Daqo New Energy announces 5B polysilicon expansion project to increase capacity

Daqo New Energy announced that its Phase 5B polysilicon expansion project in Inner Mongolia is expected to increase the company's annual polysilicon production capacity by 100,000 MT to a total of 305,000 MT by the end of 2023. The company's existing polysilicon facilities in Xinjiang with nameplate capacity of 105,000 MT are expected to produce approximately 130,000 to 132,000 MT of polysilicon in 2022. The Phase 5A project with nameplate capacity of 100,000 MT in Inner Mongolia, currently under construction, is expected to be completed in Q2 2023. The newly announced Phase 5B project will add another 100,000 MT capacity and increase the company's total annual production capacity to 305,000 MT by the end of 2023. The capital expenditures for the Phase 5B project are estimated to be approximately RMB 9.2B.