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Daqo New Energy Corp. Revises Shipment Guidance For Third Quarter 2013

Stocks in this article: DQ

CHONGQING, China, Nov. 4, 2013 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading polysilicon manufacturer based in China, today revised its shipment guidance for the third quarter of 2013.

For the third quarter of 2013, the Company expects its polysilicon shipment to be in the range of 1,200 MT to 1,275 MT, compared to a prior guidance of 1,000 MT. The Company expects its wafer shipment to be in the range of 7.4 to 7.5 million pieces, compared to a prior guidance of 8.9 million pieces. The Company also expects its shipment of multi-crystal silicon ingots and blocks to be in the range of 6.5 to 6.6 MT, compared to a prior guidance of 6.8 MT.

"We see a stronger demand for polysilicon in the third quarter of 2013 than our expectation. We believe our polysilicon product is differentiated by its high quality which is key to improve cell efficiency," says Dr. Gongda Yao, Chief Executive Officer of the Company. "We lowered our guidance for wafer shipment due to some delay in shipping by the end of the third quarter of 2013. Nevertheless, we still reaffirm our target to ramp-up our wafer capacity to 6 million pieces per month by the end of this year."

About Daqo New Energy Corp.

Daqo New Energy Corp. (NYSE: DQ) is a leading polysilicon manufacturer based in China. Daqo New Energy primarily manufactures and sells high-quality polysilicon to photovoltaic product manufacturers. It also manufactures and sells photovoltaic wafers. 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," "target" and similar statements. Among other things, the revisions to the outlook for the third quarter of 2013 and quotations from management in this announcement contain forward-looking statements. The Company may also make written or oral forward-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; our ability to ramp-up our wafer production capacity; and the reduction in or elimination of government subsidies and economic incentives for solar energy applications. 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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