# Daqo New Energy Corp.: Form 20-F for the period ended Dec 31, 2025

- Company: [Daqo New Energy Corp.](/companies/dq.md) (CIK 1477641)
- Form: 20-F
- Filed: 2026-04-20
- Accepted by EDGAR: Apr 20, 2026, 06:21 ET
- Period: 2025-12-31
- Accession: 0001104659-26-045134
- Inline XBRL: yes
- Main document: https://www.sec.gov/Archives/edgar/data/1477641/000110465926045134/dq-20251231x20f.htm
- All documents and exhibits: https://www.sec.gov/Archives/edgar/data/1477641/000110465926045134/

## Figures reported in this filing

Standardized XBRL line items for the period ended 2025-12-31.

| Line item | Period | Value | XBRL concept |
| --- | --- | ---: | --- |
| Revenue | 12 months, 2025-01-01 to 2025-12-31 | $665.4m | us-gaap:Revenues |
| Cost of revenue | 12 months, 2025-01-01 to 2025-12-31 | $803.3m | us-gaap:CostOfRevenue |
| Gross profit | 12 months, 2025-01-01 to 2025-12-31 | −$137.9m | us-gaap:GrossProfit |
| Research and development | 12 months, 2025-01-01 to 2025-12-31 | $2.6m | us-gaap:ResearchAndDevelopmentExpense |
| Selling, general and administrative | 12 months, 2025-01-01 to 2025-12-31 | $118.2m | us-gaap:SellingGeneralAndAdministrativeExpense |
| Operating income | 12 months, 2025-01-01 to 2025-12-31 | −$270.2m | us-gaap:OperatingIncomeLoss |
| Income tax | 12 months, 2025-01-01 to 2025-12-31 | −$21.0m | us-gaap:IncomeTaxExpenseBenefit |
| Net income | 12 months, 2025-01-01 to 2025-12-31 | −$170.5m | us-gaap:NetIncomeLoss |
| Diluted EPS | 12 months, 2025-01-01 to 2025-12-31 | −$0.51 | us-gaap:EarningsPerShareDiluted |
| Basic EPS | 12 months, 2025-01-01 to 2025-12-31 | −$0.51 | us-gaap:EarningsPerShareBasic |
| Diluted shares (weighted) | 12 months, 2025-01-01 to 2025-12-31 | 336,756,038 shares | us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding |
| Operating cash flow | 12 months, 2025-01-01 to 2025-12-31 | $49.7m | us-gaap:NetCashProvidedByUsedInOperatingActivities |
| Capital expenditure | 12 months, 2025-01-01 to 2025-12-31 | $173.0m | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment |
| Cash and equivalents | at 2025-12-31 | $856.1m | us-gaap:CashAndCashEquivalentsAtCarryingValue |
| Current assets | at 2025-12-31 | $2.70bn | us-gaap:AssetsCurrent |
| Total assets | at 2025-12-31 | $6.45bn | us-gaap:Assets |
| Current liabilities | at 2025-12-31 | $501.6m | us-gaap:LiabilitiesCurrent |
| Total liabilities | at 2025-12-31 | $533.0m | us-gaap:Liabilities |
| Shareholders' equity | at 2025-12-31 | $4.41bn | us-gaap:StockholdersEquity |
| Shares outstanding | at 2025-12-31 | 338,330,684 shares | dei:EntityCommonStockSharesOutstanding |

## Sections

Sections are extracted only from 10-K and 10-Q reports. Read this filing’s documents on sec.gov. https://www.sec.gov/Archives/edgar/data/1477641/000110465926045134/dq-20251231x20f.htm

Filed Apr 20, 2026.
Source: SEC EDGAR, the filing index for accession 0001104659-26-045134. Last ingested by Listed: Oct 29, 2026, 07:39 ET. No prices; not investment advice.