SC 13G

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No.      )*

Daqo New Energy Corp.

(Name of Issuer)

American Depository Shares (ADS)
Each Representing Five Ordinary Shares, par value $0.0001 per share

(Title of Class of Securities)

23703Q 10 4

(CUSIP Number)

December 31, 2010

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     o Rule 13d-1(c)

     þ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Granite Global Ventures III L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware, United States of America
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	PN

(1) This statement on Schedule 13G is filed by Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., Granite Global Ventures III L.L.C., Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin (collectively, the “Reporting Persons”). The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of American Depository Shares (“ADS”) representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 2

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS GGV III Entrepreneurs Fund L.P.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware, United States of America
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	PN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 3

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Granite Global Ventures III L.L.C.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware, United States of America
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 4

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Scott B. Bonham
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Canada
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 5

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Hany M. Nada
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States of America
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 6

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Thomas K. Ng
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States of America
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 7

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Jixun Foo
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Singapore
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 8

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Glenn Solomon
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States of America
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 9

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Jenny Lee
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Singapore
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Page 10

CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Fumin Zhuo
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	People’s Republic of China
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

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CUSIP No. 23703Q 10 4 

1	NAMES OF REPORTING PERSONS Jessie Jin
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a)   o
	(b)   þ (1)
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	People’s Republic of China
		5	SOLE VOTING POWER
NUMBER OF			0 shares
SHARES		6	SHARED VOTING POWER
BENEFICIALLY
OWNED BY			2,377,128 ADS representing 11,885,640 ordinary shares (2)
EACH		7	SOLE DISPOSITIVE POWER
REPORTING
PERSON			0 shares
WITH:		8	SHARED DISPOSITIVE POWER
			2,377,128 ADS representing 11,885,640 ordinary shares (2)
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,377,128 ADS representing 11,885,640 ordinary shares (2)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	o
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	6.8%(3)
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

(1) This statement on Schedule 13G is filed by the Reporting Persons. The Reporting Persons expressly disclaim status as a “group” for purposes of this Schedule 13G.

(2) Consists of (i) 2,339,094 shares of ADS representing 11,695,470 ordinary shares held by Granite Global Ventures III L.P. and (ii) 38,034 shares of ADS representing 190,170 ordinary shares held by GGV III Entrepreneurs Fund L.P. In addition, Granite Global Ventures III L.P. holds 1 ordinary share (representing a fractional 0.2 ADS). Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.

(3) This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

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CUSIP No. 23703Q 10 4 

Introductory Note: This statement on Schedule 13G is filed on behalf of the Reporting Persons, in respect of ADS of Daqo New Energy Corp. (the “Issuer”). Each ADS represents 5 ordinary shares, par value $0.0001 per share, of the Issuer.

Item 1(a). Name of Issuer:

Daqo New Energy Corp.

Item 1(b). Address of Issuer’s Principal Executive Officers:

666 Longdu Avenue
Wanzhou, Chongqing 404000
People’s Republic of China

Item 2(a). Name of Person(s) Filing:

Granite Global Ventures III L.P.
GGV III Entrepreneurs Fund L.P.
Granite Global Ventures III L.L.C.
Scott B. Bonham
Hany M. Nada
Thomas K. Ng
Jixun Foo
Glenn Solomon
Jenny Lee
Fumin Zhuo
Jessie Jin

Item 2(b). Address of Principal Business Office:

GGV Capital
2494 Sand Hill Road, Suite 100
Menlo Park, California 94025
United States of America

Item 2(c). Citizenship or Place of Organization:

Name	Citizenship or Place of Organization
1. Granite Global Ventures III L.P.	Delaware, United States of America
2. GGV III Entrepreneurs Fund L.P.	Delaware, United States of America
3. Granite Global Ventures III L.L.C.	Delaware, United States of America
4. Scott B. Bonham	Canada
5. Hany M. Nada	United States of America
6. Thomas K. Ng	United States of America
7. Jixun Foo	Singapore
8. Glenn Solomon	United States of America
9. Jenny Lee	Singapore
10. Fumin Zhuo	People’s Republic of China
11. Jessie Jin	People’s Republic of China

Page 13

CUSIP No. 23703Q 10 4 

Item 2(d). Title of Class of Securities:

American Depository Shares. Each American Depository Share represents 5 ordinary shares, par value $0.0001 per share, of the Issuer.

Item 2(e). CUSIP Number:

23703Q 10 4

Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a:

Not applicable.

Item 4(a). Amount Beneficially Owned:

Item 4(b). Percent of Class:

Item 4(c). Number of shares as to which such persons have:

The following information with respect to the ownership of the ADS of the Issuer by the Reporting Persons filing this statement on Schedule 13G as of December 31, 2010:

			Sole		Shared		Sole
			Voting		Voting		Dispositive		Shared Dispositive		Beneficial		Percentage of Class
Reporting Persons	Shares Held Directly		Power		Power (1)		Power		Power (1)		Ownership (1)		(1, 3)
Granite Global Ventures III L.P.		2,339,094		0		2,377,128		0		2,377,128		2,377,128		6.8	%
GGV III Entrepreneurs Fund L.P.		38,034		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Granite Global Ventures III L.L.C.		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Scott B. Bonham		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Hany M. Nada		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Thomas K. Ng		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Jixun Foo		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Glenn Solomon		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Jenny Lee		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Fumin Zhuo		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%
Jessie Jin		0		0		2,377,128		0		2,377,128		2,377,128		6.8	%

(1)	Represents the number of ADS currently held by the Reporting Persons.
(2)	Granite Global Ventures III L.L.C. serves as the General Partner of Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. As such, Granite Global Ventures III L.L.C. possesses power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Granite Global Ventures III L.L.C. owns no securities of the Issuer directly. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin are Managing Directors of Granite Global Ventures III L.L.C. As such, Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin possess power to direct the voting and disposition of the shares owned by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. and may be deemed to have indirect beneficial ownership of the shares held by Granite Global Ventures III L.P. and GGV III Entrepreneurs Fund L.P. Scott B. Bonham, Hany M. Nada, Thomas K. Ng, Jixun Foo, Glenn Solomon, Jenny Lee, Fumin Zhuo and Jessie Jin own no securities of the Issuer directly.
(3)	This percentage is calculated based upon 35,143,000 ADS (representing 175,715,000 ordinary shares) of the Issuer outstanding as set forth in the Issuer’s FORM 424(B)(4), filed with the Securities and Exchange Commission on October 7, 2010.

Item 5. Ownership of Five Percent or Less of a Class:

If this statement is being filed to report the fact that as of the date hereof, the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following: o

Page 14

CUSIP No. 23703Q 10 4 

Item 6. Ownership of More Than Five Percent on Behalf of Another Person:

Not applicable.

Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company:

Not applicable.

Item 8. Identification and Classification of Members of the Group:

Not applicable.

Item 9. Notice of Dissolution of Group:

Not applicable.

Item 10. Certification:

Not applicable.

Page 15

CUSIP No. 23703Q 10 4 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 2, 2011

GRANITE GLOBAL VENTURES III L.P. GGV III ENTREPRENEURS FUND L.P. BY: GRANITE GLOBAL VENTURES III L.L.C. ITS: GENERAL PARTNER
By:	/s/ Hany M. Nada
	Hany M. Nada
	Managing Director

GRANITE GLOBAL VENTURES III L.L.C.
By:	/s/ Hany M. Nada
	Hany M. Nada
	Managing Director
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Scott B. Bonham
/s/ Hany M. Nada
Hany M. Nada
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Thomas K. Ng
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Jixun Foo
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Glenn Solomon
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Jenny Lee
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Fumin Zhuo
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Jessie Jin

Exhibit(s):

Exhibit 99.1:	Joint Filing Statement
Exhibit A:	Power of Attorney

Page 16

EX-99.1

Exhibit 99.1

AGREEMENT

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of ADS of Daqo New Energy Corp.

Dated: February 2, 2011

GRANITE GLOBAL VENTURES III L.P. GGV III ENTREPRENEURS FUND L.P. BY: GRANITE GLOBAL VENTURES III L.L.C. ITS: GENERAL PARTNER
By:	/s/ Hany M. Nada
	Hany M. Nada
	Managing Director

GRANITE GLOBAL VENTURES III L.L.C.
By:	/s/ Hany M. Nada
	Hany M. Nada
	Managing Director
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Scott B. Bonham
/s/ Hany M. Nada
Hany M. Nada
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Thomas K. Ng
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Jixun Foo
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Glenn Solomon
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Jenny Lee
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Fumin Zhuo
/s/ Hany M. Nada
Hany M. Nada as Attorney-in-fact for Jessie Jin

Page 17

EX-99.2

Exhibit A

POWER OF ATTORNEY

Page 18

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 8^th day of October, 2010.

/s/ Scott B. Bonham  

Scott B. Bonham 

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 7^th day of October, 2010.

/s/ Hany M. Nada  

Hany M. Nada 

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 7^th day of October, 2010.

/s/ Thomas K. Ng  

Thomas K. Ng 

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 10^th day of October, 2010.

/s/ Jixun Foo  

Jixun Foo 

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 7^th day of October, 2010.

/s/ Glenn Solomon  

Glenn Solomon 

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 10^th day of October, 2010.

/s/ Jenny Lee  

Jenny Lee 

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 13^th day of October, 2010.

/s/ Fumin Zhuo  

Fumin Zhuo 

POWER OF ATTORNEY
(For Executing Form ID, Forms 3, 4 and 5 and Schedules 13D and 13G)

Know all by these presents, that the undersigned hereby constitutes and appoints each of Hany M. Nada, Stephen A. Hyndman, Scott B. Bonham and Glenn Solomon, signing individually, the undersigned’s true and lawful attorneys-in-fact and agents to:

(i)	prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the Securities and Exchange Commission a Form ID, including amendments thereto, and any other documents necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the Securities and Exchange Commission of reports required by Section 13(d) and Section 16(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or any rules or regulations promulgated thereunder;
(ii)	prepare, execute and file, for and on behalf of the undersigned with respect to holdings of and transactions in securities issued by a company to the undersigned or Granite Global Ventures III L.P., GGV III Entrepreneurs Fund L.P., GGV III Delaware L.L.C. and Granite Global Ventures III L.L.C., any and all documents and filings that are required or advisable to be made with the United States Securities and Exchange Commission, any stock exchange or similar authority, under the Exchange Act, including without limitation (a) any Joint Filing Agreement under Rule 13d-1(k) of the Exchange Act (or any successor provision thereunder), Schedule 13D and Schedule 13G (or any successor schedules or forms adopted under the Exchange Act) and any amendments thereto in accordance with Section 13 of the Exchange Act and the rules thereunder, and (b) Forms 3, 4 and 5 and any amendments thereto in accordance with Section 16(a) of the Exchange Act and the rules thereunder; and
(iii)	take any other action of any nature whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact’s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact in serving in such capacity at the request of the undersigned, are not assuming, nor is GGV Capital assuming, any of the undersigned’s responsibilities to comply with the Exchange Act, including without limitation Sections 13 and 16 of the Exchange Act.

This Power of Attorney shall remain in full force and effect until the earliest to occur of (a) the undersigned is no longer required to file any form or document with respect to the undersigned’s holdings of and transactions in securities issued by a company, (b) revocation by the undersigned in a signed writing delivered to the foregoing attorney-in-fact or (c) as to any attorney-in-fact individually, until such attorney-in-fact shall no longer be employed by GGV Capital.

I hereby declare that any act or thing lawfully done hereunder by the foregoing attorneys-in-fact shall be binding on the undersigned as if done by myself.

In Witness Whereof, the undersigned has cause this Power of Attorney to be executed as of this 13^th day of October, 2010.

/s/ Jessie Jin  

Jessie Jin