Daqo New Energy Corp. specializes in the production of high-purity polysilicon, serving as a critical upstream supplier to the global solar photovoltaic (PV) industry. The company operates major manufacturing facilities in China, including significant capacity in Xinjiang and Inner Mongolia, where it turns industrial silicon into the high-purity feedstock required for solar applications. Its primary product is ready-to-use polysilicon, which is sold to manufacturers who further process it into ingots, wafers, cells, and modules. Daqo generates revenue through both long-term supply contracts and spot market sales to major solar product manufacturers. By concentrating exclusively on raw material production rather than finished solar systems, the company operates a highly industrial, commodity-style business model. Its competitive position is driven by its ability to maintain large-scale, low-cost production while meeting the stringent quality and purity requirements of the solar supply chain.
