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, won “2011 Ernst & Young China Entrepreneur of The Year” award in the category of “Emerging Entrepreneur.” “Ernst & Young China Entrepreneur of The Year” is a business awards program to recognize visionary and inspiring leaders who are shrewd and capable to seize opportunities.
Since Daqo New Energy commenced polysilicon production in 2008, the Company has been committed to continuously improve quality, lower cost and enhance capacity. With the announced Phase II project in Xinjiang and Hydrochlorination project in Wanzhou, Daqo is expected to achieve 12,000MT capacity per annum with world class cost structure by the end of 2012. Daqo has also selectively built up downstream capacities of wafer and module.
“I am very honored to be granted this award which is not only a reward to my personal achievement, but also, more importantly a recognition to the Company’s success,” said Dr. Gongda Yao, “We will continue leverage our advantages on efficient operation, optimized technology and integrated industry chain to deliver PV products with higher efficiency and lower cost. I believe with all the innovation and endeavor from partners in solar PV industry, it won’t take long to achieve grid parity.”
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. The Company may also make written or oral for-ward-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.
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