Daqo New Energy’s Subsidiary Xinjiang Daqo Proposes Cash Dividend Plan for 2021 to Its Annual Shareholders’ Meeting For Approval

Mar 15, 2022

Shanghai,China—March 15, 2022—Daqo New Energy Corp. (NYSE: DQ) ("Daqo NewEnergy", the "Company" or "we"), a leadingmanufacturer of high-purity polysilicon for the global solar PV industry, todayannounced that its subsidiary Xinjiang Daqo’s board of directors had approvedits cash dividend plan for 2021 and proposed it to Xinjiang Daqo’s annual shareholders’meeting for approval on April 7, 2022.

Forthe year ended December 31, 2021, the net profit attributable to Xinjiang Daqo’sshareholders wasRMB 5,723,842,382.Xinjiang Daqo’s board of directors has approved the plan to pay cash dividend toXinjiang Daqo’s shareholders (including Daqo New Energy) in the aggregate amountof RMB 1,155,000,000,which accounts for 20.18% of the net profit attributable toXinjiang Daqo’s shareholders in 2021. This plan stillneeds to be submitted to Xinjiang Daqo’s annual shareholders meeting forapproval on April 7, 2022. As of the date of this press release, Daqo NewEnergy beneficially owns 80.7% of the equity interest in Xinjiang Daqo.

About Daqo New Energy Corp.

Daqo New Energy Corp.(NYSE: DQ) (“Daqo” or the “Company”) is a leading manufacturer of high-puritypolysilicon for the global solar PV industry. Founded in 2007, the Companymanufactures and sells high-purity polysilicon to photovoltaic productmanufactures, who further process the polysilicon into ingots, wafers, cellsand modules for solar power solutions. The Company has a total polysiliconnameplate capacity of 105,000 metric tons and is one of the world's lowest costproducers of high-purity polysilicon.

Formore information, please visit www.dqsolar.com

Safe Harbor Statement

This announcement containsforward-looking statements. These statements are made under the “safe harbor”provisions of the U.S. Private Securities Litigation Reform Act of 1995. Theseforward-looking statements can be identified by terminology such as “will,”“expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,”“might,” “guidance” and similar statements. Among other things, statementsabout the Company’s plan to distribute dividends contain forward-lookingstatements. The Company may also make written or oral forward-lookingstatements in its reports filed or furnished to the U.S. Securities andExchange Commission, in its annual reports to shareholders, in press releasesand other written materials and in oral statements made by its officers,directors or employees to third parties. Statements that are not historicalfacts, including statements about the Company’s beliefs and expectations, areforward-looking statements. Forward-looking statements involve inherent risksand uncertainties, all of which are difficult or impossible to predictaccurately and many of which are beyond the Company’s control. A number of factors could cause actualresults to differ materially from those contained in any forward-lookingstatement, including but not limited to the following: the demand forphotovoltaic products and the development of photovoltaic technologies; globalsupply and demand for polysilicon; alternative technologies in cellmanufacturing; the Company’s ability to significantly expand its polysiliconproduction capacity and output; the reduction in or elimination of governmentsubsidies and economic incentives for solar energy applications; the Company’sability to lower its production costs; changes in the political and regulatoryenvironment; and the duration of COVID-19 outbreaks in Chinaand many other countries and the impact of the outbreaks and the quarantinesand travel restrictions instituted by relevant governments on economic andmarket conditions, including potentially weaker global demand for solar PVinstallations that could adversely affect the Company’s business and financialperformance. Further information regarding theseand other risks is included in the reports or documents the Company has filedwith, or furnished to, the U.S. Securities and Exchange Commission. Allinformation provided in this press release is as of the date hereof, and theCompany undertakes no duty to update such information or any forward-lookingstatement, except as required under applicable law.