Daqo New Energy subsidiary to invest RMB 7.5B to create industrial park

Daqo New Energy announced that its subsidiary Xinjiang Daqo has signed an investment agreement to create a silicon-based new materials industrial park. Located in Shihezi, China, the project covers two phases. The first phase of the project consists of 150,000MT of silicon metal production, 50,000MT of polysilicon, and 1.2M pieces of silicon seed rod, with an anticipated investment of approximately RMB 7.5B. The second phase of the project consists of 150,000MT of silicon metal production, 50,000MT of polysilicon, and 1M pieces of silicon seed rod, with an anticipated investment of approximately RMB 7.5B. The implementation of this project, as well as its construction and completion time, is contingent upon market conditions, Xinjiang Daqo’s shareholder approval, as well as relevant government filings and approvals, including energy consumption approval. Based on the agreement, the project is expected to receive green electricity as well as renewable energy green power certificates.