Daqo New Energy’s Subsidiary Xinjiang Daqo Obtained Its Shareholders’ Approval On The Cash Dividend Plan for 2021 – EQ Mag Pro
SHANGHAI : 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 subsidiary Xinjiang Daqo has obtained its shareholders’ approval on the cash dividend plan for 2021.
For the year ended December 31, 2021, the net profit attributable to Xinjiang Daqo’s shareholders was RMB5,723,842,382. Xinjiang Daqo has been approved at its shareholders’ meeting to pay cash dividend to Xinjiang Daqo’s shareholders (including Daqo New Energy) in the aggregate amount of RMB1,155,000,000, which accounts for 20.18% of the net profit attributable to Xinjiang Daqo’s shareholders in 2021. The actual payment is expected to take place no later than June 7, 2022. Daqo New Energy expects to receive cash dividend from Xinjiang Daqo in late Q2 or early Q3 subject to foreign exchange related procedures. As of the date of this press release, Daqo New Energy beneficially owns 80.7% of the equity interest in Xinjiang Daqo.
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 manufactures and sells high-purity polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 105,000 metric tons and is one of the world’s lowest cost producers of high-purity polysilicon.
