SHANGHAI, Sept. 27, 2023 /PRNewswire/ -- 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, today announced that it has released
a labor due diligence report ("Labor Due Diligence
Report") based on a labor audit conducted by an independent
third-party legal advisor.
The report is the result of a compliance assessment by the legal
advisor of labor practices and records at Xinjiang Daqo New
Energy Co., Ltd. ("Xinjiang Daqo"), Daqo New Energy, Chongqing Daqo
New Energy Co., and other affiliated companies and organizations of
Xinjiang Daqo (collectively referred as the "Daqo
Companies").
The investigations neither found evidence of forced labor or
child labor of any kind, nor identified any activities that would
constitute a violation of human rights under applicable labor laws
or regulations. In particular, the Daqo Companies have no cooperation or
partnerships with any labor camps, education and training centers
or detention centers.
Ming Yang, CFO of Daqo New
Energy, commented: "We are very pleased that this extensive review
of our labor practices confirms that the Daqo Companies' labor
practices have been sound and in compliance with all applicable
laws and regulations. The Board of Directors and the management of
the Company have always had zero tolerance for unfair labor
practices, especially forced labor."
Key highlights of the Labor Due Diligence Report include:
- Management Structure
A sound labor management
structure runs across the entire human resources management
structure of the Daqo Companies.
- Human Rights Protection of Ethnic Minorities
The
Daqo Companies have not set forth any restrictions against
ethnic minorities in their recruitment or other labor management
processes.
- Forced Labor and child labor
There is neither forced
labor nor child labor within the Daqo Companies.
- Employment Discrimination
There is no employment
discrimination based on factors such as gender, age, or sexual
orientation within the labor management processes of the
Daqo Companies.
- Employee TRAINING AND Protection
The
Daqo Companies conduct extensive training for new employees
and provide protective measures to employees engaged in special
types of work, such as work involving exposure to toxic substances
or other occupational hazards.
Further details of the due diligence report can be found at
http://ir.xjdqsolar.com/index.php?s=/Index/annual.
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 205,000 metric tons and is one of
the world's lowest cost producers of high-purity polysilicon.
For more information, please visit www.dqsolar.com.
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, Daqo New Energy's share repurchase
plan and the industry's outlook 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; and the Company's ability to lower its
production costs. Further information regarding these and other
risks is included in the reports or documents that 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.
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SOURCE Daqo New Energy Corp.