SHANGHAI, Dec. 20, 2021 /PRNewswire/ -- Daqo New Energy
Corp. (NYSE: DQ) ("Daqo New Energy", the "Company" or "we"), a
leading manufacturer of high-purity polysilicon for the global
solar PV industry, today announced that its subsidiary Xinjiang
Daqo had entered into a strategic cooperation framework agreement
with Baotou city, in China's Inner
Mongolia autonomous region, for its future projects related to
polysilicon, silicon metal and silicone.
According to the strategic cooperation framework agreement
between Xinjiang Daqo and Baotou city, Xinjiang Daqo plans to build
polysilicon projects for the solar industry with a total annual
production capacity of 200,000 Metric Tons (MT), polysilicon
projects for the semiconductor industry with a total annual
capacity of 21,000 MT, silicon metal
projects with a total annual capacity of 300,000 MT and silicone
projects with a total annual capacity of 200,000 MT in Baotou city.
These projects will be conducted in two phases. The first phase
will start construction in the first quarter of 2022 and is
expected to be completed in the second quarter of 2023, and it
consists of a 100,000 MT polysilicon project for the solar industry
and a 1,000 MT polysilicon project
for the semiconductor industry with an estimated total investment
of RMB8.55 billion. The plan and time
table for the second phase will be determined later according to
market conditions. According to the agreement, Xinjiang Daqo will
enjoy favorable electricity rate and other relevant preferential
treatment. Moreover, Xinjiang Daqo will be granted the highest
priority for the use of green energy within Baotou City, including
the direct supply of green energy to the new projects.
In addition, at the executional level, Xinjiang Daqo has entered
into a project investment agreement with the government of the
Jiuyuan District of Baotou City in which the polysilicon projects
will be located, and a letter of investment intent with the
government of Guyang County of Baotou City in which the metal
silicon and silicone projects will be located.
The above-mentioned agreements and letter will become effective
upon approval by the relevant government authorities of Baotou City
and Xinjiang Daqo's board of directors and shareholders'
Mr. Longgen Zhang, CEO of Daqo New Energy, commented, "We are
very excited to have the opportunity to strategically
cooperate with Baotou City for our polysilicon expansion projects
for the solar and semiconductor industries for the next year and to
potentially expand our business to silicon metal and silicone in
the future. Baotou is a city with very rich energy resources and
strong industrial foundation, which will significantly benefit our
future development. In addition, Baotou is also a city with an
ambitious plan to play an important role in the energy
transformation from traditional fossil fuel to renewable energy,
which is consistent with our mission to serve the fast-growing
solar PV industry. Our polysilicon plants in Baotou City are
expected to partially use renewable energy to produce polysilicon
and gradually realize 'renewable for solar' in the near
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company") is a
leading manufacturer of high-purity polysilicon for the global
solar PV industry. Founded in 2007, the Company manufactures and
sells high-purity polysilicon to photovoltaic product manufactures,
who further process the polysilicon into ingots, wafers, cells and
modules for solar power solutions. The Company has a total
polysilicon nameplate capacity of 105,000 metric tons and is one of
the world's lowest cost producers of high-purity polysilicon.
For more information, please visit www.dqsolar.com
Daqo New Energy Corp.
Mr. Rene Vanguestaine
Phone: +86 178 1749 0483
In the U.S.
Ms. Linda Bergkamp
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," and similar statements. The Company may
also make written or oral forward-looking statements in its reports
filed or furnished to the U.S. Securities and Exchange Commission,
in its annual reports to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, including its ability to obtain approvals and
enjoy preferential treatment, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, all of which are difficult or impossible to predict
accurately and many of which are beyond the Company's control. A
number of factors could cause actual results to differ materially
from those contained in any forward-looking statement, including
but not limited to the following: the demand for photovoltaic
products and the development of photovoltaic technologies; global
supply and demand for polysilicon; alternative technologies in cell
manufacturing; the Company's ability to significantly expand its
polysilicon production capacity and output; the reduction in or
elimination of government subsidies and economic incentives for
solar energy applications; the Company's ability to lower its
production costs; changes in the political and regulatory
environment; and the duration of COVID-19 outbreaks in China and many other countries and the impact
of the outbreaks and the quarantines and travel restrictions
instituted by relevant governments on economic and market
conditions, including potentially weaker global demand for solar PV
installations that could adversely affect the Company's business
and financial performance. Further information regarding these and
other risks is included in the reports or documents the Company has
filed with, or furnished to, the U.S. Securities and Exchange
Commission. All information provided in this press release is as of
the date hereof, and the Company undertakes no duty to update such
information or any forward-looking statement, except as required
under applicable law.
SOURCE Daqo New Energy Corp.