Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a
leading polysilicon manufacturer based in China, today announced its
chief executive officer, Dr. Gongda Yao, received "2011 Chongqing
Friendship Award" from Chongqing municipal government. This award was
established in 2002 as the highest award to recognize foreign experts'
contribution to the city. Mr. Qifan Huang, Mayor of Chongqing City and
Mr. Zhengqi Ma, Executive Vice Mayor, attended the ceremony and
presented the 10th annual awards to the laureates.
"The Chongqing Friendship Award is to recognize foreign experts, as top
ranking talents in his or her own fields and positions, who have made
great contributions to build up bridges of friendship among Chongqing
City and the rest of the world," commented Mr.Qifan Huang, Mayor of
Chongqing City. "Dr. Yao has been successfully leading Daqo New Energy
to outperform in the fierce competition in global solar PV market and
therefore develop into one of the most competitive solar companies in
Since Daqo New Energy commenced polysilicon production in 2008, the
Company has been committed to continuously improve quality, lower cost
and enhance capacity. Presently, Daqo's quality of polysilicon is among
the best in class globally and its production cost is also competitive
among the first-tier polysilicon manufacturers in China. Upon the
completion of Phase II polysilicon project in Xinjiang, Daqo is expected
to achieve 7,300MT capacity per annum with a world-class cost structure
by the end of 2012.
"It's a great honor to receive Chongqing Friendship Award. We cannot
attain the achievement without employees' effort and the great
investment and work environment provided by Chongqing
government,"commented Dr. Yao, Chief Executive Officer of the Company.
"The award represents a recognition to the success in the past as well
as an expectation for the future. We will continue our effort in
technology innovation and efficient operation to deliver solar PV
products with higher quality and lower cost, so as to create better
opportunities for local employment and contribute more to the economy in
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) is a leading polysilicon manufacturer
based in China that aims to become a vertically integrated photovoltaic
product manufacturer. Daqo New Energy primarily manufactures and sells
high-quality polysilicon to photovoltaic product manufacturers. It also
manufactures and sells photovoltaic wafers and modules. For more
information about Daqo New Energy, please visit www.dqsolar.com.
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; our ability to significantly expand our polysilicon
production capacity and output; the reduction in or elimination of
government subsidies and economic incentives for solar energy
applications; and our ability to successfully implement our vertical
integration strategy. Further information regarding these and other
risks is included in the reports or documents we have filed with, or
furnished to, the Securities and Exchange Commission. Daqo New Energy
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law. All information
provided in this press release and in the attachments is as of the date
of this press release, and Daqo New Energy undertakes no duty to update
such information, except as required under applicable law.
Daqo New Energy Corp.
Kevin He, Investor Relations