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Daqo New Energy Corp. (DQ US)

Year: 2023

Last Updated: 7 Jul, 2024

Chinese polysilicon manufacturer Daqo New Energy listed on the NYSE in October 2010. The company was initially attacked by short-seller Bleecker Street Research in January 2022 and then by J-Capital in September 2023. Most of the allegations centred around the alleged use of forced labour in Xinjiang province and the blacklisting of the company by the US Treasury. However, other allegations included excess industry capacity, insider selling and the shady background of senior management. There were no specific accounting or fraud allegations. 

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