SHANGHAI, May 12, 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, today announced that its subsidiary Xinjiang
Daqo New Energy had signed long-term high-purity polysilicon supply
agreements with a subsidiary of JA Solar (SZ:002459).
Under the supply agreement with JA Solar, Daqo New Energy will
provide JA Solar with high-purity mono-grade polysilicon in a total
amount of approximately 78,200 MT
between July 2021 and December 2025. Actual volume and prices will be
negotiated monthly by both parties according to market conditions.
As part of the supply agreement, JA Solar will make an advance
payment to Daqo New Energy.
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy,
commented, "We are very pleased to further strengthen our
cooperation with JA Solar, a leading company of high-quality and
high-efficiency solar PV products and solutions. With our Phase
4B project expected to come online in
Q1 2022, we will enter another growth phase and be able to provide
more ultra-high purity polysilicon to the market. We look forward
to continuing to work together with our customers to provide more
first-class products and solutions to the fast-growing global solar
PV market."
About JA Solar
JA Solar is a manufacturer of high-performance photovoltaic
products. With 12 manufacturing bases and more than 20 branches
around the world, the company's business covers silicon wafers,
cells, modules and photovoltaic power stations. JA Solar products
are available in 135 countries and regions and are used extensively
in ground-mounted power plants, commercial & industrial rooftop
PV systems and residential rooftop PV systems. With its advantages
of continuous technological innovation, sound financial
performance, and well-established global sales and service
networks, JA Solar has been well received and highly recognized by
clients from home and abroad. The company has been listed on
Fortune China 500 and Global Top 500 New Energy Enterprises for
several consecutive years.
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. It has a
total annual capacity of 70,000 metric tons of high-purity
polysilicon, with another 35,000 metric tons polysilicon capacity
under construction expected to reach full capacity by the end of
first quarter of 2022.
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. 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.
For further information, please contact:
Daqo New Energy Corp.
Investor Relations Department
Phone: +86-187-1658-5553
Email: dqir@daqo.com
Christensen
In China
Mr. Rene Vanguestaine
Phone: +86 178 1749 0483
E-mail: rvanguestaine@christensenir.com
In the U.S.
Mr. Tip Fleming
Phone: +1-917-412-3333
Email: tfleming@Christensenir.com
For more information, please visit www.dqsolar.com
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SOURCE Daqo New Energy Corp.