SHANGHAI, Feb. 28, 2022 /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 New Energy has signed a long-term high-purity polysilicon
supply agreement with a leading solar manufacturing company in
China.
Under the supply agreement, Xinjiang Daqo will provide
high-purity mono-grade polysilicon to a leading solar manufacturing
company in a total amount of approximately 30,000 MT between January
2022 and December 2026. Actual
volume and prices will be negotiated monthly by both parties
according to market conditions.
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy,
commented, "We are very pleased to sign the long-term high-purity
polysilicon supply contract with this leading solar manufacturing
company. With this contract and other existing contracts, our
available capacity of this year has already been fully booked. We
believe solar PV will play an increasingly important role in the
global energy market as we are entering into the era of grid-parity
and as the levelized cost of solar PV is being continuously
reduced. As always, we will focus on our core business by
accelerating our capacity expansion and providing high quality
products to contribute our effort to the fast-growing solar PV
market."
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
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, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. 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.
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SOURCE Daqo New Energy Corp.