Daqo New Energy Corp - Company Profile
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Business Description
Daqo New Energy Corp (Daqo) is a manufacturer of high-purity polysilicon, a key component in the production of photovoltaic products for solar power solutions. The company uses the chemical vapor deposition process, as the modified Siemens process, to produce polysilicon. The company primarily serves photovoltaic product manufacturers in China.
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R&D Overview
Daqo has undertaken significant R&D initiatives focused on enhancing the polysilicon manufacturing process. In FY2024, the company completed 59 research and technology or process improvement projects and successfully registered 112 patents with the State Intellectual Property Office of the PRC. The R&D efforts are directed towards improving product quality, reducing manufacturing costs, and expanding product markets. As of December 31, 2024, the company held 429 patents with 161 additional pending applications covering various aspects of the polysilicon and wafer manufacturing process. The R&D unit of Daqo is responsible for spearheading the company's research and development efforts, setting strategic directions for the advancement of products and production processes, and focusing on improving product quality, reducing manufacturing costs, and broadening product markets. The company has a major technology alliance with GTAT Corporation, under which it has licensed Hydrochlorination TCS Production Technology and Chlorosilane Recovery/Waste Neutralization Technology. In FY2024, the company spent US$4.6 million in R&D, which as a percentage of revenue stood at 0.4%.
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