China Economic Net, Beijing, January 20 - Daqo Energy (688303.SH) disclosed the announcement of the pre-loss of its 2024 annual results last night. 

According to the preliminary accounting of the financial department, Daqo Energy expects that the net profit attributable to the owners of the parent company in 2024 will be a loss compared with the same period of the previous year (statutory disclosure data), and the net loss attributable to the owners of the parent company will be 260,000.00 yuan to 310,000.00 yuan. The company expects to achieve a net loss attributable to owners of the parent company after deducting non-recurring gains and losses of 255,000.00 yuan to 305,000.00 yuan in 2024. 

This is the first time that Daqo Energy has suffered a loss since its listing. Daqo Energy's net profit attributable to owners of the parent company in 2023 will be 5762.6962 million yuan, and the net profit attributable to owners of the parent company after deducting non-recurring gains and losses will be 5775.9365 million yuan.

Daqo Energy was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange on July 22, 2021, with a public offering of 300,000,000 shares and an issue price of RMB 21.49 per share.  

Daqo Energy's initial public offering of shares raised a total of 644,700.00 million yuan, and the net amount of funds raised was 6,067,191,800 yuan, which was 1,067,191,800 yuan more than the original plan. According to the prospectus disclosed by Daqo Energy on July 19, 2021, the company intends to raise funds of 500,000.00 yuan, which is planned to be used for a project with an annual output of 1,000 tons of high-purity semiconductor materials, a project with an annual output of 35,000 tons of polysilicon, and replenishment of working capital.  

The total issuance expenses of Daqo Energy's initial public offering of shares were 379.8082 million yuan, of which the sponsorship and underwriting expenses were 344.32 million yuan.  

Daqo Energy issued A-shares to specific targets in 2022. According to the "Reply on Agreeing to the Registration of Xinjiang Daqo New Energy Co., Ltd. to Issue Shares to Specific Targets" (Zheng Jian Xu Xu [2022] No. 1119) issued by the China Securities Regulatory Commission, it is agreed that the company will issue A shares to specific targets. Daqo Energy has actually issued 212,396,215 RMB ordinary shares (A shares) (par value of RMB 1.00 per share) to specific targets at an issue price of RMB 51.79 per share. The total amount of funds raised by the Company in this offering is RMB10,999,999,974.85, deducting the issuance expenses of RMB63,227,799.87 excluding tax, and the net amount of funds raised is RMB10,936,772,174.98 (excluding the input VAT related to the issuance expenses). The above funds were fully received on June 28, 2022, and were verified by Deloitte Touche Tohmatsu Certified Public Accountants (Special General Partnership) and issued a capital verification report of Deshi Bao (Inspection) Zi (22) No. 00299. As of December 31, 2023, Daqo Energy has used a total of RMB 10,953,146,619.15 of the raised funds. In 2022, all the funds actually raised from the issuance of A-shares to specific targets have been put into use. Currently, the stock price is trading below the offer price.  

Daqo Energy raised a total of 17.447 billion yuan in two times.