SHANGHAI, Nov. 30,
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 subsidiaries had signed two long-term high-purity polysilicon supply
agreements with LONGi Green Energy (including its subsidiaries)
("LONGi") and another solar manufacturing company in China, respectively.
Under the supply agreement with LONGi, Daqo New Energy's
subsidiary Inner Mongilia Daqo will provide LONGi with a total
amount of 251,280 MT high-purity mono-grade polysilicon from
May 2023 to December 2027. Actual prices will be negotiated
by both parties monthly according to market conditions.
Under the supply agreement with another solar manufacturing
company, Xinjiang Daqo and Inner Mongolia
Daqo will provide it with 27,600
MT high-purity mono-grade polysilicon from
January 2023 to December 2027. Actual prices will be negotiated
by both parties monthly according to market conditions.
Mr. Longgen Zhang, chief executive officer of Daqo New Energy,
commented, "We are always aiming to better serve our downstream
customers with the best-in-class high quality polysilicon products
to facilitate the progress of continuous improvement in conversion
efficiency. We expect the next generation of N-type cell technology
will increase its market share rapidly in the next two to three
years which will provide an opportunity to high-quality polysilicon
providers to outperform among the
peers."
About Daqo New Energy
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. Among other things,
the quotations from management in this announcement, as well as the
Company's strategic and operational 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. 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.