0001104659-23-004857.txt : 20230119 0001104659-23-004857.hdr.sgml : 20230119 20230119090945 ACCESSION NUMBER: 0001104659-23-004857 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230119 FILED AS OF DATE: 20230119 DATE AS OF CHANGE: 20230119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DAQO NEW ENERGY CORP. CENTRAL INDEX KEY: 0001477641 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34602 FILM NUMBER: 23536072 BUSINESS ADDRESS: STREET 1: 666 LONGDU AVENUE CITY: WANZHOU, CHONGQING STATE: F4 ZIP: 404000 BUSINESS PHONE: (86-23) 6486-6666 MAIL ADDRESS: STREET 1: 666 LONGDU AVENUE CITY: WANZHOU, CHONGQING STATE: F4 ZIP: 404000 6-K 1 tm233893d1_6k.htm FORM 6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934

For the month of January 2023

Commission File Number: 001-34602

DAQO NEW ENERGY CORP.

Unit 29D, Huadu Mansion, 838 Zhangyang Road,

Shanghai, 200122

The People’s Republic of China

(+86-21) 5075-2918

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x

Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b) (1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b) (7): ¨

EXHIBIT INDEX

Number		Description of Document

Exhibit 99.1		Press release

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	DAQO NEW ENERGY CORP.

	By:	/s/ Longgen Zhang
	Name:	Longgen Zhang
	Title:	Director and Chief Executive Officer
Date: January 19, 2023

EX-99.1 2 tm233893d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

Daqo New Energy’s Subsidiary Xinjiang Daqo Provides Preliminary Estimates of Net Profit for 2022

Shanghai, China—January 19, 2023—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, announced that its subsidiary Xinjiang Daqo New Energy (“Xinjiang Daqo”) had provided estimate of its net profit in 2022 to the Shanghai Stock Exchange.

Xinjiang Daqo estimates that under PRC GAAP its net profit attributable to Xinjiang Daqo’s shareholders in 2022 would be in the range of RMB19.0~19.2 billion, representing a 231.9%~235.4% increase as compared to net profit attributable to Xinjiang Daqo’s shareholders of RMB5.7 billion in 2021. Xinjiang Daqo’s unaudited net profit attributable to its shareholders in the three quarters ended September 30, 2022 was RMB15.1 billion.

Daqo New Energy currently beneficially owns 72.7% of Xinjiang Daqo’s equity interest, and a majority of the Company's revenue and net income are contributed by Xinjiang Daqo. The estimated net profit described in this press release was prepared solely for Xinjiang Daqo in RMB in accordance with PRC GAAP and is subject to change upon completion of Xinjiang Daqo's internal financial closing and reporting process. In contrast, the Company's consolidated financial results for the year ended December 31, 2022 will be reported in U.S. dollars in accordance with U.S. GAAP.

The estimated profit described in this press release is based solely on the information currently available to Xinjiang Daqo’s management. Its actual result could vary materially from this preliminary estimate. As a result, investors should exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. The estimated net profit should not be viewed as a substitute for full financial statements of Xinjiang Daqo prepared in accordance with PRC GAAP. In addition, the estimated net profit is not necessarily indicative of the results to be achieved by Xinjiang Daqo in any future period.

About Daqo New Energy Corp.

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

For more information, please visit www.dqsolar.com

Daqo New Energy Corp.

Investor Relations

Email: dqir@daqo.com

Christensen

In China

Mr. Rene Vanguestaine

Phone: +86 178 1749 0483

rvanguestaine@christensenir.com

In the U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004

Email: lbergkamp@Christensenir.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,” “might,” “guidance” and similar statements. Among other things, the outlook for the full year of 2022, Daqo New Energy’s strategic and operational plans, 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, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. 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; the Company’s ability to significantly expand its polysilicon production capacity and output; the reduction in or elimination of government subsidies and economic incentives for solar energy applications; the Company’s ability to lower its production costs; changes in the political and regulatory environment; and the duration of COVID-19 outbreaks in China and many other countries and the impact of the outbreaks on economic and market conditions, including potentially weaker global demand for solar PV installations that could adversely affect the Company’s business and financial performance. Further information regarding these and other risks is included in the reports or documents the Company has filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date hereof, and the Company undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.