United States securities and exchange commission logo
May 11, 2023
Ming Yang
Chief Financial Officer
DAQO NEW ENERGY CORP.
Unit 29, Huadu Mansion, 838 Zhangyang Road
Shanghai 200122
Re: DAQO NEW ENERGY
CORP.
Form 20-F for the
Fiscal Year Ended December 31, 2022
Filed April 27,
2023
File No. 1-34602
Dear Ming Yang:
We have limited our review of your filing to the financial
statements and related
disclosures and have the following comments. In some of our comments, we
may ask you to
provide us with information so we may better understand your disclosure.
Please respond to these comments within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If
you do not believe our
comments apply to your facts and circumstances, please tell us why in
your response.
After reviewing your
response to these comments, we may have additional comments.
Form 20-F for the Fiscal Year Ended December 31, 2022
Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent
Inspections, page 97
1. We note your statement
that you reviewed your register of members and public filings
made by your
shareholders in connection with your required submission under paragraph
(a). Please
supplementally describe any additional materials that were reviewed and tell us
whether you relied upon
any legal opinions or third party certifications such as affidavits
as the basis for your
submission. In your response, please provide a similarly detailed
discussion of the
materials reviewed and legal opinions or third party certifications relied
upon in connection with
the required disclosures under paragraphs (b)(2) and (3).
2. Please note that Item
16I(b) requires that you provide disclosures for yourself and your
consolidated foreign
operating entities, including variable interest entities or similar
structures. With
respect to (b)(2), we note that your disclosure refers to jurisdictions
where you and your
subsidiaries are incorporated. Please supplementally clarify the
jurisdictions in which
your material consolidated foreign operating entities are organized
Ming Yang
DAQO NEW ENERGY CORP.
May 11, 2023
Page 2
or incorporated and confirm, if true, that you have disclosed the
percentage of your shares
or the shares of your consolidated operating entities owned by
governmental entities in
each foreign jurisdiction in which you have consolidated operating
entities. Alternatively,
please provide this information in your supplemental response.
3. In order to clarify the scope of your review, please supplementally
describe the steps you
have taken to confirm that none of the members of your board or the
boards of your
consolidated foreign operating entities are officials of the Chinese
Communist Party. For
instance, please tell us how the board members current or prior
memberships on, or
affiliations with, committees of the Chinese Communist Party factored
into your
determination. In addition, please tell us whether you have relied
upon third party
certifications such as affidavits as the basis for your disclosure.
4. With respect to your disclosure pursuant to Item 16I(b)(5), we note
that you have included
language that such disclosure is to our best knowledge . Please
supplementally confirm
without qualification, if true, that your articles and the articles of
your consolidated
foreign operating entities do not contain wording from any charter of
the Chinese
Communist Party.
In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.
Contact Jennifer Thompson at (202) 551-3737 or Dan Morris at (202)
551-3314 if you
have any questions about comments related to your status as a
Commission-Identified Issuer
during your most recently completed fiscal year. You may contact Mindy Hooker
at (202) 551-
3732 or Jean Yu at (202) 551-3305 with any other questions.
FirstName LastNameMing Yang Sincerely,
Comapany NameDAQO NEW ENERGY CORP.
Division of
Corporation Finance
May 11, 2023 Page 2 Office of
Manufacturing
FirstName LastName