Daqo New Energy's Subsidiaries Announce Five-Year High-Purity Polysilicon Supply Agreement with a leading Solar Manufacturing Company in China

SHANGHAI, Nov. 7, 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 Xinjiang Daqo and Inner Mongolia Daqo had signed a five-year high-purity polysilicon supply agreement with a leading solar manufacturing company in China.

Under the supply agreement, Xinjiang Daqo and Inner Mongolia Daqo will provide this leading manufacturing company with a total amount of 137,000 MT high-purity mono-grade polysilicon from November 2022 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 very pleased to sign this long-term contract with a leading solar manufacturing company in China. It's the fourth long-term contract we signed with our customers in the fourth quarter of 2022 and it demonstrates our leadership in the polysilicon industry as a reliable and preferred supplier for many top-tier Chinese solar manufacturers. As we expect to complete our Inner Mongolia project in the second quarter of 2023, which will increase our capacity significantly from the current 105,000 MT to 205,000 MT, we will be able to better serve our customers with increasing production volume and higher product quality."

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