Daqo New Energy Announces Two-Year Framework Contract with Leading Solar PV Company

Daqo New Energy Corp.

today announced that its wholly owned subsidiary, Xinjiang Daqo New Energy Ltd. ("Xinjiang Daqo"), has signed a two-year spot-price polysilicon supply framework contract with a leading solar PV company. According to the terms of the agreement, Xinjiang Daqo will supply polysilicon on monthly basis beginning January 2014 through December 2015. The contract will account for approximately 20% of Xinjiang Daqo's polysilicon capacity in 2014, and 15% in 2015. The selling prices will be discussed and decided based on spot market prices at the time.