China-based solar-grade polysilicon maker Tebian Electric Apparatus had net profit of CNY1.811 billion (US$294 million) for 2014 hiking on year by 31.49%, while fellow maker Daqo New Energy saw operations swing from net loss of US$70.9 million in 2013 to net profit of US$16.7 million in 2014, according to the companies.

Tebian posted revenues of CNY36.075 billion and net operating profit of CNY16.931 billion for 2014, increasing on year by 23.65% and 31.07% respectively. The company produced 17,500 tons of polysilicon in 2014, during which it also started constructing PV and wind power-generating stations with total installation capacity of over 1GWp and signed electricity transmission and transformation contracts worth CNY22.0 billion.

Daqo reduced polysilicon production cost from US$15.75/kg in the fourth quarter of 2013 to US$13.23/kg in the fourth quarter of 2014.