Exhibit 4.26


(Summary Translation)


 


	
        Loan Agreement with China Minsheng Bank, Urumqi Branch

         

	Date of the Agreement	
        September 3, 2019

         

	Borrower (Party A)	
        Xinjiang Daqo New Energy Co., Ltd.

         

	Lender (Party B)	
        China Minsheng Bank, Urumqi Branch

         

	Use of loan proceeds	
        Payment for raw materials and supplementary materials, utilities
        and other operational purposes

         

	Amount of principal	
        RMB30 million

         

	Term of loan	
        12 months

         

	Interest rate	
        Fixed rate at 5.22% per annum 

         

	Repayment of interest	
        Interest shall be paid quarterly at the 20th at the
        last month of each quarter

         

	Repayment of principal	
        Principal shall be repaid in full by the maturity date of the
        loan

         

	Party A’s covenants	
        (1) Party A undertakes that the loan proceeds shall be used
        in strict accordance with this Agreement and the purpose prescribed by the laws of the PRC;

         

        (2) Party A shall accept the investigation, enquiry and supervision
        of Party B in respect of the use of proceeds under this Agreement;

         

        (3) Party A shall furnish to Party B copies of financial reports
        such as balance sheet, income statement, statement of cash flow;

         

        (4) Party A shall promptly inform Party B in writing of any
        occurrence of an event threatening its normal operation or inhibiting its performance of the repayment obligations under this Agreement;

         

        (5) Party A shall give Party B at least 30 days’ notice
        and obtain the written consent from Party B before conducting any reorganization, disposal of any of its material assets or investments,
        provision of guarantee or collateral, or any other activities leading to significant disputes, administrative punishment, threats
        to the daily operation or deterioration of Party A’s solvency; and

         

        (6) Should there be any changes in the registered address, company
        name or legal representative and senior officers of Party A during the term of this Agreement, a written notice should be given
        to Party B within seven days after the change is made.

         




 






    


     


    

 


	Party B’s rights and obligations	
        (1) Party B is obliged to keep the information obtained under
        or in connection with this Agreement concerning Party A’s (including but not limited to Party A’s liabilities, finance,
        production, and operations) secure and confidential. Without prior consent of Party A, Party B shall not disclose any of the aforementioned
        information to any other parties, subject to certain specific conditions;

         

        (2) Party B is entitled to conduct investigation and inspection
        of and supervision over Party A’s operations, guarantee provision and economic disputes involving Party A;

         

        (3) Party B is entitled to demand an early repayment of the
        loan in light of the financial condition of Party A; and

         

        (4) Party B is entitled to participate in Party A’s financing,
        asset disposition, merger, spin-off, corporate restructuring or winding-up.

         

	Breach 	
        Party B is entitled to exercise its rights under this Agreement,
        require Party A to provide security, declare the outstanding loans immediately due in whole or in part, or demand repayment of
        the loans prior to the maturity date, upon the occurrence of any or more of the following events:

         

        (1) Party A fails to repay the loan in time in accordance with
        this Agreement;

         

        (2) Party A provides false financial information or omit material
        facts; or any representation or warranty made by Party A in this Agreement is false, incorrect or misleading in any material respect;

         

        (3) Party A rejects investigation, enquiry and supervision in
        connection with Party A’s use of proceeds, business operation or financial activities;

         

        (4) Party A explicitly or implicitly indicates that it will
        not perform this Agreement;

         

        (5) Party A fails to use the proceeds or draw down the loan
        in accordance with this Agreement;

         

        (6) There is a material change in Party A’s financial
        condition, or there is a material adverse change in the guarantee (such as the guarantee becoming null or invalid or revoked);

         

        (7) Party A takes measures to evade repayment of the loan; or

         

        (8) Other events caused by Party A’s violation of the
        Agreement, which will have a materially adverse effect on Party A’s solvency.

         



 






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