<SEC-DOCUMENT>0000921895-25-003018.txt : 20251113
<SEC-HEADER>0000921895-25-003018.hdr.sgml : 20251113
<ACCEPTANCE-DATETIME>20251113160654
ACCESSION NUMBER:		0000921895-25-003018
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251113
DATE AS OF CHANGE:		20251113

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DAQO NEW ENERGY CORP.
		CENTRAL INDEX KEY:			0001477641
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-85938
		FILM NUMBER:		251478413

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		666 LONGDU AVENUE
		CITY:			WANZHOU, CHONGQING
		PROVINCE COUNTRY:   	F4
		BUSINESS PHONE:		(86-23) 6486-6666

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		666 LONGDU AVENUE
		CITY:			WANZHOU, CHONGQING
		PROVINCE COUNTRY:   	F4

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CONTINENTAL GENERAL INSURANCE CO
		CENTRAL INDEX KEY:			0000024046
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		ORGANIZATION NAME:           	02 Finance
		EIN:				470463747
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		11001 LAKELINE BLVD., STE. 120
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78717
		BUSINESS PHONE:		4023973200

	MAIL ADDRESS:	
		STREET 1:		11001 LAKELINE BLVD., STE. 120
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78717
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0000921895-24-000711</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: CONTINENTAL GENERAL INSURANCE CO -->
          <cik>0000024046</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Ordinary Shares, par value $0.0001 per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001477641</issuerCik>
        <issuerName>DAQO NEW ENERGY CORP.</issuerName>
        <issuerCusip>23703Q203</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>666 LONGDU AVENUE</com:street1>
          <com:city>WANZHOU, CHONGQING</com:city>
          <com:stateOrCountry>F4</com:stateOrCountry>
          <com:zipCode>404000</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Percy Rockdale LLC</reportingPersonName>
      <citizenshipOrOrganization>MI</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>166030.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>166030.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>166030.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.05</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>Represents Shares (as defined below) underlying 33,206 ADSs (as defined below). Each ADS represents five Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>CONTINENTAL GENERAL INSURANCE CO</reportingPersonName>
      <citizenshipOrOrganization>TX</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>33209930.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>33209930.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>33209930.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.95</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>Represents Shares underlying 6,641,986 ADSs. Each ADS represents five Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Continental Insurance Group, Ltd.</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>33209930.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>33209930.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>33209930.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.95</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>Represents Shares underlying 6,641,986 ADSs. Each ADS represents five Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Continental General Holdings LLC</reportingPersonName>
      <citizenshipOrOrganization>MI</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>33209930.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>33209930.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>33209930.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.95</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
      <comments>Represents Shares underlying 6,641,986 ADSs. Each ADS represents five Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Gorzynski Michael</reportingPersonName>
      <citizenshipOrOrganization>X1</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>33375960.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>33375960.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>33375960.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>9.99</classPercent>
      <typeOfReportingPerson>IN</typeOfReportingPerson>
      <comments>Represents Shares underlying 6,675,192 ADSs. Each ADS represents five Shares.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>DAQO NEW ENERGY CORP.</issuerName>
      </item1>
      <item2>
        <filingPersonName>The names of the persons filing this statement on Schedule 13G (collectively, the "Reporting Persons") are:

Percy Rockdale LLC ("Percy Rockdale"),

Continental General Insurance Company ("CGIC"),

Continental Insurance Group, Ltd. ("CIG"),

Continental General Holdings LLC ("CGH"), and

Michael Gorzynski ("Mr. Gorzynski").</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address of the principal office for Percy Rockdale and Mr. Gorzynski is 595 Madison Avenue, 30th Floor, New York, NY 10022. The principal business address for each of CGIC, CIG and CGH is 11001 Lakeline Blvd., Ste. 120, Austin, TX 78717.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Each of Percy Rockdale and CGH is a Michigan limited liability company. CIG is a Delaware corporation. CGIC is a Texas domiciled life and health insurance company. Mr. Gorzynski is a citizen of the United States of America and Poland.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>The Reporting Persons own American Depositary Shares of the Issuer ("ADSs"), as set forth herein. Each ADS represents five of the Issuer's Ordinary Shares, par value $0.0001 per share (the "Shares").

As of the close of business on September 30, 2025:

(i) Percy Rockdale directly beneficially owned 166,030 Shares underlying ADSs it directly owned.

(ii) CGIC directly beneficially owned 33,209,930 Shares underlying ADSs it directly owned.

(iii) As the sole owner of CGIC, CIG may be deemed the beneficial owner of the 33,209,930 Shares underlying ADSs beneficially owned by CGIC.

(iv) As the sole owner of CIG, CGH may be deemed the beneficial owner of the 33,209,930 Shares underlying ADSs beneficially owned by CGIC.

(v) As the sole Manager of Percy Rockdale and as a manager and Executive Chairman of CGH, Mr. Gorzynski may be deemed to beneficially own 33,375,960 Shares, consisting of (i) the 166,030 Shares underlying ADSs directly beneficially owned by Percy Rockdale and (ii) the 33,209,930 Shares underlying ADSs directly beneficially owned by CGIC.</amountBeneficiallyOwned>
        <classPercent>The following percentages are based on 333,759,632 Shares outstanding, which is the total number of Shares outstanding as of December 31, 2024, as disclosed in the Issuer's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 29, 2025.

As of the close of business on September 30, 2025:

(i) Percy Rockdale may be deemed to beneficially own approximately 0.05% of the outstanding Shares;

(ii) CGIC may be deemed to beneficially own approximately 9.95% of the outstanding Shares;

(iii) CIG may be deemed to beneficially own approximately 9.95% of the outstanding Shares;

(iv) CGH may be deemed to beneficially own approximately 9.95% of the outstanding Shares; and

(v) Mr. Gorzynski may be deemed to beneficially own approximately 9.99% of the outstanding Shares.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Cover Pages Items 5-9.</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Cover Pages Items 5-9.</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Cover Pages Items 5-9.</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Cover Pages Items 5-9.</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>N</notApplicableFlag>
        <identificationAndClassificationOfGroupMembers>See Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on March 25, 2024</identificationAndClassificationOfGroupMembers>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Percy Rockdale LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Michael Gorzynski</signature>
        <title>Michael Gorzynski, Sole Manager</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>CONTINENTAL GENERAL INSURANCE CO</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Michael Gorzynski</signature>
        <title>Michael Gorzynski, Executive Chairman</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Continental Insurance Group, Ltd.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Michael Gorzynski</signature>
        <title>Michael Gorzynski, Chairman &amp; President</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Continental General Holdings LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Michael Gorzynski</signature>
        <title>Michael Gorzynski, Manager</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Gorzynski Michael</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Michael Gorzynski</signature>
        <title>Michael Gorzynski</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
