SHANGHAI, March 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, today announced that it has signed a three-year
high-purity polysilicon supply agreement with Zhonghuan
Semiconductor (SZ:002129) ("Zhonghuan") for its solar wafer
business. Zhonghuan is a global leading high-quality
mono-crystaline solar wafer producer.
Under the supply agreement, Daqo New Energy will provide
Zhonghuan with high-purity mono-grade polysilicon in a total amount
of 41,000 MT over three years from
2021 to 2023. Actual prices will be negotiated by both parties
monthly according to market conditions. As part of the supply
agreement, Zhonghuan will make an advance payment to Daqo New
Energy.
Mr. Haoping Shen, Chief Executive
Officer of Zhonghuan, commented, "We are very pleased to enter into
a long-term partnership with Daqo New Energy who shares the same
core values with us in terms of innovation and quality. This
partnership will help us better execute our strategy as a leading
solar products provider to serve the fast-growing global solar PV
market."
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy,
commented, "We are very pleased to strengthen our cooperation with
Zhonghuan through this three-year polysilicon supply agreement. We
will continue to expand our capacity to better address the
increasing demand for high-purity polysilicon and further improve
product quality to accommodate innovative solar PV technologies in
future."
About Zhonghuan Semiconductor
Tianjin Zhonghuan Semiconductor Co., Ltd.(Zhonghuan
Semiconductor) is a listed company of Shenzhen Stock Exchange
(stock code: 002129). Zhonghuan Semiconductor has been focused on
"green, low carbon and sustainable development" and dedicated to
two major industries, namely, semiconductor energy-saving and new
energy industries. Company products are widely used in smart grid
transmission, new energy vehicles, high-speed rail, wind power
inverters, integrated circuits, consumer electronics, aerospace,
solar power and other fields.
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 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 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.
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SOURCE Daqo New Energy Corp.