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Daqo New Energy Subsidiary Provides Preliminary Estimates For FY20

Daqo New Energy Corp. (DQ) said its subsidiary Xinjiang Daqo New Energy estimates that net profit attributable to shareholders to be in the range of RMB 0.95 billion - RMB 1.05 billion and revenue of RMB 4.5 - RMB 4.7 billion for fiscal year 2020.

Daqo New Energy currently beneficially owns 95.6% of Xinjiang Daqo and a majority of the Company's revenue and net income are contributed by Xinjiang Daqo.

Daqo New Energy now expects the production volume to be in the range of 20,500~21,000 MT for the fourth-quarter and 76,700~77,200 MT for fiscal year 2020.

Sales volume for the fourth-quarter 2020 and the full year of 2020 are expected to be in the range of 23,000~23,200 MT and 74,700~74,900 MT, respectively.

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