DAQO NEW ENERGY CORP.

DAQO NEW ENERGY CORP. is a leading high-purity polysilicon manufacturer based in China. The company produces polysilicon using the chemical vapor deposition process, also known as the "modified Siemens process," which incorporates upgraded Hydrochlorination technology. DAQO NEW ENERGY CORP. has fully implemented a closed-loop system to produce high-quality polysilicon cost-effectively. The company manufactures and sells high-purity polysilicon to photovoltaic product manufacturers. These manufacturers then process the polysilicon into ingots, wafers, cells, and modules for solar power solutions. As of the current reporting period, DAQO NEW ENERGY CORP.'s annual production capacity for polysilicon is 305,000 MT. This capacity includes 105,000 MT from its production facility in Xinjiang and 200,000 MT from its facility in Inner Mongolia. The company enhances production efficiency and output through technological improvements, process innovation, refinement, and equipment enhancement. DAQO NEW ENERGY CORP. commenced commercial production of wafers using its own polysilicon in July 2011. After discontinuing wafer manufacturing operations in Chongqing in September 2018, the company concentrated on its operations in Xinjiang in northwestern China and subsequently expanded to Inner Mongolia. The cost of doing business in western and northern China, particularly in Xinjiang and Inner Mongolia where its polysilicon facilities are located, offers advantages in electricity and raw material costs compared to coastal areas of China or developed countries. The company maintains rigorous quality control standards, systematically testing raw materials from suppliers and inputs at each manufacturing stage to meet technical specifications.