Daqo New Energy Signs 10,350 MT Polysilicon Supply Agreement with JinkoSolar
SHIHEZI, China: 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 had signed a one-year 10,350 MT polysilicon supply agreement with JinkoSolar Holding Co., Ltd. (“JinkoSolar”) (NYSE: JKS), a world-renowned solar module manufacturer.
Under the terms of the supply agreement, Daqo New Energy will supply JinkoSolar with 10,350 MT of polysilicon during calendar year 2019, with price to be determined on a monthly basis according to market pricing.
Mr. Shihua Su, Chief Marketing Officer of Daqo New Energy, commented, “We’re pleased to have signed this agreement with JinkoSolar which will further strengthen our relationship. JinkoSolar has been one of our strategic customers for many years. We will continue to support them by supplying our high quality polysilicon products and work together with them to meet the growing demand of the global solar PV markets.”
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. Among other things, the quotations from management in this announcement, as well as Daqo New Energy’s strategic and operational plans, contain forward-looking 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; and the Company’s ability to lower its production costs. Further information regarding these and other risks is included in the reports or documents that 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.
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is a world-renowned solar module manufacturer. JinkoSolar has over 12,000 employees across its 6 productions facilities globally. The company distributes its solar products and sells its solutions and services to a diversified international utility, commercial and residential customer base in more than 80 countries worldwide. JinkoSolar has built a vertically integrated solar product value chain, with an integrated annual capacity of 9.2 GW for silicon ingots and wafers, 6.5 GW for solar cells, and 10 GW for solar modules, as of September 30, 2018.
JinkoSolar has over 12,000 employees across its 6 productions facilities globally, 16 oversea subsidiaries in Japan (2), Singapore, India, Turkey, Germany, Italy, Switzerland, United States, Canada, Mexico, Brazil, Chile, Australia, South Africa and United Arab Emirates, and global sales teams in United Kingdom, Bulgaria, Greece, Romania, Jordan, Saudi Arabia, South Africa, Egypt, Morocco, Ghana, Kenya, Costa Rica, Colombia, Panama and Argentina.
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 2008, 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 Xinjiang, China currently has an annual polysilicon production capacity of 30,000 metric tons, and the Company is undergoing a debottlenecking project and a capacity expansion project and expects to increase its annual polysilicon production capacity to 70,000 metric tons in the first quarter of 2020.
Source: daqo
