China Economic Net, Beijing, December 9 - Daqo Energy (688303.SH) 268,009 equity incentive shares were listed and circulated today.

On October 30, 2024, Daqo Energy held the 13th meeting of the 3rd Board of Directors and the 12th meeting of the 3rd Board of Supervisors, and deliberated and approved the "Proposal on Abolishing Part of the Restricted Shares Granted but Not Vested in the 2022 Restricted Stock Incentive Plan" and "Proposal on the Achievement of the Vesting Conditions in the Second Vesting Period of the Company's 2022 Restricted Stock Incentive Plan". The vesting conditions for the second vesting period of Daqo Energy's 2022 restricted stock incentive plan (hereinafter referred to as the "incentive plan" or "incentive plan") have been fulfilled.

Recently, Daqo Energy received the "Securities Change Registration Certificate" issued by China Securities Depository and Clearing Co., Ltd. Shanghai Branch, and completed the share registration of the second vesting period of the 2022 restricted stock incentive plan.

The number of incentive recipients of the restricted stock vesting is 46.

The number of restricted shares vested this time is 268,009 shares, accounting for about 0.0125% of the total share capital of Daqo Energy before vesting. The source of the shares involved in this incentive plan is Daqo Energy's directional issuance of A ordinary shares of the company to the incentive recipients.

As a result of the vesting of restricted shares, the total share capital of Daqo Energy increased from 2,144,937,715 shares to 2,145,205,724 shares. This vesting did not result in a change in the control of Daqo Energy.

Daqo Energy was listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange on July 22, 2021, with a public offering of 300,000,000 shares and an issue price of RMB 21.49 per share.

Daqo Energy's initial public offering of shares raised a total of 644,700.00 million yuan, and the net amount of funds raised was 6,067,191,800 yuan, which was 1,067,191,800 yuan more than the original plan. According to the prospectus disclosed by Daqo Energy on July 19, 2021, the company intends to raise funds of 500,000.00 yuan, which is planned to be used for a project with an annual output of 1,000 tons of high-purity semiconductor materials, a project with an annual output of 35,000 tons of polysilicon, and replenishment of working capital.

The total issuance expenses of Daqo Energy's initial public offering of shares were 379.8082 million yuan, of which the sponsorship and underwriting expenses were 344.32 million yuan.

Daqo Energy issued A-shares to specific targets in 2022. According to the "Reply on Agreeing to the Registration of Xinjiang Daqo New Energy Co., Ltd. to Issue Shares to Specific Targets" (Zheng Jian Xu Xu [2022] No. 1119) issued by the China Securities Regulatory Commission, it is agreed that the company will issue A shares to specific targets. Daqo Energy has actually issued 212,396,215 RMB ordinary shares (A shares) (par value of RMB 1.00 per share) to specific targets at an issue price of RMB 51.79 per share. The total amount of funds raised by the Company in this offering is RMB10,999,999,974.85, deducting the issuance expenses of RMB63,227,799.87 excluding tax, and the net amount of funds raised is RMB10,936,772,174.98 (excluding the input VAT related to the issuance expenses). The above funds were fully received on June 28, 2022, and were verified by Deloitte Touche Tohmatsu Certified Public Accountants (Special General Partnership) and issued a capital verification report of Deshi Bao (Inspection) Zi (22) No. 00299. As of December 31, 2023, Daqo Energy has used a total of RMB 10,953,146,619.15 of the raised funds. In 2022, all the funds actually raised from the issuance of A-shares to specific targets have been put into use. Currently, the stock price is trading below the offer price.

Daqo Energy raised a total of 17.447 billion yuan in two times.