Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
December 13 2023 - 6:45AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of December 2023
Commission File Number: 001-34602
DAQO NEW ENERGY CORP.
Unit 29D, Huadu Mansion, 838 Zhangyang Road,
Shanghai, 200122
The People’s Republic of China
(+86-21) 5075-2918
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b) (1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b) (7): ¨
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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DAQO NEW ENERGY CORP. |
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By: |
/s/ Xiang Xu |
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Name: |
Xiang Xu |
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Title: |
Chairman of the Board of Directors and Chief Executive Officer |
Date: December 13, 2023 |
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Exhibit 99.1
Daqo New Energy’s Subsidiary Xinjiang
Daqo Announces Investment Agreement to Establish Polysilicon and Silicon Metal Project to Integrate Upstream Supply
Shanghai, China—December 13, 2023—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 has signed an investment agreement to
create a silicon-based new materials industrial park. Located in Shihezi, China, the project covers two phases. The first phase of the
project consists of 150,000MT of silicon metal production, 50,000MT of polysilicon, and 1.2 million pieces of silicon seed rod, with an
anticipated investment of approximately RMB7.5 billion. The second phase of the project consists of 150,000MT of silicon metal production,
50,000MT of polysilicon, and 1.0 million pieces of silicon seed rod, with an anticipated investment of approximately RMB7.5 billion. The
implementation of this project, as well as its construction and completion time, is contingent upon market conditions, Xinjiang Daqo’s
shareholder approval, as well as relevant government filings and approvals, including energy consumption approval. Based on the agreement,
the project is expected to receive green electricity as well as renewable energy green power certificates.
Mr. Xiang Xu, CEO of Daqo New Energy, commented,
“We are delighted to announce our latest expansion plan that will allow us to leverage Shihezi’s advantages in rich natural
resources and attractive electricity rates that are unmatched by any other location. In particular, the silicon metal project is strategically
important to the Company’s ability to deliver sustainable growth. Integrating our upstream supply will enhance our competitive advantages
in cost and quality, as well as minimize raw materials price fluctuations. Furthermore, with the ability to oversee and control the upstream
process, we will be able to satisfy our supply chain due diligence and traceability requirements, which we believe are key to our future
competitiveness. After the completion of both phases, the Company expects to produce all silicon metal raw material that it needs. We
are confident that the upstream supply chain integration will enable us to capture additional market opportunities and strengthen our
leadership position in the polysilicon industry.”
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 205,000 metric
tons and is one of the world's lowest cost producers of high-purity polysilicon.
For more information, please visit www.dqsolar.com.
For additional information, please contact:
Daqo New Energy Corp.
Investor Relations
Email: ir@daqo.com
Christensen
In China
Mr. Rene Vanguestaine
Phone: +86 178 1749 0483
Email: rene.vanguestaine@christensencomms.com
In the U.S.
Ms. Linda Bergkamp
Phone: +1 480 614 3004
Email: lbergkamp@christensencomms.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,” “might,”
“guidance” and similar statements. Among other things, the outlook for the first half of 2023, 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 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; and changes in the political and
regulatory environment. Further information regarding these and other risks is included in the reports or documents that 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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