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Daqo New Energy Announces Three-Year High-Purity Polysilicon Supply Agreement with Wuxi Shangji Automation

SHANGHAI, March 5, 2021 /PRNewswire/ -- 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 signed a three-year high-purity polysilicon supply agreement with Wuxi Shangji Automation (SSE:603158) ("Shangji"), a leading high-end intelligent equipment provider for manufacturing industries including the solar PV industry. Shangji started its mono-wafer manufacturing business in 2019 and has quickly been recognized as a high-quality mono-wafer provider.Under the supply agreement, Daqo New Energy will provide Shangji with high-purity mono-grade polysilicon in a total amount of 52,700 MT between July 2021 and June 2024. Actual prices will be negotiated by both parties monthly according to market conditions. As part of the supply agreement, Shangji will make an advance payment to Daqo New Energy. Mr. Jianliang Yang, Chairman of Wuxi Shangji Automation, commented, " We are very pleased to further strengthen our strategic partnership with Daqo New Energy through this second long-term polysilicon contract between us. We will continue to expand our mono-wafer capacity with advanced technology to better serve the fast-growing solar PV market."Mr. Longgen Zhang, Chief Executive Officer of Daqo New Energy, commented, "Shangji Automation is one of our key customers with a visionary strategy and very strong execution track record in the mono-wafer sector. We will continue to work closely with Shangji by providing first-class polysilicon products and assist them to better execute their capacity expansion plans."About Wuxi Shangji Automation
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