Daqo New Energy Corp ADR

Hello and welcome to the Dalcoat New Energy second quarter 2024 results conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then 2. Please note this event is being recorded. I would now like to turn the conference over to Anita Xu, Investor Relations Director. Please go ahead.

Hello, everyone. I'm Anita Xu, the Investor Relations of DocuNew Energy. Thank you for joining our conference call today. DocuNew Energy just issued its financial results for the second quarter of 2024, which can be found on our website at www.docunewenergy.com. So today, attending the conference call, we have our chairman and CEO, Mr. Xiang Xu, our CFO, Mr. Ming Yang, and myself. The call today will begin with an update from Mr. Xu on market conditions and company operations. And then Mr. Yang will discuss the company's financial performance for the quarter and the year. After that, we'll open the floor to Q&A from the audience. Before we begin the formal remarks, I would like to remind you that certain statements on today's call, including expected future operational and financial performance and industry growth, are forward-looking statements that are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those containing any forward-looking statement. Further information regarding these and other risks is included in the reports or documents we have filed with or furnished to the Securities and Exchange Commission. These statements only reflect our current and preliminary view as of today and may be subject to change. Our ability to achieve these projections is subject to risks and uncertainties. All information provided in today's call is as of today and we undertake no duty to update such information except as required under applicable law. Also during the call, we'll occasionally reference monetary amounts in U.S. dollar terms. Please keep in mind that our functional currency is a Chinese RMB. We offer these translations into U.S. dollars solely for the convenience of the audience. Mr. Xu will make his remarks regarding current market conditions and company performance in Chinese. Let's all translate into English after he finishes. So now I'll turn the call to our CEO. So now I'll turn the call to our CEO.

So now I'll turn the call to our CEO. So now I'll turn the call to our CEO. So now I'll turn the call to our CEO. We maintain a strong financial support table. There is no short-term or long-term debt. Our cash flow is 9.97 billion U.S. dollars. Our cash flow is 11 billion U.S. dollars. Our cash flow is 11 billion U.S. dollars. Our cash flow is 11 billion U.S. dollars. Our cash flow is 9.97 billion U.S. dollars. Our cash flow is 9.97 billion U.S. dollars. Our cash flow is 9.97 billion U.S. dollars. Our cash flow is 9.97 billion U.S. dollars. Our cash flow is 9.97 billion U.S. dollars. In the second quarter, the total production volume reached 64.961 tons. In the last quarter, the project increased by 2.268 tons. It will continue to invest in development and focus on increasing the product range. In this quarter, our N-type products reached 73%. This is a project that is in the process of climbing up. The N-type products also reached 74%. This means that we have a lot of confidence that it can be realized. In the past, it was 100% N-type. In addition, our production cost has dropped significantly in the second quarter, and it has dropped by 3% in the first quarter of 2020. The average production cost is 6.19 billion U.S. dollars per kilogram. Due to the current market situation and the price of the product, we have adjusted the production rate and utilization rate of the next few goals and the production time of the next few years. In the first quarter of 2020, the total production rate of the next few goals was 4,300 tons, 4,300,000 tons, and 4,000,000 tons. In the third quarter, we have already begun to reduce the production capacity and reduce the production capacity, and reduce the production capacity, and reduce the production capacity, and reduce the production capacity, and reduce the production capacity, and reduce the production capacity, and reduce the production capacity, and reduce the production capacity, to break through the cash flow cost line. The cash flow cost has fallen from 60 yuan per kilogram at the beginning of April to 40 to 55 yuan per kilogram at the end of April. At the beginning of May, it broke through 40 yuan per kilogram. Because the cash flow market activity has significantly decreased, the stock market has shrunk and led to a sharp decline in cash flow. At the beginning of April, the stock market capitalization rate increased from 18 to 20 days, up to six months. In terms of price and cost reduction, we started to see that a number of oil and gas companies began to stop and reduce the supply and demand of oil and gas. According to industry statistics, in China, oil and gas companies produced 19.2 million tons of oil in April, plus 16.2 million tons in June. Then, the supply and demand of oil and gas is still higher than the demand for oil and gas. Because the supply and demand of oil and gas is lower than the demand for oil and gas, the supply and demand for oil and gas is lower than the demand for oil and gas. The demand for oil in June will be around 50 tons. In July, we hope that the oil production will not decline in June, but the demand for oil in summer will also decrease significantly. As a result, the price of oil in summer will be stable. We need to see the increase in the opening price of oil in summer. The demand for oil in summer will increase, which will increase the reduction in the rate of oil storage in oil storage. As for the current industry, although we were in but there is no sign of a reversal. We rely on the company's own funding procedures and leading technology to deal with many aspects of the company, but the government is also actively leading the state-owned enterprises to reduce production, single-use, and expand production of light and dark manufacturing projects. With the elimination of road production, under the guidance of the Ministry of Industry and Industry, the Chinese light and dark industry has set up a high-end development forum. In July, the Ministry of Industry and Industry addressed the requirements of the light and dark manufacturing industry, This is the opinion of the Communist Party of China. The opinion is that the capital of the new light house project is lower than that of the new light house. There is a clear demand for good indicators for the management of the new light house, etc. The entire industry has been under the influence for a year. We have also been through a few years. At that time, the price of the first place and the pessimistic mood will eventually build a more rational market environment. Handong is finally over. The light house industry after the process Hello, everyone.