SHANGHAI, May 2, 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 ("Xinjiang
Daqo"), had obtained approval from the Shanghai Stock Exchange for
its planned private offering in China's A-share market.
Xinjiang Daqo intends to raise up to RMB11 billion from
this private offering, including approximately RMB8
billion of the gross proceeds to be used for its 100,000 metric
tons of polysilicon expansion project in Baotou City, Inner
Mongolia, China, and the rest of the proceeds for
its working capital purposes. This transaction is
subject to market conditions and further approval from the China
Securities Regulatory Commission.
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. Among other
things, Xinjiang Daqo's private offering and project expansion
plans contain forward-looking 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, 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.