Daqo New Energy Corp. (China)

The Company is a high-purity polysilicon manufacturer based in China.
BUSINESS
The Company is a high-purity polysilicon manufacturer based in China. The Company utilize the chemical vapor deposition process, or the “modified Siemens process,” with upgraded Hydrochlorination technology, to produce polysilicon, and have fully implemented the closed loop system to produce high-quality polysilicon cost-effectively. The Company manufacture and sell high-purity polysilicon to photovoltaic product manufacturers, who further process its polysilicon into ingots, wafers, cells and modules for solar power solutions. Currently, our annual capacity for polysilicon is 70,000 MT in Xinjiang. The Company improve its production efficiency and increase its output through technological improvements, adoption of process innovation and refinement as well as equipment enhancement. Actual production volume may exceed the production capacity due to operational improvements the Company may implement at its facilities in response to market conditions.
The Company manufacture and sell high-purity polysilicon to photovoltaic product manufactures, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. It offer ready-to-use polysilicon, packaged to meet crucible stacking, pulling, and solidification needs.
The Company has only one reportable segment - Polysilicon.
HISTORY
2007 The Company was incorporated on November 22, 2007 in the Cayman Islands.
2009 The Company changed its corporate name to Daqo New Energy Corp. in August 2009.
2011 Chongqing Daqo and Xinjiang Daqo were incorporated by the Company on January 14, 2008 and February 22, 2011, respectively, in the Peoples' Republic of China (“PRC”). Xinjiang Daqo Investment was incorporated by Daqo Group Co, Ltd. (“Daqo Group”), the Company's ultimate parent company, on March 10, 2011. Xinjiang Daqo Investment was acquired by Xinjiang Daqo in December 2018 and therefore became the Group's wholly-owned subsidiary.
2010 On October 7, 2010, The Company listed its ADSs, each representing five ordinary shares of Daqo New Energy Corp., on the NYSE under the symbol “DQ” in connection with an initial public offering.
In October 2019, the Company incorporated Xinjiang Daqo Guodi, a wholly owned subsidiary, in Shihezi Economic Development Area in Xinjiang Autonomous Region, China. The subsidiary primarily focuses on research and development related to polysilicon manufacturing.
In November 2019, Xinjiang Daqo Lvchuang was incorporated, which is 70 owned by Xinjiang Daqo and 30 owned by a third party company.
2020 In March 2020, Daqo New Energy (Hong Kong) Co., Limited, its wholly owned subsidiary, was incorporated in the Hong Kong Special Administrative Region, China. The subsidiary primarily focuses on development of business and investment for the Company.
In June 2020, the Company announced its strategic plan to complete a listing of shares of its principal operating subsidiary, Xinjiang Daqo, on the Shanghai Stock Exchange's Sci-Tech innovation board, known as the STAR Market.
On November 17, 2020, the Company effected a change of the ADS-to-ordinary-share ratio from one (1) ADS representing twenty-five (25) ordinary shares to one (1) ADS representing five (5) ordinary shares.
2021 The subsidiary primarily focuses on the recycling and sales of polysilicon by-product, which was in the start-up stage as of December 31, 2021.