Daqo New Energy - Company News

Daqo New Energy Opens 200MW Photovoltaic Module Manufacturing Facility

NANJING, China, May 18, 2010 – Daqo New Energy Corp. (“Daqo New Energy”or the “Company”), a leading polysilicon manufacturer based in China, today held a ceremony to mark the official opening of its new 200MW photovoltaic module manufacturing facility in Nanjing, China. The ceremony was attended by Mr. Guangfu Xu, Chairman of the Board of Directors and Chairman of the Daqo Group, Mr. Xiang Xu, vice chairman of the Board of Directors and President of the Daqo Group, and management team members from the Daqo Group and Daqo New Energy.

Daqo New Energy started production of PV modules in the 20,000 square meter facility in May 2010. The facility is located within the Daqo Industrial Park in Jiangning Development Zone, Nanjing, Jiangsu, China, and is one of the most automated module manufacturing lines in China.

“It is a great honor and privilege to open our new 200MW photovoltaic module manufacturing facility,”said Mr. Gongda Yao, CEO of Daqo New Energy. “Having successfully built a world class polysilicon production facility in record time, we want to utilize this advantage, and combine it with Daqo Group’s expertise in the electrical equipment industry to expand into photovoltaic module manufacturing. This reflects Daqo New Energy’s growing presence in the PV industry, and also our commitment in developing, manufacturing and supplying high quality and cost-effective photovoltaic power generation solutions to a wide range of markets around the world.”

About Daqo New Energy

We are a leading polysilicon manufacturer based in Wanzhou, China. We manufacture and sell high-quality polysilicon to photovoltaic product manufacturers, who further process our polysilicon into ingots, wafers, cells and modules for solar power solutions. With an installed annual production capacity of 3,300 metric tons (“MT”) as of September 30, 2009, we are one of the largest polysilicon manufacturers in China. We plan to increase our installed annual production capacity to 9,300 MT by March 2012. In addition to ramping up our capacity, we have consistently focused on producing high-quality polysilicon in a cost-efficient manner, which we believe has contributed to our market position and will benefit us and our customers. Headquartered in Wanzhou, China, Daqo New Energy has a 200MW photovoltaic module manufacturing facility in Nanjing, China, as well as sales offices in the USA and Germany. For more information, please visit http://www.dqsolar.com

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934, as amended, that reflect Daqo New Energy’s judgment and involve risks and uncertainties as of the date of this release, including without limitation the statements related to anticipated product development timelines and Daqo New Energy’s manufacturing strategy. All forward-looking statements and other information included in this press release are based on information available to Daqo New Energy as of the date hereof, and Daqo New Energy assumes no obligation to update any such forward-looking statements or information. Daqo New Energy’s actual results could differ materially from those described in Daqo New Energy’s forward-looking statements. Other factors that could cause or contribute to such differences include, but are not limited to, risks related to significant regulatory, supply and competitive barriers to entry. Further information regarding these and other risks, uncertainties or factors is included in Daqo New Energy’s filings with the U.S. Securities and Exchange Commission. Daqo New Energy does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

Press and Investor Contacts

Calvin Lau

Investor Relations

Calvin.Lau@daqo.com

+86-23-6486-6573

+86-136-3646-8590

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