SHANGHAI, March 5, 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 signed a three-year
high-purity polysilicon supply agreement with Wuxi Shangji
Automation (SSE:603158) ("Shangji"), a leading high-end intelligent
equipment provider for manufacturing industries including the solar
PV industry. Shangji started its mono-wafer manufacturing business
in 2019 and has quickly been recognized as a high-quality
mono-wafer provider.
Under the supply agreement, Daqo New Energy will provide Shangji
with high-purity mono-grade polysilicon in a total amount of
52,700 MT between July 2021 and June
2024. Actual prices will be negotiated by both parties
monthly according to market conditions. As part of the supply
agreement, Shangji will make an advance payment to Daqo New
Energy.
Mr. Jianliang Yang, Chairman of
Wuxi Shangji Automation, commented, " We are very pleased to
further strengthen our strategic partnership with Daqo New Energy
through this second long-term polysilicon contract between us. We
will continue to expand our mono-wafer capacity with advanced
technology to better serve the fast-growing solar PV market."
Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy,
commented, "Shangji Automation is one of our key customers with a
visionary strategy and very strong execution track record in the
mono-wafer sector. We will continue to work closely with Shangji by
providing first-class polysilicon products and assist them to
better execute their capacity expansion plans."
About Wuxi Shangji Automation
Wuxi Shangji Automation Co., Ltd. (SSE:603185), established in
2002, is a leading high-tech intelligent equipment and technology
provider specialized in the R&D, design, integration,
manufacturing and service of the cutting process of solar
PV, sapphire and semiconductor
materials. In 2019, Wuxi Shangji started its business in R&D
and manufacturing of mono wafer, which is an intermediate product
of widely used high-efficiency mono-crystalline solar PV
modules.
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 an annual
polysilicon nameplate 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. 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.