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ORGANIZATION AND PRINCIPAL ACTIVITIES | 12 Months Ended
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Dec. 31, 2024
ORGANIZATION AND PRINCIPAL ACTIVITIES |
ORGANIZATION AND PRINCIPAL ACTIVITIES | 1. ORGANIZATION AND PRINCIPAL ACTIVITIES Daqo New Energy Corp. (the “Company”) and its subsidiaries are collectively referred to as the Group, which is a manufacturer of high-purity polysilicon for the global solar PV industry. The Company was founded in 2007. The Group manufactures and sells high-purity polysilicon to photovoltaic product manufactures. The Company’s major operational subsidiary Xinjiang Daqo completed the initial public offering (“IPO”) on the Shanghai Stock Exchange’s Sci-Tech Innovation Board on July 22, 2021, and raised net proceeds of approximately $935.0 million, to fund its business operations. Following the IPO, the Company holds approximately a total ownership of 80.7% of Xinjiang Daqo, directly and indirectly. In June 2022, Xinjiang Daqo, received the total gross proceeds of approximately RMB11 billion (an equivalence of $1,640 million) from its private offering on the Shanghai Stock Exchange. Upon completion of the private offering, the Company beneficially owns approximately 72.68% of Xinjiang Daqo. Proceeds from the offering were primarily used for construction of new polysilicon projects in Inner Mongolia in China. As of December 31, 2024, the Company’s principal subsidiaries are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Date and Jurisdiction of | ​ | Equity interest | ​
Name of subsidiaries |  | Principal Business Activities |  | Establishment |  | attributable to the Group |
Xinjiang Daqo | ​ | Manufacturing of polysilicon | ​ | February 2011 | ​ | 72.77 | %
Inner Mongolia Daqo New Energy |  | Manufacturing of polysilicon |  | October 2021 |  | 72.77 | %
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