Daqo New Energy
Corporate brand
UnclaimedDaqo New Energy is a Chinese solar-materials company producing monocrystalline and polycrystalline silicon for photovoltaic applications. Daqo Group is a China-based industrial group focused on electrical equipment, components, power electronics and new energy products.
Last updated October 12, 2026
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Overview
Daqo New Energy Corp. is a Chinese manufacturer of high-purity silicon materials used primarily in solar photovoltaic systems. Its principal products are monocrystalline silicon and polycrystalline silicon, which sit upstream in the photovoltaic value chain and are processed by downstream manufacturers into wafers, cells and modules. The company’s central manufacturing base is in Shihezi, Xinjiang, where it operates silicon production facilities through its Xinjiang Daqo subsidiary. The corporate group originated with the incorporation of Mega Stand International Limited in the Cayman Islands in November 2007. The company adopted a variable interest entity structure and changed its name to Daqo New Energy Corp. in August 2009. Chongqing Daqo, established in January 2008, handled manufacturing at the group’s earlier Chongqing site. Xinjiang Daqo, established in February 2011, became the operating subsidiary for the company’s Xinjiang production complex. Daqo initially pursued a broader photovoltaic manufacturing strategy. Its early operations included silicon production in Chongqing, silicon-wafer manufacturing and, for a period, photovoltaic-module production in Nanjing. The Nanjing module business was sold in 2012. Silicon production in Chongqing ended in December 2012, after which production was progressively transferred to Xinjiang. The Xinjiang facility began silicon production in the second quarter of 2013 and became the company’s main manufacturing platform. The company’s silicon is produced through a chemical-vapor-deposition process using closed-loop reactors. Xinjiang capacity was expanded in multiple stages, with projects identified as Phases 3B, 4A and 4B directed increasingly toward monocrystalline silicon. In the first quarter of 2018, the company’s output mix was reported as approximately 60% monocrystalline silicon and 40% polycrystalline silicon. Daqo also operated a vertically integrated wafer business in Chongqing, using silicon from Xinjiang, but discontinued wafer manufacturing in September 2018 because of difficult market conditions. Daqo entered the public markets in October 2010 through a New York Stock Exchange listing. Its Xinjiang operating subsidiary was listed on China’s New Third Board in 2016. The company’s business is therefore connected both to global photovoltaic supply chains and to China’s domestic capital markets. Daqo’s Xinjiang operations have also attracted significant scrutiny. Reports and government actions have alleged links between the company and the use of forced labor in Xinjiang. In May 2021, the company shortlisted auditors to review its operations in an effort to respond to those allegations. In June 2021, the United States Department of Commerce added Xinjiang Daqo New Energy Co. to the Bureau of Industry and Security’s Entity List. These developments created regulatory and supply-chain challenges for the company and heightened attention around traceability and labor standards in solar-materials sourcing. Daqo is best understood as an upstream industrial supplier rather than a consumer-facing solar brand. Its commercial importance derives from production scale, silicon purity, manufacturing efficiency and access to photovoltaic customers. Its history reflects the photovoltaic industry’s movement toward specialization: the company exited modules and later wafers while concentrating on silicon materials, particularly monocrystalline-grade output. Daqo Group (大全集团) is a Chinese industrial group whose stated principal businesses include electrical equipment, components, power electronics and new energy. The company describes itself as serving customers with products and systems for power distribution, electrical infrastructure, factory automation and energy management. Its portfolio includes medium- and low-voltage switchgear, components, busbar systems, transformers and DC traction power-supply equipment, as well as electrical equipment and components for renewable-energy applications. The group’s website presents a mix of Daqo-developed products and offerings associated with joint ventures or other technology partners. Examples include its UDQ series of medium-voltage switchgear and DQM low-voltage switchgear, alongside product lines identified with partners such as Siemens, Schneider Electric, ABB and Eaton. The site describes applications including power plants, utility distribution, industrial systems, commercial buildings, data centers, hospitals and other infrastructure. It also presents solutions for smart substations, factory automation and integrated energy management. Daqo says it operates six production bases, four research institutes and 32 manufacturing companies across China. It highlights research and development, digital manufacturing and intelligent-factory capabilities as central to its strategy. The group’s company profile reports participation in national and provincial technology projects, standards development and patenting, and describes its approach as innovation-driven and focused on high-quality development. Daqo’s website and recent company news indicate an active effort to extend international business through cooperation with Siemens. In 2025, the group reported the launch of overseas export business and the achievement of full production at a new factory by Zhenjiang Siemens Busbar Co., a joint venture between Daqo Group and Siemens. The supplied evidence does not establish the group’s founding date, founder, headquarters, listed status or ultimate ownership, so those details are not stated here. Daqo became publicly traded in October 2010 through a New York Stock Exchange listing. Its Xinjiang operating subsidiary was listed on China’s New Third Board in 2016. The dual-market structure linked the Cayman-incorporated parent and its Chinese operating subsidiary to both international investors and China’s domestic over-the-counter market. From 2021 onward, the company faced heightened scrutiny over alleged forced labor connections in Xinjiang. In May 2021, it shortlisted three auditors to examine its operations and address the allegations. In June 2021, the U.S. Department of Commerce added Xinjiang Daqo New Energy Co. to the Bureau of Industry and Security’s Entity List. The action intensified regulatory and commercial attention around the provenance of solar materials produced in Xinjiang. Overall, Daqo evolved from a diversified photovoltaic manufacturer into a specialized upstream silicon producer. Its major turning points were the sale of the Nanjing module operation, the transfer of silicon production from Chongqing to Xinjiang, the expansion of Xinjiang’s monocrystalline capacity, and the later withdrawal from wafer manufacturing. The company’s industrial identity is now closely associated with large-scale polysilicon production and with the compliance issues surrounding Xinjiang-based supply chains.
History
Daqo New Energy’s corporate history began in November 2007, when Mega Stand International Limited was incorporated in the Cayman Islands. The company used a variable interest entity structure and adopted the Daqo New Energy Corp. name in August 2009. Its initial operating platform was associated with Chongqing Daqo, a subsidiary established in January 2008 to manage manufacturing activities in Chongqing. The group originally pursued several stages of photovoltaic manufacturing. It produced silicon in Chongqing, later added silicon-wafer production, and operated a photovoltaic-module facility in Nanjing. The module business was sold in 2012, marking an early retreat from downstream manufacturing. Silicon production at Chongqing ended in December of the same year as the company shifted its industrial focus toward Xinjiang. Xinjiang Daqo was established in February 2011. Its facility in Shihezi began silicon production in the second quarter of 2013 and subsequently became the company’s principal manufacturing base. Equipment from Chongqing was relocated to Xinjiang as the latter site expanded. The company used chemical vapor deposition in closed-loop reactors to produce monocrystalline and polycrystalline silicon for photovoltaic customers. Daqo’s Xinjiang expansion proceeded through several phases. A Phase 3B project was described as increasing annual silicon capacity to 30,000 metric tons, while later projects designated 4A and 4B were intended to produce exclusively monocrystalline silicon. The shift toward monocrystalline output reflected the photovoltaic industry’s demand for higher-efficiency materials. In the first quarter of 2018, reported production was divided between approximately 60% monocrystalline silicon and 40% polycrystalline silicon. The company also developed a degree of vertical integration through wafer manufacturing in Chongqing. That operation used silicon produced at Xinjiang and reported sales of 98 million wafers in 2017, compared with 82.8 million in 2016. Nevertheless, Daqo discontinued wafer production in September 2018, citing increasingly difficult market conditions. This left the group more concentrated on silicon materials rather than wafers, cells, modules or finished photovoltaic systems. Daqo became publicly traded in October 2010 through a New York Stock Exchange listing. Separately, Xinjiang Daqo was listed on China’s New Third Board in 2016. The dual-market structure linked the Cayman-incorporated parent and its Chinese operating subsidiary to both international investors and China’s domestic over-the-counter market. From 2021 onward, the company faced heightened scrutiny over alleged forced labor connections in Xinjiang. In May 2021, it shortlisted three auditors to examine its operations and address the allegations. In June 2021, the U.S. Department of Commerce added Xinjiang Daqo New Energy Co. to the Bureau of Industry and Security’s Entity List. The action intensified regulatory and commercial attention around the provenance of solar materials produced in Xinjiang. Overall, Daqo evolved from a diversified photovoltaic manufacturer into a specialized upstream silicon producer. Its major turning points were the sale of the Nanjing module operation, the transfer of silicon production from Chongqing to Xinjiang, the expansion of Xinjiang’s monocrystalline capacity, and the later withdrawal from wafer manufacturing. The company’s industrial identity is now closely associated with large-scale polysilicon production and with the compliance issues surrounding Xinjiang-based supply chains. Daqo Group’s supplied official materials describe a business built around electrical equipment, components, power electronics and new energy. The company profile presents research and development as a core capability and describes a product and solution range spanning medium- and low-voltage distribution equipment, components, busbars, transformers, DC traction power-supply equipment, smart substations, factory automation and energy-management systems. The evidence supplied here does not state the group’s founding date or identify its founder, so its early history cannot be reliably detailed. The company profile describes a substantial domestic industrial and research footprint: six production bases, four research institutes and 32 manufacturing companies across China. It also reports involvement in national and provincial science and technology projects and in the development of national, industry and group standards. The same profile emphasizes digitalization and intelligent manufacturing, describing digital management and digital research-and-manufacturing processes, alongside smart marketing, supply-chain and operations platforms. These statements position technology development and manufacturing modernization as recurring themes in the group’s account of its development. Daqo’s portfolio includes both its own product lines and products made through partnerships or associated with other manufacturers. The website identifies the UDQ series as a Daqo Intelligent Electrical product and DQM as developed by Nanjing Daqo Electric. It separately identifies UR4 as a joint-venture product of Daqo Intelligent Electrical and Eaton, and describes product families associated with Siemens, Schneider Electric and ABB. This range reflects a combination of in-house development and cooperation rather than a single-origin product portfolio. A documented internationalization milestone came in September 2025. Daqo reported that Zhenjiang Siemens Busbar Co., its joint venture with Siemens, held an overseas export business launch and new-factory production celebration. The report said the launch marked the beginning of the venture’s international-market push and its integration into Siemens’s global supply chain and market layout. Daqo’s September 2025 news also reported that the group had been selected for the Ministry of Industry and Information Technology’s 2025 Excellence-level Smart Factory projects. The company described the project as integrating design, manufacturing, management and service for medium- and low-voltage power-distribution equipment, with artificial-intelligence applications across multiple operational stages.
- 2021
Xinjiang subsidiary added to U.S. Entity List
[1]The U.S. Department of Commerce added Xinjiang Daqo New Energy Co. to the Bureau of Industry and Security’s Entity List.
- 2018
Wafer operations discontinued
[1]Daqo ended its Chongqing silicon-wafer manufacturing operation in September 2018, citing difficult market conditions.
- 2016
Xinjiang Daqo listed in China
[1]Xinjiang Daqo was listed on China's New Third Board.
- 2013
Xinjiang silicon production begins
[1]The Xinjiang facility began producing silicon in the second quarter of 2013, becoming the group’s main production platform.
- 2012
Nanjing module business sold
[1]Daqo sold its photovoltaic-module manufacturing business in Nanjing.
- 2010
New York Stock Exchange listing
[1]Daqo New Energy Corp. was first listed on the New York Stock Exchange in October 2010.
- 2009
Company adopts Daqo New Energy name
[1]The corporate entity changed its name to Daqo New Energy Corp. in August 2009.
- 2007
Corporate predecessor incorporated
[1]Mega Stand International Limited was incorporated in the Cayman Islands in November 2007, using a variable interest entity structure.
Selected for the 2025 Excellence-level Smart Factory projects
Zhenjiang Siemens begins overseas export business and reaches full production at a new factory
Products and positioning
An upstream Chinese solar-materials manufacturer focused on high-purity silicon production for photovoltaic supply chains, with a business model centered on large-scale manufacturing and vertical integration rather than consumer-facing solar products. An innovation-oriented industrial supplier of electrical equipment and systems, with a focus on power distribution, intelligent manufacturing and energy-transition applications.
Solar photovoltaic materials
Monocrystalline silicon
Daqo produces monocrystalline silicon for photovoltaic applications. Monocrystalline material is used by downstream manufacturers to make wafers and other components for higher-efficiency solar modules. Xinjiang expansion projects, including the identified 3B, 4A and 4B phases, increasingly emphasized monocrystalline output.
Solar photovoltaic materials
Polycrystalline silicon
Polycrystalline silicon is another core Daqo product and an upstream input for photovoltaic manufacturing. The company produces it through chemical vapor deposition in closed-loop reactors. In the first quarter of 2018, polycrystalline silicon represented approximately 40% of reported production.
Photovoltaic components · 2011
Silicon wafers
Daqo formerly manufactured silicon wafers at its Chongqing facility, using silicon supplied from Xinjiang and thereby creating a vertically integrated production chain. The business reported 98 million wafer sales in 2017 but was discontinued in September 2018 because of challenging market conditions.
Solar photovoltaic products
Photovoltaic modules
Daqo formerly produced photovoltaic modules at a Nanjing facility. This downstream module business was sold in 2012, and module production is no longer part of the company’s described operating focus.
UDQ-12/24 and UDQ-40.5 digital switchgear
The website identifies these indoor switchgear products as Daqo Intelligent Electrical offerings for power distribution, control, protection and monitoring.
DQM intelligent low-voltage switchgear
The website describes DQM as developed by Nanjing Daqo Electric.
UR4 digital switchgear
The website identifies UR4 as a joint-venture product of Daqo Intelligent Electrical and Eaton.
Controversies
2021
Allegations concerning forced labor in Xinjiang
Daqo has been reported as allegedly connected to the use of forced labor in Xinjiang. In response to the allegations, the company shortlisted three auditors in May 2021 to assess its operations. The issue contributed to regulatory scrutiny of the company and of Xinjiang-origin solar materials.
2021
U.S. Entity List designation
In June 2021, the U.S. Department of Commerce placed Xinjiang Daqo New Energy Co. on the Bureau of Industry and Security’s Entity List. The designation was associated with concerns regarding alleged forced labor and Xinjiang supply chains.
Brand decisions
2018
Discontinuation of wafer manufacturingStrategyBackground
Daqo’s Chongqing wafer operation faced increasingly difficult market conditions despite reported growth in wafer sales through 2017.
Action taken
The company discontinued wafer manufacturing in September 2018.
Aftermath
Daqo became more concentrated on upstream monocrystalline and polycrystalline silicon production.
2013
Shift silicon production to XinjiangStrategyBackground
Daqo’s original silicon manufacturing was conducted at its Chongqing facility, while the Xinjiang facility was being developed.
Action taken
Silicon production began at Xinjiang in the second quarter of 2013, while Chongqing production had ended in December 2012; some equipment was relocated to Xinjiang.
Aftermath
Xinjiang became the company’s principal silicon-production base and was subsequently expanded through multiple capacity phases.
2012
Exit from photovoltaic-module manufacturingStrategyBackground
Daqo operated a photovoltaic-module facility in Nanjing during its earlier, more diversified phase.
Action taken
The company sold the Nanjing module business.
Aftermath
The disposal reduced Daqo’s downstream exposure and supported a greater focus on upstream silicon materials.
- Launch of overseas export business for Zhenjiang Siemens Busbar Co.Other
Sources5 sources
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