US GAAP

Daqo New Energy Announces Unaudited Fourth Quarter and Fiscal Year 2023 Results

Retrieved on: 
Wednesday, February 28, 2024
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Revenues were $477.1 million, compared to $484.8 million in the third quarter of 2023 and $864.3 million in the fourth quarter of 2022.

Key Points: 
  • Revenues were $477.1 million, compared to $484.8 million in the third quarter of 2023 and $864.3 million in the fourth quarter of 2022.
  • Gross margin was 18.3%, compared to 14.0% in the third quarter of 2023 and 77.4% in the fourth quarter of 2022.
  • Operating margin was 17.5%, compared to 4.6% in the third quarter of 2023 and 72.1% in the fourth quarter of 2022.
  • EBITDA margin (non-GAAP) was 26.9%, compared to 14.5% in the third quarter of 2023 and 75.0% in the fourth quarter of 2022.

Daqo New Energy Announces Unaudited Third Quarter 2023 Results

Retrieved on: 
Monday, October 30, 2023
Research, RMB, Tax, Generally Accepted Accounting Principles (United States), Daqo New Energy, Public expenditure, American depositary receipt, N, ASP, GAAP, Harbor, Maintenance, R, Bank statement, US GAAP, Growth, ADS, Share repurchase, Depreciation, Forecasting, Climate change, Table, Ministry of New and Renewable Energy, Acceleration, Bank, Security (finance), Cryptocurrency, Renewable energy, Video game, Holding company, Airline, Internet service provider, EBITDA, Q3

Revenues were $484.8 million, compared to $636.7 million in the second quarter of 2023 and $1,219.7 million in the third quarter of 2022.

Key Points: 
  • Revenues were $484.8 million, compared to $636.7 million in the second quarter of 2023 and $1,219.7 million in the third quarter of 2022.
  • Gross margin was 14.0%, compared to 40.7% in the second quarter of 2023 and 80.2% in the third quarter of 2022.
  • Operating margin was 4.6%, compared to 33.6% in the second quarter of 2023 and 56.8% in the third quarter of 2022.
  • EBITDA margin (non-GAAP) was 14.5%, compared to 36.1% in the second quarter of 2023 and 59.0% in the third quarter of 2022.

Daqo New Energy Announces Unaudited Second Quarter 2023 Results

Retrieved on: 
Thursday, August 3, 2023
Daqo New Energy, Maintenance, ASP, Table, URL, Share repurchase, Harbor, ADS, Tax, GAAP, US GAAP, American depositary receipt, Generally Accepted Accounting Principles (United States), N, PV, Forecasting, Bank statement, Public expenditure, EBITDA, Depreciation, Weather, R, Research, Ministry of New and Renewable Energy, Fine chemical, Bank, Security (finance), Cryptocurrency, Video game, Holding company, Airline, Q2, Webcast

Gross margin was 40.7%, compared to 71.4% in the first quarter of 2023 and 76.1% in the second quarter of 2022.

Key Points: 
  • Gross margin was 40.7%, compared to 71.4% in the first quarter of 2023 and 76.1% in the second quarter of 2022.
  • Foreign exchange loss was $19.7 million, compared to nil in the first quarter of 2023 and the second quarter of 2022.
  • Operating margin was 33.6%, compared to 65.3% in the first quarter of 2023 and 74.6% in the second quarter of 2022.
  • Net income attributable to Daqo New Energy Corp. shareholders and earnings per ADS
    As a result of the abovementioned, net income attributable to Daqo New Energy Corp. shareholders was $103.7 million, compared to $278.8 million in the first quarter of 2023 and $627.8 million in the second quarter of 2022.

Change in Independent Registered Public Accounting Firm

Retrieved on: 
Thursday, July 13, 2023
ASA, BDO Global, Bank statement, Record, GAAP, US GAAP, Public sector, PCAOB, US Commercial Real Estate Index, Disagreement, Public Company Accounting Oversight Board, SRB, Azure, Letter, NYSE, Fiscal, Audit

NEW DELHI, July 13, 2023 /PRNewswire/ -- Azure Power Global Limited (the "Company" or "Azure") (NYSE: AZRE), an independent sustainable energy solutions provider and renewable power producer in India, today announced change in its independent registered public accounting firm.

Key Points: 
  • NEW DELHI, July 13, 2023 /PRNewswire/ -- Azure Power Global Limited (the "Company" or "Azure") (NYSE: AZRE), an independent sustainable energy solutions provider and renewable power producer in India, today announced change in its independent registered public accounting firm.
  • On July 12, 2023, the Company's Board approved the appointment of ASA & Associates LLP ("ASA") as an independent public accounting firm registered with the Public Company Accounting Oversight Board ("PCAOB"), for the Company's US GAAP consolidated financial statements for the fiscal year ended March 31, 2022 ("Fiscal 2022"), pursuant to the resignation of S.R.
  • In India, ASA is the auditor for one of the largest public sector banks in India and have been an auditor for various large size public institutions.
  • SRB in its letter dated July 10, 2023, tendered its resignations as the independent registered public accounting firm of the Company and the Auditors of the subsidiary companies of APIPL.

Change in Independent Registered Public Accounting Firm

Retrieved on: 
Thursday, July 13, 2023
ASA, BDO Global, Bank statement, Record, GAAP, US GAAP, Public sector, PCAOB, US Commercial Real Estate Index, Disagreement, Public Company Accounting Oversight Board, SRB, Azure, Letter, NYSE, Fiscal, Audit

NEW DELHI, July 13, 2023 /PRNewswire/ -- Azure Power Global Limited (the "Company" or "Azure") (NYSE: AZRE), an independent sustainable energy solutions provider and renewable power producer in India, today announced change in its independent registered public accounting firm.

Key Points: 
  • NEW DELHI, July 13, 2023 /PRNewswire/ -- Azure Power Global Limited (the "Company" or "Azure") (NYSE: AZRE), an independent sustainable energy solutions provider and renewable power producer in India, today announced change in its independent registered public accounting firm.
  • On July 12, 2023, the Company's Board approved the appointment of ASA & Associates LLP ("ASA") as an independent public accounting firm registered with the Public Company Accounting Oversight Board ("PCAOB"), for the Company's US GAAP consolidated financial statements for the fiscal year ended March 31, 2022 ("Fiscal 2022"), pursuant to the resignation of S.R.
  • In India, ASA is the auditor for one of the largest public sector banks in India and have been an auditor for various large size public institutions.
  • SRB in its letter dated July 10, 2023, tendered its resignations as the independent registered public accounting firm of the Company and the Auditors of the subsidiary companies of APIPL.

Daqo New Energy Announces Unaudited First Quarter 2023 Results

Retrieved on: 
Thursday, April 27, 2023
Daqo New Energy, Maintenance, ASP, ASPS, URL, Table, Share repurchase, Harbor, ADS, Tax, Photovoltaic system, GAAP, US GAAP, American depositary receipt, Generally Accepted Accounting Principles (United States), PV, Forecasting, Bank statement, Public expenditure, EBITDA, Depreciation, R, Research, Ministry of New and Renewable Energy, RMB, Bank, Cryptocurrency, Rare-earth element, Renewable energy, Holding company, Video game, Internet service provider, Webcast

(2)  Daqo New Energy provides EBITDA, EBITDA margins, adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic ADS on a non-GAAP basis to provide supplemental information regarding its financial performance.

Key Points: 
  • (2)  Daqo New Energy provides EBITDA, EBITDA margins, adjusted net income attributable to Daqo New Energy Corp. shareholders and adjusted earnings per basic ADS on a non-GAAP basis to provide supplemental information regarding its financial performance.
  • Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "Efficient operation of our polysilicon facilities in the first quarter of 2023 resulted in a production volume of 33,848 MT.
  • Operating margin was 65.3%, compared to 72.1% in the fourth quarter of 2022 and 62.2% in the first quarter of 2022.
  • The Company has scheduled a conference call to discuss the results at 7:00 AM Eastern Time on April 27, 2023.

Daqo New Energy Announces Unaudited Fourth Quarter and Fiscal Year 2022 Results

Retrieved on: 
Tuesday, February 28, 2023
EBITDA, Bank statement, Climate change, Depreciation, Forecasting, RMB, Public expenditure, Research, Harbor, Daqo New Energy, Maintenance, GAAP, American depositary receipt, R, US GAAP, Growth, Tax, Photovoltaic system, Table, URL, Generally Accepted Accounting Principles (United States), ASP, ASPS, ADS, Chinese, Ministry of New and Renewable Energy, Engineered wood, Video game, Cryptocurrency, Bank, Security (finance), Renewable energy, Rare-earth element, Holding company, Internet service provider, Webcast

Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are very pleased to report record results for the year 2022.

Key Points: 
  • Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are very pleased to report record results for the year 2022.
  • Revenues were $864.3 million, compared to $1,219.7 million in the third quarter of 2022 and $395.5 million in the fourth quarter of 2021.
  • Gross margin was 77.4%, compared to 80.2% in the third quarter of 2022 and 60.6% in the fourth quarter of 2021.
  • Operating margin was 72.1%, compared to 56.8% in the third quarter of 2022 and 57.7% in the fourth quarter of 2021.

Daqo New Energy Announces Unaudited Financial Results for the Third Quarter of 2022

Retrieved on: 
Thursday, October 27, 2022
American depositary receipt, Daqo New Energy, R, ADR, US GAAP, ASP, Table, Climate change, Depreciation, RMB, Technology, URL, Investment, Company, Income, EBITDA, VAT, Mission statement, Research, CEO, Generally Accepted Accounting Principles (United States), Energy in New Zealand, MT, GAAP, ADR Institute of Alberta, Forecasting, Public expenditure, RSU F.C., Maintenance, Carbon, Tax, ASPS, Share repurchase, ADS, Harbor, Bank, Security (finance), Renewable energy, Video game, Online gambling, Lithium, Holding company, Cryptocurrency, Internet service provider, Webcast

Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are pleased to announce that the Company continued to deliver an excellent performance in the third quarter of 2022.

Key Points: 
  • Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are pleased to announce that the Company continued to deliver an excellent performance in the third quarter of 2022.
  • Gross margin was 80.2%, compared to 76.1% in the second quarter of 2022 and 74.3% in the third quarter of 2021.
  • Operating margin was 56.8%, compared to 74.6% in the second quarter of 2022 and 72.0% in the third quarter of 2021.
  • The Company has scheduled a conference call to discuss the results at 8:00 AM Eastern Time on October 27, 2022.

Daqo New Energy Announces Unaudited Second Quarter 2022 Results

Retrieved on: 
Wednesday, August 3, 2022
ASP, ADR Institute of Alberta, Depreciation, Solar energy, Mission statement, Forecasting, GAAP, Silicon, PPA, R, Harbor, Shanghai Stock Exchange, Adoption, Energy in New Zealand, Economics, US GAAP, VAT, Natural gas, ASPS, Tax, American depositary receipt, RMB, EBITDA, ADR, Generally Accepted Accounting Principles (United States), Technology, Public expenditure, CEO, Q4, Natural borrowing limit, Table, Human, Research, Investment, Company, Income, Efficiency, Industry, Association, ADS, Electricity, Maintenance, Climate change, Fine chemical, Bank, Video game, Renewable energy, Online gambling, Lithium, Daqo New Energy

Revenues were $1,244.1 million, compared to $1,280.3 million in the first quarter of 2022 and $441.4 million in the second quarter of 2021.

Key Points: 
  • Revenues were $1,244.1 million, compared to $1,280.3 million in the first quarter of 2022 and $441.4 million in the second quarter of 2021.
  • Gross margin was 76.1%, compared to 63.5% in the first quarter of 2022 and 68.7% in the second quarter of 2021.
  • Operating margin was 74.6%, compared to 62.2% in the first quarter of 2022 and 66.3% in the second quarter of 2021.
  • Net income attributable to Daqo New Energy Corp. shareholders and earnings per ADS
    As a result of the aforementioned, net income attributable to Daqo New Energy Corp. shareholders was $627.8 million, compared to $535.8 million in the first quarter of 2022 and $232.1 million in the second quarter of 2021.

Daqo New Energy Announces Unaudited First Quarter 2022 Results

Retrieved on: 
Thursday, April 21, 2022
VAT, US GAAP, Public expenditure, CEO, ASPS, GAAP, Association, Harbor, American depositary receipt, RMB, Acceleration, European Green Deal, R, Energy in New Zealand, Generally Accepted Accounting Principles (United States), EBITDA, EPS, Depreciation, Efficiency, Natural borrowing limit, Company, Maintenance, Tax, Daqo New Energy, Mission statement, Solar energy, Investment, Statistics, Policy, Forecasting, Income, Table, Union, Silicon, ADS, Research, Bank, Video game, Lithium, Renewable energy, Online gambling

(2) Daqo New Energy provides EBITDA and EBITDA margins on a non-GAAP basis to provide supplemental information regarding its financial performance.

Key Points: 
  • (2) Daqo New Energy provides EBITDA and EBITDA margins on a non-GAAP basis to provide supplemental information regarding its financial performance.
  • Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are very pleased to report exceptional results for the first quarter of 2022, the best-ever in the company's history.
  • For the quarter, we achieved polysilicon sales volume of 38,839 MT, more than 3 times our sales volume for the fourth quarter of 2021.
  • The Company has scheduled a conference call to discuss the results at 8:00 AM Eastern Time on April 21, 2022.