[TABLE OF CONTENTS INTRODUCTION 1 2 PART I 3 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 3 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 3 ITEM 3. KEY INFORMATION 3 ITEM 4. INFORMATION ON THE COMPANY 29 ITEM 4A. UNRESOLVED STAFF COMMENTS 43 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 43] [Loan agreement with Industrial Bank Co., Ltd., Urumqi Branch Date of the Agreement April 30, 2015 Lender Industrial Bank Co., Ltd., Urumqi Branch Borrower (Party B) Xinjiang Daqo New Energy Co., Ltd. Type of loan Working capital Amount RMB 100 million Term of loan 12 months, from 2015 to 2016 Interest rate Benchmark rate multiplied by 1.2 Penalty rate In] [Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch Date of the Agreement June 24, 2015 Lender (Party A) Chongqing Rural Commercial Bank, Wanzhou Branch Borrower (Party B) Xinjiang Daqo New Energy Co., Ltd. Type of loan Fixed assets Use of loan Polysilicon manufacturing energy-saving technology improvement project Amount RMB 65 million Term of loan 6 years, from June 25,] [Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch Date of the Agreement July 16, 2015 Lender (Party A) Chongqing Rural Commercial Bank, Wanzhou Branch Borrower (Party B) Xinjiang Daqo New Energy Co., Ltd. Type of loan Working capital Use of loan Purchase raw materials and other operating working capital Amount RMB 88 million Term of loan 1 year, from] [Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch Date of the Agreement July 23, 2015 Lender (Party A) Chongqing Rural Commercial Bank, Wanzhou Branch Borrower (Party B) Xinjiang Daqo New Energy Co., Ltd. Type of loan Working capital Use of loan Purchase raw materials and other operating working capital Amount RMB 28.65 million Term of loan 12 months, from] [Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch Date of the Agreement September 16, 2015 Lender (Party A) Chongqing Rural Commercial Bank, Wanzhou Branch Borrower (Party B) Xinjiang Daqo New Energy Co., Ltd. Type of loan Working capital Use of loan Payments for salary, electricity and raw materials Amount RMB 50.35 million Term of loan 12 months, from September] [Loan agreement with Chongqing Rural Commercial Bank, Wanzhou Branch Date of the Agreement October 14, 2015 Lender (Party A) Chongqing Rural Commercial Bank, Wanzhou Branch Borrower (Party B) Xinjiang Daqo New Energy Co., Ltd. Type of loan Working capital Use of loan Purchase raw materials and other operating working capital Amount RMB 33 million Term of loan 12 months, from] [Letter of Support TO THE BOARD OF DIRECTORS OF We, as major shareholders, acknowledge the net current liability position of Daqo New Energy Corp. as of December 31, 2015 and agree to provide necessary financial support to Daqo New Energy Corp. and its subsidiaries through Daqo Group Co., Ltd. ("Daqo Group"), another company wholly owned by the shareholders of us] [List of Subsidiaries Subsidiaries Jurisdiction of Incorporation: Chongqing Daqo New Energy Co., Ltd. People’s Republic of China Xinjiang Daqo New Energy Stock Co., Ltd. (formerly known as Xinjiang Daqo New Energy Co., Ltd.) People’s Republic of China] [I, Gongda Yao, certify that: 1. I have reviewed this annual report on Form 20-F of Daqo New Energy Corp.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were] [Certification by the Principal Financial Officer I, Ming Yang, certify that: 1. I have reviewed this annual report on Form 20-F of Daqo New Energy Corp.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the] [(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. April 7, 2016 Gongda Yao Chief Executive Officer] [Certification by the Principal Financial Officer (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. April 7, 2016 Ming Yang Chief Financial Officer] [CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We consent to the incorporation by reference in Registration Statements on Form S-8 (No. 333-172234 and No. 333-205547) and on Form F-3 ((No. 333-195239 and No. 333-201223) of our reports dated April 7, 2016, relating to the consolidated financial statements and financial statement schedule of Daqo New Energy Corp. and subsidiaries (the “Company”)]