Shares of Daqo New Energy Corp. (DQ), a leading manufacturer of high-purity polysilicon for the global solar PV industry, plummeted 8.58% in Tuesday's trading session. The significant drop came as Asian equities traded in the US as American depositary receipts (ADRs) experienced a sharp decline.

The S&P Asia 50 ADR Index fell 1.32% to 2,617.22, reflecting a broader selloff in Asian stocks listed in the US market. Daqo New Energy was among the biggest decliners in this group, with its stock price tumbling alongside other Chinese technology and renewable energy companies. The company's shares closed near the bottom of the North Asian ADR performance list, outpacing the overall index's losses.

While Daqo New Energy announced its upcoming annual general meeting scheduled for December 12, 2025, this news did not appear to be a direct catalyst for the stock's decline. Instead, the company's shares seem to have been caught in a wider market downturn affecting Asian ADRs, particularly those in the technology and renewable energy sectors. Investors may be reassessing their positions in these sectors amid global economic concerns and market volatility.