Analyst Ratings for [DQ] DAQO New Energy Corp. ADS, each representing five

7/18/25	Initiated	Buy	X
DQ Daqo New Energy Citigroup
$27
4/30/25	Downgrades	Buy Hold	X
DQ Daqo New Energy HSBC Securities
$14
4/15/25	Downgrades	Buy Neutral	X
DQ Daqo New Energy Goldman
$17
10/30/24	Upgrades	Neutral Outperform	X
DQ Daqo New Energy Daiwa Securities
10/2/24	Upgrades	Hold Buy	X
DQ Daqo New Energy HSBC Securities
8/27/24	Upgrades	Reduce Hold	X
DQ Daqo New Energy HSBC Securities
$15
7/11/24	Initiated	Buy	X
DQ Daqo New Energy Goldman
9/19/23	Downgrades	Outperform Neutral	X
DQ Daqo New Energy Daiwa Securities
$45 $32
8/4/23	Upgrades	Neutral Buy	X
DQ Daqo New Energy Nomura
$45
5/5/23	Upgrades	Neutral Outperform	X
DQ Daqo New Energy Daiwa Securities
12/5/22	Downgrades	Buy Neutral	X
DQ Daqo New Energy Goldman
$140 $70
9/15/22	Downgrades	Outperform Neutral	X
DQ Daqo New Energy Daiwa Securities
6/10/21	Initiated	Buy	X
DQ Daqo New Energy HSBC Securities
$112
4/22/21	Initiated	Buy	X
DQ Daqo New Energy Jefferies
8/24/18	Initiated	Outperform	X
DQ Daqo New Energy Credit Suisse
$58
2/26/18	Downgrades	Buy Hold	X
DQ Daqo New Energy Tudor Pickering

DQ DAQO New Energy Corp. ADS, each representing five

Quotes: Barrons • SeekingAlpha • NASDAQ • Bloomberg • WSJ

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company's segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions. The Company offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling and solidification needs. The Company offers wafers through its downstream photovoltaic product manufacturing business. The Company also provides wafer original equipment manufacturer (OEM) service to external customers through tolling agreements by processing polysilicon to produce ingot and wafer. Its annual capacity for polysilicon is approximately 12,150 metric tons (MT) in Xinjiang. The Company's wafer manufacturing annual capacity is approximately 90 million pieces.