Daqo New Energy Announces Three-Year High-Purity Polysilicon Supply Agreement with Zhonghuan Semiconductor

PVTIME - 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 has signed a three-year high-purity polysilicon supply agreement with Zhonghuan Semiconductor (SZ:002129) ("Zhonghuan") for its solar wafer business. Zhonghuan is a global leading high-quality mono-crystalline solar wafer producer.

Under the supply agreement, Daqo New Energy will provide Zhonghuan with high-purity mono-grade polysilicon in a total amount of 41,000 MT over three years from 2021 to 2023. Actual prices will be negotiated by both parties monthly according to market conditions. As part of the supply agreement, Zhonghuan will make an advance payment to Daqo New Energy.

Mr. Haoping Shen, Chief Executive Officer of Zhonghuan, commented, "We are very pleased to enter into a long-term partnership with Daqo New Energy who shares the same core values with us in terms of innovation and quality. This partnership will help us better execute our strategy as a leading solar products provider to serve the fast-growing global solar PV market."

Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy, commented, "We are very pleased to strengthen our cooperation with Zhonghuan through this three-year polysilicon supply agreement. We will continue to expand our capacity to better address the increasing demand for high-purity polysilicon and further improve product quality to accommodate innovative solar PV technologies in the future."