SHANGHAI, Feb. 2, 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, provided updates on the status of the proposed
initial public offering ("STAR Market IPO") and listing of the
shares of its subsidiary Xinjiang Daqo New Energy ("Xinjiang
Daqo").
During the 12th review meeting of 2021, the stock
listing committee of the Shanghai Stock Exchange STAR Market
reviewed Xinjiang Daqo's application and considered that Xinjiang
Daqo had met the offering, listing and disclosure requirements
related to its potential STAR Market IPO. As a next step, Xinjiang
Daqo will need to go through the registration process with the
China Securities Regulatory Commission before Xinjiang Daqo's STAR
Market IPO can take place.
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 is one of the
world's lowest cost producers of high-purity polysilicon. Daqo's
highly-efficient and technically advanced manufacturing facility in
China currently has a nameplate
annual polysilicon production capacity of 70,000 metric tons.
For more information, please visit http://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. Among other
things, Xinjiang Daqo's IPO plan contains 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.
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SOURCE Daqo New Energy Corp.