) | — | |
| Notes receivable | ($2.6m) | ($12.9m) | $12.0m | $2.4m | $5.6m | ($360.3m) | ($816.2m) | $987.5m | $58.9m | ($76.3m) | — | |
| Advances to suppliers | ($761k) | ($786k) | ($1.9m) | $1.8m | ($6.0m) | $4.8m | $2.3m | ($13.5m) | $3.6m | ($10.8m) | — | |
| Amounts due from related parties | ($1.3m) | ($6.7m) | $82 | — | ($94k) | $118k | ($4k) | ($88k) | $60k | $43k | — | |
| Notes payable to third parties | ($1.4m) | $786k | ($14.2m) | $78.4m | ($54.3m) | ($26.1m) | — | — | $4.2m | $98.8m | — | |
| Income tax payable | $4.4m | $7.3m | ($7.3m) | ($605k) | $16.6m | $47.5m | $160.1m | ($126.1m) | ($88.1m) | ($508k) | — | |
| Advances from customers | ($134k) | $8.3m | $2.1m | $18.1m | $3.3m | $243.7m | ($3.6m) | ($7.3m) | ($191.3m) | $696k | — | |
| Amounts due to related parties | $1.8m | $849k | $9k | $103k | ($38k) | $25k | ($124k) | ($50k) | $137k | $38k | — | |
| Deferred government subsidies | ($339k) | ($671k) | ($605k) | ($171k) | ($497k) | ($562k) | ($1.0m) | ($547k) | ($538k) | ($140k) | — | |
| Purchases of land use rights | — | — | — | ($6.6m) | — | ($9.8m) | ($45.2m) | ($76.1m) | ($10.1m) | — | — | |
| Purchase of fixed-term deposit | — | — | — | — | — | — | — | ($26.8m) | ($2.1b) | ($1.8b) | — | |
| Redemption of fixed term deposit | — | — | — | — | — | — | — | — | $1.0b | $1.9b | — | |
| Proceeds from options exercised | $1.1m | $2.2m | $687k | $791k | $580k | $2.1m | $995k | $4k | $57k | — | — | |
| Proceeds from subsidiary's public offering of ordinary shares, net of issuance costs paid of $59 million | — | $0 | $113.5m | $0 | — | $935.0m | — | — | — | — | — | |
| Payments for repurchase of common shares | — | — | — | — | — | — | ($124.9m) | ($485.9m) | ($5.0m) | — | — | |
| Payments for repurchase of shares by the Subsidiary | — | — | — | — | — | — | — | ($36.2m) | ($7.6m) | ($850k) | — | |
| Proceeds from exercise of the Subsidiary's stock options | — | — | — | — | — | — | — | $30.4m | $1.1m | — | — | |
| Cash and cash equivalents | $16.0m | $60.7m | $65.4m | $52.7m | $76.6m | $723.8m | $3.5b | $3.0b | $1.0b | $856.1m | $791.9m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.