CHONGQING, China, June 29, 2016 /PRNewswire/ -- Daqo New Energy
Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading
manufacturer of high-purity polysilicon for the solar PV industry,
today announced that its subsidiary, Xinjiang Daqo New Energy Stock
Co., Ltd. ("Xinjiang Daqo"), (ticker: 837316) has been successfully
listed on the National Equities Exchange and Quotations, an
emerging over-the-counter market in China (the "New Third Board"). Xinjiang Daqo
operates the polysilicon production facilities of the Company
located in Shihezi, Xinjiang Uyghur Autonomous Region. As
previously announced, Xinjiang Daqo received approval to list its
shares on the New Third Board in April
2016.
Daqo New Energy currently holds 99% of the outstanding equity
interest of Xinjiang Daqo, while the remaining 1% is held by
Xinjiang Daqo Investment Co., Ltd., a wholly-owned subsidiary of
Daqo Group Co., Ltd., an affiliate of the Company.
"The successful listing of Xinjiang Daqo's shares on New Third
Board marks a new phase of our development and is expected to
expand our access to potential capital sources to support our
healthy growth," commented Dr. Gongda Yao, Chief Executive Officer
of the Company.
The New Third Board is a national over-the-counter stock
exchange that supplements trading activities on the Shanghai and Shenzhen stock exchanges. The New Third Board
offers a new channel for enterprises in China to access the capital markets and to
gain greater exposure to the investment community.
About Daqo New Energy Corp.
Founded in 2008, Daqo New Energy Corp. (NYSE: DQ) is a leading
manufacturer of high-purity polysilicon for the global solar PV
industry. As one of the world's lowest cost producers of
high-purity polysilicon and solar wafers, the Company primarily
sells its products to solar cell and solar module manufacturers.
The Company has built a manufacturing facility that is technically
advanced and highly efficient with a nameplate capacity of 12,150
metric tons in Xinjiang, China. The Company also operates a
solar wafer manufacturing facility in Chongqing, China.
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,
the quotations from management in this announcement, as well as
Daqo New Energy's strategic and operational plans, contain
forward-looking statements. The Company may also make written or
oral forward-looking statements in its reports filed with 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; and the Company's ability to lower its
production costs. Further information regarding these and other
risks is included in the reports or documents the Company has filed
with, or furnished to, the Securities and Exchange Commission. Daqo
New Energy does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
All information provided in this press release is as of the date of
this press release, and Daqo New Energy undertakes no duty to
update such information, except as required under applicable
law.
For further information, please contact:
Daqo New Energy Corp.
Kevin He, Investor Relations
Phone: +86-187-1658-5553
Email: kevin.he@daqo.com
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SOURCE Daqo New Energy Corp.