<SEC-DOCUMENT>0001144204-14-055888.txt : 20141023
<SEC-HEADER>0001144204-14-055888.hdr.sgml : 20141023
<ACCEPTANCE-DATETIME>20140915160146
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-14-055888
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20140915

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DAQO NEW ENERGY CORP.
		CENTRAL INDEX KEY:			0001477641
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		666 LONGDU AVENUE
		CITY:			WANZHOU, CHONGQING
		STATE:			F4
		ZIP:			404000
		BUSINESS PHONE:		(86-23) 6486-6666

	MAIL ADDRESS:	
		STREET 1:		666 LONGDU AVENUE
		CITY:			WANZHOU, CHONGQING
		STATE:			F4
		ZIP:			404000
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0.75in; text-align: right; text-indent: 0.5in">666 Longdu
Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0.75in; text-align: right; text-indent: 0.5in">Wanzhou,
Chongqing F4 404000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.35pt 0pt 0.75in; text-align: right">The People&rsquo;s Republic
of China</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 15, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>VIA EDGAR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Martin James, Senior Assistant Chief Accountant</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Kate Tillan, Assistant Chief Accountant</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Li Xiao, Staff Accountant</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">100 F Street, N.E.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Washington, D.C. 20549</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></td></tr>
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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Daqo New Energy Corp. (the &ldquo;Company&rdquo;)</B><BR>
<B>Form 20-F for the fiscal year ended December 31, 2013 (the &ldquo;2013 20-F&rdquo;)</B><BR>
<B>Filed April 14, 2014</B><BR>
<B>Form 6-K dated May 12, 2014 (the &ldquo;May 12 6-K&rdquo;)</B><BR>
<B>Filed May 12, 2014</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in"><B>Form 6-K dated August 18, 2014
(the &ldquo;August 18 6-K&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in"><B>Filed August 18, 2014 </B><BR>
<B><U>File No. 001-34602_______________________________________________</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. James, Ms. Tillan and Ms. Xiao:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This letter sets forth the Company&rsquo;s
response to the comments contained in the letter dated September 3, 2014 from the staff (the &ldquo;<B>Staff</B>&rdquo;) of the
Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) regarding the 2013 20-F, the May 12 6-K and the August
18 6-K. The Staff&rsquo;s comments are repeated below in bold and followed by the response thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Form 20-F for the Fiscal Year Ended December 31, 2013
</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 5. Operating and Financial Review and Prospects </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Critical Accounting Policies, page 51</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD><B>We refer to your response to prior comment 1 where you described the impairment test performed for the wafer business in
2013. To the extent that any of your long-lived assets or asset groups have estimated fair values that are not substantially in
excess of the carrying values and to the extent that the asset amounts, in the aggregate or individually, could materially impact
your operating results, please provide the following disclosures in your future filings:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>The carrying value of the respective assets or asset groups; </B></TD></TR></TABLE>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>The percentage by which fair value exceeds the carrying value; </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>A description of the assumptions that drive the estimated fair value; </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>A discussion of the uncertainty associated with the key assumptions. For example, to the extent that you have included assumptions
in your discounted cash flow model that materially deviates from your historical results, please include a discussion of these
assumptions; and </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>A discussion of any potential events and/or circumstances that could have a negative effect to the estimated fair value.
</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"><B>If you have determined that the
estimated fair value substantially exceeds the carrying value for all of your long-lived assets or asset groups, please disclose
this determination. Please refer to Item 303 of Regulation S-K and Sections 216 and 501.14 of the SEC&rsquo;s Codification of Financial
Reporting Policies for guidance.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">The Company respectfully advises
the Staff that the estimated sum of the undiscounted cash flows expected to result from the use and eventual disposition of the
wafer asset group substantially exceeded the recorded carrying value of the assets of $11.6 million, as of December 31, 2013 by
a significant multiple, and therefore does not believe that there was a likely charge to income imminent from impairment of these
assets, or risk of significant change in the underlying assumptions associated with this calculation, and accordingly does not
believe further disclosure is merited pursuant to the guidance in Sections 216 and 501.14 of the SEC&rsquo;s Codification of Financial
Reporting Policies for guidance. As discussed in the previous response, given that the asset group passed step 1 of the impairment
analysis, performed in accordance with ASC 360, the Company did not calculate an estimated fair value of these assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">However, the Company acknowledges
the Staff&rsquo;s comment, and will include the following disclosure in the &ldquo;Critical Accounting Policies&rdquo;<I> </I>section
of &ldquo;Item 5. Operating and Financial Review and Prospects&rdquo; of the Company&rsquo;s Form 20-F for the fiscal year ending
December 31, 2014:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">In 2013, the Company evaluated under
ASC 360-10-35-21 whether there were events or changes in circumstances which indicated that the carrying amount of the Company&rsquo;s
wafer asset group may not be recoverable. The Company estimated future cash flows by using certain significant assumptions such
as the estimated future selling prices of wafer, production costs, and projected sales volumes. &nbsp;The Company estimated such
significant assumptions with reference to the historical records, industry analysis reports, current indications of customer demand
and management&rsquo;s experience. As a result, the Company concluded the estimated sum of the undiscounted cash flows expected
to result from the use and eventual disposition of the wafer asset group substantially exceeded the carrying amount, and no impairment
was noted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 7. Property, Plant and Equipment, Net, page F-22</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD><B>We refer to your response to prior comment 7. Please respond to the following with respect to the Chongqing polysilicon
operation:</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>Please provide the carrying value before impairment for the land, buildings and idle machinery and equipment at the Chongqing
polysilicon business; of this amount, please also tell us how much is attributable to Daqo New Material; </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><B>Please describe the reason for a $155 million impairment of buildings and plant considering that they were acquired a few
years ago. Describe the value derived from the direct comparison method under the market approach and the adjustments made to arrive
at the final fair value for these assets. Please also tell us the current status of these buildings and plant and whether Daqo
Group is utilizing them after the termination of lease with you. </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">The Company respectfully advises
the Staff that the carrying amount prior to impairment and the amount attributable to Daqo New Material for the land use right,
buildings and plant, and idle machinery and equipment is set out as below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 88%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 42%; border: Black 1pt solid; padding: 12pt 5.4pt; text-indent: 0in">&nbsp;</td>
    <TD STYLE="width: 31%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Total carrying amount</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">prior to impairment</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P></td>
    <TD STYLE="width: 27%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Attributable to</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">Daqo New Material</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 12pt 5.4pt; text-indent: 0in"><font style="font-size: 10pt">Land use right</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$6,657,830</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$6,657,830</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 12pt 5.4pt; text-indent: 0in"><font style="font-size: 10pt">Buildings</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$4,813,530</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$4,813,530</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 12pt 5.4pt; text-indent: 0in"><font style="font-size: 10pt">Plant (or &quot;manufacturing fixtures&quot;)</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$166,127,084</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$152,797,151</font></td></tr>
<tr>
    <td style="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 12pt 5.4pt; text-indent: 0in"><font style="font-size: 10pt">Idle machinery and equipment</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$3,631,831</font></td>
    <td style="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 12pt 5.4pt; text-align: right; text-indent: 0in"><font style="font-size: 10pt">$0</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">The impairment loss of $155 million
for buildings and plant was all attributable to the plant, which are primarily manufacturing fixtures. These manufacturing fixtures
are non-standard structures which were custom-built for Daqo&rsquo;s polysilicon business, which can neither be relocated nor used
by others. The Company believes these assets are not resalable, and have little or no market value. Therefore, the Company estimated
the fair value based on the cash flows expected to result from eventual disposition of these assets, which was determined to be
the scrap value of the metal and other materials salvageable from the fixtures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">The Company used the direct comparison
method under the market approach to estimate the fair value of buildings. The value derived from this method after adjustments
was about $10.7 million, which substantially exceeded the carrying value of buildings. Therefore, no impairment loss was noted.
Daqo Group is currently utilizing the buildings held by Daqo New Material for its own business, which is not related to the production
of polysilicon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD><B>Please explain why all of the losses at Daqo New Material are allocated to non-controlling interest, including the impairment
losses discussed above. </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company respectfully advises the Staff that Daqo
New Material (the &quot;VIE&quot;) was established by Daqo Group, a related party to the Company in November 2006. The equity interest
of the VIE is owned by Daqo Group, which has been presented as non-controlling interest on the consolidated balance sheets. The
VIE was structured to acquire land use rights and construct certain polysilicon production infrastructure explicitly for the use
of Chongqing Daqo, which controlled this VIE through the provisions of the lease agreement, until its termination on December 31,
2013. Lease income and expenses and associated receivables and payables are eliminated upon consolidation as intercompany transactions.
The net income/(loss) attributable to the operations of the VIE is reflected as an allocation to non-controlling interest given
Dago Group, the non-controlling shareholder of the VIE owns 100% of the equity. Therefore, and in response to the Staff&rsquo;s
comment, all of the losses at Daqo New Material were allocated to non-controlling interest, including the impairment losses discussed
above. <FONT STYLE="color: red"> </FONT>Please refer to page F-10 of the 2013 20-F for details of the VIE arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Form 6-K dated May 12, 2014 and August 18, 2014 </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD><B>We note in your response to prior comment 9 where you describe your basis for revising the estimates of the expected useful
lives of property and equipment. When discussing the change in your critical accounting policies and estimates in your next Form
20-F, please include information similar to your response. Refer to Item 303 of Regulation S-K.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">The Company acknowledges the Staff&rsquo;s
comment, and will include the following disclosure in the &ldquo;Critical Accounting Policies&rdquo;<I> </I>section of &ldquo;Item
5. Operating and Financial Review and Prospects&rdquo; and &ldquo;Summary of principal accounting policies&rdquo; section on F-page
of the Company&rsquo;s Form 20-F for the fiscal year ended December 31, 2014:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in"><I>The Company reassesses the
reasonableness of the estimates of useful lives and residual values of long-lived assets when events or changes in circumstances
indicate that the useful lives and residual values of a major asset or a major category of assets may not be reasonable. Factors
that the Company considers in deciding when to perform an analysis of useful lives and residual values of long-lived assets include,
but are not limited to, significant variance of a business or product line in relation to expectations, significant deviation from
industry or economic trends, and significant changes or planned changes in the use of the assets. The analysis will be performed
at the asset or asset category with the reference to the assets&rsquo; conditions, current technologies, market, and future plan
of usage and the useful lives of major competitors. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in"><I>In 2013, the Company made the
decision to relocate a majority of Chongqing&rsquo;s polysilicon assets to Xinjiang. As part of the decision to make significant
investment to relocate the assets, the Company revisited the expectation as to the useful lives of these assets. Based on this
review, the Company determined that the condition of its major assets, having now been in operations for a meaningful percentage
of the original estimated lives, were in better condition, than the original useful life expectation had predicted, accordingly,
the Company engaged an independent valuation firm to assist in reassessing the remaining economic useful life of the polysilicon
assets in both Chongqing and Xinjiang. The analysis was completed in the first quarter of 2014.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in"><I>Therefore, the Company revised
the estimates of expected useful lives of long-lived assets from January 1, 2014. The useful lives of machinery and equipment were
expended from 10 years to 15 years, while buildings and structures were expended from 20 years to 30 years. No changes were made
to furniture, fixtures and equipment, or motor vehicles.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.45pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD><B>Please explain to us the components and corresponding assets related to the non-operational Chongqing polysilicon costs
disclosed as a non-GAAP reconciling item in your earnings release for the quarters ended March 31, and June 30, 2014. Please clarify
in your future filings whether you expect these costs will continue to occur. </B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">The Company respectfully advises
the Staff that the non-operational Chongqing polysilicon costs mainly consisted of depreciation costs, as well as utilities and
maintenance costs associated with the temporarily idle polysilicon machinery and equipment, which will be or are in the process
of being relocated to the Company&rsquo;s Xinjiang facility. The Company would expect a majority of these costs, such as depreciation,
will continue to occur subsequent to the completion of the relocation plan. Once these assets are placed back in services, the
Company will remove this adjustment from the non-GAAP reconciling item.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">The Company will clarify the description
of the non-operational Chongqing polycilicon costs and whether the Company expects these costs will continue to occur in the Company&rsquo;s
future filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 63.35pt">If you have any additional questions or
comments regarding the 2013 20-F, the May 12 6-K or the August 18 6-K, please contact the undersigned at (86 23) 6486-6666 or cfosunbing@daqo.com.
Thank you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 252.05pt"><U>/s/ Bing Sun</U><BR>
Bing Sun<BR>
Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 252.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 252.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">cc:</FONT></TD>
    <TD STYLE="width: 92%; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gongda Yao, Director and Chief Executive Officer, Daqo New Energy Corp.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Z. Julie Gao, Esq., Partner, Skadden, Arps, Slate, Meagher &amp; Flom LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Will H. Cai, Esq., Partner, Skadden, Arps, Slate, Meagher &amp; Flom LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Christy Liu, Partner, Deloitte Touche Tohmatsu Certified Public Accountants LLP</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
