(Yicai Global) Nov. 8 -- Daqo New Energy, a Chinese solar module material producer, has received its fifth major supply order in less than a month amid the quickly enlarging renewables sector.

Daqo and its unit in the Inner Mongolia Autonomous Region will provide 137,000 tons of polysilicon to a client till December 2027, the Xinjiang Uygur Autonomous Region-based firm said in a statement yesterday, without disclosing the name of the customer.

The deal will be worth CNY41.5 billion (USD5.7 billion) based on the current average market price of CNY303,000 (USD41,733) per ton, Daqo said.

Since Oct. 14, the firm has received five orders expected to be worth CNY248.2 billion (USD34.2 billion) in total based on the most recent prices even though the exact prices will be negotiated monthly.

Solar panel materials have been surging this year amid the expansion of China's photovoltaic industry. That prompted regulators in August to call for a crackdown on price gouging while encouraging domestic PV firms to sign standing orders to keep their costs reasonable.

The rising prices have boosted material suppliers' earnings. Daqo reported a more than threefold increase in net profit to CNY15.1 billion in the first three quarters of this year from a year ago, according to its earnings report. Meanwhile, revenue almost tripled to CNY24.7 billion.

Daqo's stock price [SHA: 688303] closed 0.7 percent higher at CNY55.07 (USD7.60) after jumping 4.8 percent intraday.

Editor: Emmi Laine, Xiao Yi