Daqo New Energy Corp. (NYSE: DQ) ("Daqo New Energy" or the "Company"), a leading manufacturer of high-purity polysilicon for the solar PV industry, today announced that the Company's board of directors has approved its Phase 3A expansion project, which is expected to increase the polysilicon production capacity at the Company's Xinjiang manufacturing site from the current level of 12,150 metric tons (MT) to 18,000 MT. The Company currently expects capital expenditures for the expansion project to be approximately RMB620 million, having benefitted from the Company's ability to reutilize all possible idle polysilicon manufacturing equipment and related assets in Chongqing, as well as the existing shared facilities in Xinjiang.