About Xinjiang Daqo New Energy Co.Ltd(688303)
Issuance of A-Shares to specific objects in 2022
Listing recommendation
Sponsor
(27th and 28th floors, building 2, international trade building, No. 1 Jianguomenwai street, Chaoyang District, Beijing) February, 2002
China Securities Regulatory Commission and Shanghai Stock Exchange:
China International Capital Corporation Limited(601995) (hereinafter referred to as “the sponsor”) accepts the entrustment of Xinjiang Daqo New Energy Co.Ltd(688303) (hereinafter referred to as ” Xinjiang Daqo New Energy Co.Ltd(688303) “, “the issuer” or “the company”) to issue this listing recommendation letter on the issue of A-Shares issued by the issuer to specific objects in 2022 (hereinafter referred to as “the offering”).
In accordance with the company law of the people’s Republic of China (hereinafter referred to as the “company law”), the securities law of the people’s Republic of China (hereinafter referred to as the “Securities Law”) and the measures for the administration of securities issuance and listing recommendation business (hereinafter referred to as the “recommendation measures”) The measures for the administration of securities issuance and registration of listed companies on the science and Innovation Board (for Trial Implementation) (hereinafter referred to as the “measures for the administration of registration”) and the rules for the listing of shares on the science and Innovation Board of Shanghai Stock Exchange (hereinafter referred to as the “Listing Rules”) and other relevant laws and regulations are honest, trustworthy, diligent and responsible, This listing recommendation letter is issued in strict accordance with the business rules and industry self-discipline norms formulated according to law, and the documents issued are true, accurate and complete.
(unless otherwise specified in this listing recommendation letter, relevant terms have the same meaning as China International Capital Corporation Limited(601995) due diligence report on Xinjiang Daqo New Energy Co.Ltd(688303) 2022 issuance of A-Shares to specific objects.)
1、 Profile of the issuer (I) basic information of the issuer
Company name: Xinjiang Daqo New Energy Co.Ltd(688303)
English Name: Xinjiang daqo new energy Co., Ltd
Registered address: No. 16, Weiliu Road, new chemical materials Industrial Park, Shihezi Economic Development Zone, Xinjiang Uygur Autonomous Region registered time: February 22, 2011
Registered capital: 1925000000 yuan
Legal representative: Xu Guangfu
Listing time: July 22, 2021
Listed sector: Science and Innovation Board of Shanghai Stock Exchange
Business scope: production, processing and sales of polysilicon, silicon core, silicon wafer, photovoltaic cells, photovoltaic modules and photovoltaic power generation system products, production and sales of trichlorosilane, silicon tetrachloride, sodium hydroxide, hydrochloric acid and sodium hypochlorite, and production technology consulting services related to the above products; The import and export business of goods and technologies related to the production and operation of the enterprise (the commodities and technologies that must be specially approved by the state can only be engaged in business activities after obtaining relevant licenses. The specific business items shall be subject to the items specified in the license; the commodities and technologies involving quota license management and special regulation management shall be handled in accordance with the relevant provisions of the state). (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments)
Tel: 86-993-2706066
Postal Code: 832000
Fax No.: 86-993-2706088
Company website: https://www.xjdqsolar.com.
Email: [email protected].
Type of securities issuance: issuing A-Shares to specific objects
(II) main business
The company is mainly engaged in the R & D, manufacturing and sales of high-purity polysilicon. High purity polysilicon is the basic material of Cecep Solar Energy Co.Ltd(000591) photovoltaic industry, and its quality directly affects the key performance of downstream products. The high-purity polysilicon produced by the company is mainly used for the production of photovoltaic silicon wafers, which are applied to the production of downstream photovoltaic cells, photovoltaic cell modules, photovoltaic power generation systems and other Cecep Solar Energy Co.Ltd(000591) photovoltaic products. In recent years, with the reduction of monocrystalline silicon material and monocrystalline silicon production cost and the improvement of monocrystalline component efficiency, the cost performance of monocrystalline technology has gradually become prominent and has gradually become the mainstream technical route of the industry. Through technological upgrading and new projects put into operation, the output proportion of monocrystalline silicon wafer materials has gradually increased. At present, the company’s monocrystalline silicon wafer material output accounts for more than 99% of the total output.
The company is one of the earliest enterprises engaged in R & D and manufacturing of high-purity polysilicon in China. Since its establishment in 2011, the company has been focusing on the R & D, manufacturing and sales of high-purity polysilicon closely around the national new energy strategic planning, relying on continuous R & D investment and technological innovation, combined with the advantages of low-cost energy and the cluster advantage of silicon industrial base, and its main business has not changed significantly.
At the beginning of its establishment, the company introduced advanced equipment and production technology in the industry, and through continuous independent innovation, realized closed-loop operation to prepare high-purity polycrystalline silicon. The production process has high material utilization, low energy consumption, green environmental protection, stable product quality, and the proportion of monocrystalline silicon materials is at the advanced level in China. At present, the company has an annual capacity of 105000 tons of polysilicon. According to the data of silicon industry branch, China’s polysilicon output in 2021 was about 488000 tons, and the company’s polysilicon output in the corresponding period was 86600 tons, accounting for 17.75% of China’s polysilicon output. At the same time, the company has been highly recognized by customers in terms of product quality, professional technology and service response. It has established long-term and stable cooperative relations with Longi Green Energy Technology Co.Ltd(601012) , Ja Solar Technology Co.Ltd(002459) , Trina Solar Co.Ltd(688599) , Tianjin Zhonghuan Semiconductor Co.Ltd(002129) , Wuxi Shangji Automation Co.Ltd(603185) , Meike, Gaojing Cecep Solar Energy Co.Ltd(000591) and other leading enterprises in the photovoltaic industry, and has won market recognition and good industry reputation.
The company has strong product R & D ability and technological innovation ability. As of the signing date of the listing sponsor, the company has 189 patents, including 187 domestic patents and 2 domestic invention patents. Relying on the mature and stable improved Siemens cold hydrogenation process, through years of technical research and industrial construction, the company has successfully mastered the distillation coupling technology, silicon tetrachloride comprehensive utilization technology, polysilicon reduction furnace parameter formula and control technology, reduction furnace start-up technology, trichlorosilane boron and phosphorus removal technology, polysilicon production waste gas deep recovery technology Polysilicon crushing and screening technology and other key process technologies, and prepare polysilicon products with high quality, low energy consumption and low cost through information and intelligent production devices. (III) core technology and R & D level
1. Core technology
After continuous R & D and innovation and years of technology accumulation, the company has mastered distillation coupling technology, silicon tetrachloride comprehensive utilization technology, polysilicon reduction furnace parameter formula and control technology, reduction furnace start-up technology, trichlorosilane boron and phosphorus removal technology, deep recovery technology of waste gas from polysilicon production, polysilicon crushing and screening technology and other nuclear technologies involving the whole closed-loop process of polysilicon production
And continuously upgrade the production process and equipment to realize the industrialized application of the core technology.
Preface core technology advanced technology and core technology application core technology corresponding patent situation or technology technology content and characteristics description specific source production link non patent technology
name
This technology is mainly based on the requirements of polysilicon distillation impurity removal function
And combine the thermal characteristics to integrate the gas on the top of the main tower
Waste heat is used as heat source technology of reboiler of auxiliary tower. It mainly includes:
① The primary system of cold hydrogenation adopts two towers coupled in parallel
Distillation process is used to separate cold hydrogenated mixed chlorosilane
Tet, get TCS primary products; ② Crude distillation system,
Two tower differential pressure thermal coupling distillation process is adopted to improve
Pure TCS primary products get crude TCS intermediate products; ③
The distillation system adopts the three tower differential pressure thermal coupling distillation process to save heat energy. Because it involves the technology 1 coupling that is not suitable for public disclosure, it directly obtains high purity consumption for purifying crude TCS products, which is more refined than the content of conventional introduction and distillation, so it adopts the technology TCS products of trade secrets; ④ The reduction tail gas recovery system is protected by two distillation steam saving and about upgrading.
Column parallel coupled distillation and partition column process, the effect is 50%
Recovery of Tet and in mixed chlorosilane from off gas reduction
DCS to obtain TCS products; ⑤ High and low boiling recovery system,
The two tower coupled distillation process is adopted to recover other
The system produces TCS in high and low boiling; ⑥ Hydrogenation disproportionation
Tet purification system for separation and anti disproportionation adopts two towers
Coupled distillation is used to separate hydrogenation and anti disproportionation mixture
TCS product is obtained from the raw material, and the anti disproportionated tet raw material is processed
Purification.
This technology uses silicon tetrachloride as a method and device to inhibit the thermal decomposition and hydrogen reverse ① silicon tetrachloride and silicon tetrachloride in the hydrogenation reactor under the condition of high temperature and catalyst. The patented tetrachloride should obtain silicon trichloride. The by-product hydrogen chloride produced by it is recycled, and the comprehensive benefit number is 2011101349919;
Silicon carbide reacts with silicon powder and is used in a large amount of tetrachloride; The technology is based on the polycrystalline silicon 2 of the improved Siemens method. Under the inhibition of integrated silicon, all trichlorosilane is generated. ② low power consumption; Introduction of cold hydrogenation production method and polysilicon production equipment
A small amount of silicon dichloride by-product is produced in the utilization process, which is purified ③ silicon tetrachloride is upgraded and prepared, with patent No. 2014108339339; After the technology is further combined with silicon tetrachloride in a special catalyst, the next conversion rate is higher than that of a silicon tetrachloride hydrogenation unit, which is specially converted into trichlorosilane by anti disproportionation reaction. Li No.: 2012203384705;
Realize the full recovery of silicon tetrachloride, closed cycle comprehensive cooling device and the utilization of silicon tetrachloride hydrogenation system. Tong, patent No.: 2015206502764
Trichlorosilane is a special adsorbent, which can realize boron and phosphorus free in chlorosilane
Hydrogen silicon, boron, phosphorus and other impurities are directionally adsorbed to produce polycrystalline silicon, which is a purification process of polycrystalline silicon raw materials required by the content of polycrystalline silicon
3. The content of boron and phosphorus in boron removal products has been greatly reduced, reaching the regulation, meeting the high independent distillation technology, patent No. 20191034221x; Phosphorus technology to the requirements of electronic grade polysilicon for impurity phosphorus, so as to improve the content of pure silicon, develop resin impurity adsorption device, patent number, product grade and quality. Requirements, operation Ling 2018214136693
Live.
① In polysilicon also
This technology mainly uses the computer logic calculation function to optimize the position in the original furnace control
Polycrystalline control system realizes control flow; Combining chemistry and chemistry with China’s advanced technology,
The principles of silicon reduction, hydrodynamics and thermodynamics store the whole control and utilization of big data
Iterative analysis and processing of the original furnace process, fitting control process, data storage analysis and data
According to the parameter database, analyze, extract and integrate the database data into the authenticity, which can be used as the controllable data association group under the computer logic of reduction furnace parameter 4 formula in the independent polysilicon production process; High formulation availability; Research and develop the control method of reduction number formula, patent number and control simulation control to obtain the prediction results. ② formula simulation Department 2015108155931
Conversion of manufacturing technology and production; The flexibility of parameter adjustment is high, which can be adjusted according to the requirements of China
Independent development system for visualizing the operation state of the actual production process
Whole; The production process can be adjusted according to the needs of the market.
