Daqo New Energy Corp. is a manufacturer of high-purity polysilicon, a critical raw material used in solar photovoltaic modules, serving photovoltaic product manufacturers globally with the vast majority of sales to domestic Chinese solar manufacturers. The company generates revenue by producing and selling polysilicon directly to PV module makers, typically collecting advance customer payments before shipment and recognizing revenue upon delivery or customs clearance depending on the sales jurisdiction. Operating through subsidiaries in Xinjiang and Inner Mongolia that benefit from preferential enterprise income tax rates, the company's polysilicon production serves as an essential input material for the global solar energy supply chain.