EX-4.15 2 v404590_ex4-15.htm EXHIBIT 4.15

Exhibit 4.15

Letter of Support

TO THE BOARD OF DIRECTORS OF

DAQO NEW ENERGY CORP.

We, as major shareholders, acknowledge the net current liability position of Daqo New Energy Corp. as of September 30, 2014 and agree to provide necessary financial support to Daqo New Energy Corp. and its subsidiaries so as to allow them to repay all its financial obligations as they fall due within 12 months from October 1, 2014, through Daqo Group Co., Ltd. (“Daqo Group”). another company wholly owned by the shareholders of us and a related party of Daqo New Energy Corp., which has sufficient capital and access to resources and hence the ability to do so.

The details of our agreed financial support to Daqo New Energy Corp. include the following:

| 1. | We agree that Daqo New Energy Corp. does NOT have to repay us the amount of RMB 455 million owed as of September 30, 2014 to Daqo Group, Daqo Solar Co., Ltd., Xinjiang Daqo Investment Co., Ltd and Daqo New Material Co.. Ltd. before October 1, 2015.

| 2. | In addition, we agree to provide Daqo New Energy Corp. additional financial funding to support the Company’s sustainable operation between October 1, 2014 and September 30, 2015. Daqo New Energy Corp. does NOT have to repay us this amount before October 1, 2015.

| 3. | In addition, the management of Daqo New Energy Corp. should immediately suspend the capacity expansion project in its Xinjiang facilities if they don’t have sufficient financial recourses to continue the project after repaying all other financial obligations.

We agree to provide funding to support the Company to repay all the financial obligations already committed related to the capacity expansion project in its Xinjiang facilities. Daqo New Energy Corp. does NOT have to repay us this amount before October 1, 2015.

Investor name: | MILLION FORTUNE INTERNATIONAL LIMITED
Signature: | /s/ Wanlin Gao |
Date: | December 10, 2014 |
Investor name: | BEST MOUNT INTERNATIONAL LIMITED
Signature: | /s/ Jianrong Tang |
Date: | December 10, 2014 |
Investor name: | ACE PRO HOLDINGS LIMITED
Signature: | /s/ Bin Cai |
Date: | December 10, 2014 |

Investor name: | INSTANTUP INVESTMENTS LIMITED
Signature: | /s/ Dafeng Shi |
Date: | December 10, 2014 |
Investor name: | GOLD INTELLECT LIMITED
Signature: | /s/ Guangfu Xu |
Date: | December 10, 2014 |
Investor name: | PLENTY CHINA LIMITED
Signature: | /s/ Xiang Xu |
Date: | December 10, 2014 |
Investor name: | RUIAN INTERNATIONAL LIMITED
Signature: | /s/ Fei Ge |
Date: | December 10, 2014 |
Investor name: | LUCKY PROSPER INVESTMENTS LIMITED
Signature: | /s/ Dafeng Shi |
Date: | December 10, 2014 |
Investor name: | JIA XIN ENTERPRISES LIMITED
Signature: | /s/ Bin Cai |
Date: | December 10, 2014 |
Investor name: | DAQO GROUP CO., LTD.
Signature: | /s/ Guangfu Xu |
Date: | December 10, 2014 |