India, April 29 -- Daqo New Energy (DQ) posted a first-quarter net loss attributable to shareholders of $71.8 million, compared to net income of $15.5 million in the first quarter of 2024. Loss per basic ADS was $1.07, compared to profit per basic ADS of $0.24. Adjusted net loss attributable to shareholders, excluding non-cash share-based compensation costs, was $53.2 million, compared to adjusted net income of $36.0 million in the first quarter of 2024. Adjusted loss per basic ADS was $0.80, compared to adjusted earnings per basic ADS of $0.55. Revenues were $123.9 million, compared to $415.3 million in the first quarter of 2024. Polysilicon production volume was 24,810 MT in first quarter.
Daqo New Energy expects to produce approximately...