Daqo New Energy Corp. was incorporated in Cayman Islands as Mega Stand International Limited in November 2007. It changed its corporate name to Daqo New Energy Corp. in August 2009. The Company is a polysilicon manufacturer based in China. It has expanded to the downstream photovoltaic manufacturing businesses to establish facilities for wafer and module manufacturing. It manufactures and sells polysilicon to photovoltaic product manufacturers, who further process its polysilicon into ingots, wafers, cells and modules for solar power solutions. It offers ready-to-use polysilicon, packaged to meet crucible stacking, pulling, and solidification needs. In addition, it also offers wafers and modules through its downstream photovoltaic product manufacturing businesses. The Company's competitors includes international polysilicon and wafer manufacturers, such as Hemlock, Wacker, OCI, REC, MEMC, Green Energy Technology and Sino-American Silicon and Chinese domestic polysilicon and wafer manufacturers, such as GCL-Poly, TBEA, China Silicon Corporation, Sichuan Xinguang Silicon Science and Technology, LDK Solar, ReneSola, JinkoSolar and Comtec Solar Systems. The Company is subject to a variety of specific laws and regulations in China related to the storage, use and disposal of hazardous materials, including laws and regulations governing water pollution, air pollution, solid waste pollution, noise pollution, hazardous chemicals, pollutant discharge fees and environmental impact appraisals.