# EDGAR Filing Document

**Accession Number:** 0001477641
**File Stem:** 0000921895-25-003018
**Filing Date:** 2025-11
**Character Count:** 17778
**Document Hash:** 0f38ff845b588a906630717f7f933531
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-25-003018.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0000921895-25-003018

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DAQO NEW ENERGY CORP.
- **CENTRAL INDEX KEY:** 0001477641
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-85938
- **FILM NUMBER:** 251478413

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 666 LONGDU AVENUE
- **CITY:** WANZHOU, CHONGQING
- **PROVINCE COUNTRY:** F4
- **BUSINESS PHONE:** (86-23) 6486-6666

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 666 LONGDU AVENUE
- **CITY:** WANZHOU, CHONGQING
- **PROVINCE COUNTRY:** F4
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CONTINENTAL GENERAL INSURANCE CO
- **CENTRAL INDEX KEY:** 0000024046
- **STANDARD INDUSTRIAL CLASSIFICATION:** LIFE INSURANCE [6311]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 470463747
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G/A

**BUSINESS ADDRESS:**
- **STREET 1:** 11001 LAKELINE BLVD., STE. 120
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78717
- **BUSINESS PHONE:** 4023973200

**MAIL ADDRESS:**
- **STREET 1:** 11001 LAKELINE BLVD., STE. 120
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78717

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Issuer:** DAQO NEW ENERGY CORP.

**Title of Class of Securities:** Ordinary Shares, par value $0.0001 per share

**CUSIP Number:** 23703Q203

**Date of Event Which Requires Filing of this Statement:** 09/30/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Percy Rockdale LLC | Names of Reporting Persons<br>Percy Rockdale LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>MI | Citizenship or Place of Organization<br>MI |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>166030.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>166030.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>166030.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>166030.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.05% | Percent of Class Represented by Amount in Row (9)<br>0.05% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** Represents Shares (as defined below) underlying 33,206 ADSs (as defined below). Each ADS represents five Shares.

---

| 1. | Names of Reporting Persons<br>CONTINENTAL GENERAL INSURANCE CO | Names of Reporting Persons<br>CONTINENTAL GENERAL INSURANCE CO |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>TX | Citizenship or Place of Organization<br>TX |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>33209930.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>33209930.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33209930.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33209930.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.95% | Percent of Class Represented by Amount in Row (9)<br>9.95% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** Represents Shares underlying 6,641,986 ADSs. Each ADS represents five Shares.

---

| 1. | Names of Reporting Persons<br>Continental Insurance Group, Ltd. | Names of Reporting Persons<br>Continental Insurance Group, Ltd. |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>33209930.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>33209930.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33209930.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33209930.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.95% | Percent of Class Represented by Amount in Row (9)<br>9.95% |
| 12. | Type of Reporting Person (See Instructions)<br>CO | Type of Reporting Person (See Instructions)<br>CO |

**Comment for Type of Reporting Person:** Represents Shares underlying 6,641,986 ADSs. Each ADS represents five Shares.

---

| 1. | Names of Reporting Persons<br>Continental General Holdings LLC | Names of Reporting Persons<br>Continental General Holdings LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>MI | Citizenship or Place of Organization<br>MI |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>33209930.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>33209930.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33209930.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33209930.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.95% | Percent of Class Represented by Amount in Row (9)<br>9.95% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** Represents Shares underlying 6,641,986 ADSs. Each ADS represents five Shares.

---

| 1. | Names of Reporting Persons<br>Gorzynski Michael | Names of Reporting Persons<br>Gorzynski Michael |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [ ] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>33375960.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0.00 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>33375960.00 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33375960.00 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>33375960.00 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>9.99% | Percent of Class Represented by Amount in Row (9)<br>9.99% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** Represents Shares underlying 6,675,192 ADSs. Each ADS represents five Shares.

---

**Item 1(a). Name of Issuer:**
DAQO NEW ENERGY CORP.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
—

**Item 2(a). Name of Person Filing:**
The names of the persons filing this statement on Schedule 13G (collectively, the "Reporting Persons") are:

Percy Rockdale LLC ("Percy Rockdale"),

Continental General Insurance Company ("CGIC"),

Continental Insurance Group, Ltd. ("CIG"),

Continental General Holdings LLC ("CGH"), and

Michael Gorzynski ("Mr. Gorzynski").

**Item 2(b). Address of Principal Business Office:**
The address of the principal office for Percy Rockdale and Mr. Gorzynski is 595 Madison Avenue, 30th Floor, New York, NY 10022. The principal business address for each of CGIC, CIG and CGH is 11001 Lakeline Blvd., Ste. 120, Austin, TX 78717.

**Item 2(c). Citizenship:**
Each of Percy Rockdale and CGH is a Michigan limited liability company. CIG is a Delaware corporation. CGIC is a Texas domiciled life and health insurance company. Mr. Gorzynski is a citizen of the United States of America and Poland.

**Item 2(d). Title of Class of Securities:**
Ordinary Shares, par value $0.0001 per share

**Item 2(e). CUSIP Number:**
23703Q203

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

The Reporting Persons own American Depositary Shares of the Issuer ("ADSs"), as set forth herein. Each ADS represents five of the Issuer's Ordinary Shares, par value $0.0001 per share (the "Shares").
As of the close of business on September 30, 2025:
(i) Percy Rockdale directly beneficially owned 166,030 Shares underlying ADSs it directly owned.
(ii) CGIC directly beneficially owned 33,209,930 Shares underlying ADSs it directly owned.
(iii) As the sole owner of CGIC, CIG may be deemed the beneficial owner of the 33,209,930 Shares underlying ADSs beneficially owned by CGIC.
(iv) As the sole owner of CIG, CGH may be deemed the beneficial owner of the 33,209,930 Shares underlying ADSs beneficially owned by CGIC.
(v) As the sole Manager of Percy Rockdale and as a manager and Executive Chairman of CGH, Mr. Gorzynski may be deemed to beneficially own 33,375,960 Shares, consisting of (i) the 166,030 Shares underlying ADSs directly beneficially owned by Percy Rockdale and (ii) the 33,209,930 Shares underlying ADSs directly beneficially owned by CGIC.

**(b) Percent of class:**

The following percentages are based on 333,759,632 Shares outstanding, which is the total number of Shares outstanding as of December 31, 2024, as disclosed in the Issuer's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 29, 2025.
As of the close of business on September 30, 2025:
(i) Percy Rockdale may be deemed to beneficially own approximately 0.05% of the outstanding Shares;
(ii) CGIC may be deemed to beneficially own approximately 9.95% of the outstanding Shares;
(iii) CIG may be deemed to beneficially own approximately 9.95% of the outstanding Shares;
(iv) CGH may be deemed to beneficially own approximately 9.95% of the outstanding Shares; and
(v) Mr. Gorzynski may be deemed to beneficially own approximately 9.99% of the outstanding Shares.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See Cover Pages Items 5-9.

**(ii) Shared power to vote or to direct the vote:**

See Cover Pages Items 5-9.

**(iii) Sole power to dispose or to direct the disposition of:**

See Cover Pages Items 5-9.

**(iv) Shared power to dispose or to direct the disposition of:**

See Cover Pages Items 5-9.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

See Exhibit 99.1 to the Schedule 13G filed by the Reporting Persons with the Securities and Exchange Commission on March 25, 2024

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Percy Rockdale LLC**

**Date:** 11/13/2025

**By:** /s/ Michael Gorzynski

**Name & Title:** Michael Gorzynski, Sole Manager

**CONTINENTAL GENERAL INSURANCE CO**

**Date:** 11/13/2025

**By:** /s/ Michael Gorzynski

**Name & Title:** Michael Gorzynski, Executive Chairman

**Continental Insurance Group, Ltd.**

**Date:** 11/13/2025

**By:** /s/ Michael Gorzynski

**Name & Title:** Michael Gorzynski, Chairman & President

**Continental General Holdings LLC**

**Date:** 11/13/2025

**By:** /s/ Michael Gorzynski

**Name & Title:** Michael Gorzynski, Manager

**Gorzynski Michael**

**Date:** 11/13/2025

**By:** /s/ Michael Gorzynski

**Name & Title:** Michael Gorzynski