Daqo New Energy Announces Initial Production at Its New Phase 3A Polysilicon Facility in Xinjiang to Increase Polysilicon Capacity to 18,000 MT Per Annum

Daqo New Energy Corp., a leading manufacturer of high-purity polysilicon for the global solar PV industry, recently announced that it has commenced initial production at the Phase 3A polysilicon facility located on its Xinjiang polysilicon manufacturing site. All the construction and installation work related to Phase 3A was completed by the end of 2016. With the new Phase 3A facility having started initial production, the Company expects to reach a full production run rate of 18,000 MT per annum at its Xinjiang polysilicon facilities by the end of the first quarter of 2017.

“We are very excited to have successfully completed the Phase 3A project and commenced initial production at this new facility ahead of schedule. We expect to reach full production throughput by the end of the first quarter of 2017, months ahead of our original schedule. In addition, we have achieved the highest capital expenditure efficiency in the Company’s history of polysilicon capacity expansion by reutilizing idle machinery and equipment in Chongqing and leveraging existing shared facilities in Xinjiang,” commented Dr. Gongda Yao, Chief Executive Officer of Daqo New Energy. “In addition, with technology upgrades, equipment addition, and process improvement, we anticipate we will achieve further cost reduction and quality improvement, which will help us better serve customer demand, especially from the high-end markets such as high-efficiency mono crystalline wafer.”