Apr. 29 at 7:07 PM
$DQ so management essentially shut down production so they won’t lose on every kg of poly sold, except for some long-term contracts they must fulfill. Tongwei is losing
$1B per year, GCL close to
$500M, and I’m sure all new entrants are deep in red. The sector is waiting for a wave of defaults as most new capacity built was with loans.
$DQ is holding
$2B in cash and market cap
$1.3B … essentially you are buying
$1 cash (in China) for 65 cents. Not counting plants, IP, etc.
