Daqo New Energy Corp. appointed Mr. Longgen Zhang as the chief executive officer and executive board member with immediate effect. Concurrently, Mr. Guangfu Xu, the Company's Chairman and founder, has stepped down from his position as the acting chief executive officer.

Mr. Longgen Zhang has strong expertise across the global solar industry and financial markets. From 2008 to 2014, Mr. Zhang served as the chief financial officer of Jinko Solar. Prior to that, Mr. Zhang served as a director and the chief financial officer of Xinyuan Real Estate from 2006 to 2008.