SHANGHAI, April 29, 2026 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" the "Company" or "we"), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced its unaudited financial results for the first quarter ended March 31, 2026. First Quarter 2026 Financial and Operating Highlights Aggregate of cash, short-term investments, bank notes receivable, held-to-maturity investments and fixed term bank deposit balance was $2.00 billion at the end of Q1 2026, compared to $2.27 billion at the end of Q4 2025 Polysilicon production volume was 43,402 MT in Q1 2026, compared to 42,181 MT in Q4 2025 Polysilicon sales volume was 4,482 MT in Q1 2026, compared to 38,167 MT in Q4 2025 Polysilicon average total production cost(1) was $5.95/kg in Q1 2026, compared to $5.83/kg in Q4 2025 Polysilicon average cash cost(1) was $4.59/kg in Q1 2026, compared to $4.46/kg in Q4 2025 Polysilicon average selling price (ASP) was $5.96/kg in Q1 2026, compared to $5.83/kg in Q4 2025 Revenue was $26.7 million in Q1 2026, compared to $221.7 million in Q4 2025 Gross loss was $139.4 million in Q1 2026, compared to gross profit of $15.4 million in Q4 2025; gross margin was negative 521.5% in Q1 2026, compared to 7.0% in Q4 2025 Net loss attributable to Daqo New Energy Corp. shareholders was $88.4 million in Q1 2026, compared to $7.3 million in Q4 2025; loss per basic American Depositary Share (ADS)(3) was $1.31 in Q1 2026, compared to $0.11 in Q4 2025 Adjusted net loss (non-GAAP)(2) attributable to Daqo New Energy Corp. shareholders was $88.4 million in Q1 2026, compared to $7.3 million in Q4 2025 Adjusted loss per basic ADS(3) (non-GAAP)(2) was $1.31 in Q1 2026, compared to adjusted loss per basic ADS(3) (non-GAAP)(2) of $0.11 in Q4 2025; EBITDA (non-GAAP)(2) was negative $83.1 million in Q1 2026, compared to $52.5 million in Q4 2025; EBITDA margin (non-GAAP)(2) was negative 311.1% in Q1 2026, compared to 23.7% in Q4 2025 Three months ended US$ millions except as indicated otherwise Mar. 31,2026 Dec. 31,2025 Mar. 31,2025 Revenues 26.7 221.7 123.9 Gross (loss)/profit (139.4) 15.4 (81.5) Gross margin (521.5) % 7.0 % (65.8) % Loss from operations (150.8) (20.9) (114.1) Net loss attributable to Daqo New Energy Corp.shareholders (88.4) (7.3) (71.8) Loss per basic ADS(3) ($ per ADS) (1.31) (0.11) (1.07) Adjusted net loss (non-GAAP)(2) attributable to DaqoNew Energy Corp. shareholders (88.4) (7.3) (53.2) Adjusted loss per basic ADS(3) (non-GAAP)(2) ($ perADS) (1.31) (0.11) (0.80) EBITDA (non-GAAP)(2) (83.1) 52.5 (48.4) EBITDA margin (non-GAAP)(2) (311.1) % 23.7 % (39.1) % Polysilicon sales volume (MT) 4,482 38,167 28,008 Polysilicon average total production cost ($/kg)(1) 5.95 5.83 7.57 Polysilicon average cash cost (excl.
