Document:

Exhibit 10.1

 

Letter of Undertaking on the Authenticity,
Accuracy, and Completeness of the Prospectus

 

Whereas Xinjiang Daqo New Energy
Co., Ltd (hereinafter referred to as the “Issuer”) intends to apply for an initial public offering of shares
and to be listed on the Shanghai Stock Exchange’s STAR Market (hereinafter referred to as the “IPO”),
Daqo New Energy Corp. (hereinafter referred to as the “Company”), as the controlling shareholder of the Issuer,
makes the following representations and warranties:

 

There are no false statements, misleading
statements, or material omissions in the Issuer’s prospectus, and the Company shall ensure that the disclosures in the prospectus
are true, accurate and complete.

 

If any false statements, misleading statements,
or material omissions in the Issuer’s prospectus have a significant and substantive impact on whether the Issuer meets the
offering conditions prescribed by law, the Company will repurchase the original restricted shares disposed of by the Company within
30 days after the China Securities Regulatory Commission, or the relevant stock exchange, court or other competent authority has
determined or issued a punishment notice on the aforementioned facts in accordance with the law. The repurchase price will be determined
according to the secondary market price at that time, and not lower than the issue price plus bank deposit interest in the same
period.

 

(If any ex-rights or ex-dividend
matters of the Issuer’s stock occur, such as dividend distribution, stock dividend and the capitalization of capital reserve,
the issue price will be adjusted accordingly). The repurchased shares include the original restricted shares and their successor
shares. At the same time, as the controlling shareholder of the Issuer, the Company will urge the Issuer to repurchase all new
shares and successor shares of the initial public offering in accordance with the law.

 

If any false statements, misleading
statements, or material omissions in the Issuer’s prospectus cause any investors to suffer any losses in securities trading,
the Company will compensate such investors for the losses in accordance with the law.

 

This letter of undertaking takes effect
upon being signed by the Company.

 

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left blank]

 

    

     

    

 

	 	DAQO NEW ENERGY CORP.
	 	 	 
	 	By:	/s/ Longgen Zhang
	 	Name: 	Longgen Zhang
	 	Title: 	Director and Chief Executive Officer
	 	Date: 	September 8, 2020Exhibit 10.2

 

Letter of Undertaking on Stabilizing
the Company’s Stock Price

 

Whereas Xinjiang Daqo New Energy
Co., Ltd (hereinafter referred to as the “Issuer”) intends to apply for an initial public offering and listing
of its shares on the SSE STAR Market (hereinafter referred to as the “IPO”), Daqo New Energy Corp. (hereinafter
referred to as the “Company”), as the controlling shareholder of the Issuer, hereby makes the following undertakings:

 

1. Within three years after the
IPO, if the closing prices of the Issuer’s stock for 20 consecutive trading days are lower than the Issuer’s latest
audited net assets per share (if, after the latest benchmark audit date, the Issuer’s net assets change due to dividend distribution,
capitalization from capital reserve, issuance of additional shares, or rights issues, the net assets per share shall be adjusted
accordingly), and the Issuer also meets the regulatory requirements for any changes in equity (such as share repurchases and increases
in share capital), the Issuer and the related parties shall, in accordance with the stock price stabilization plan reviewed and
approved by the Issuer’s board of directors and at a shareholders’ meeting, take one or more of the following measures
to stabilize the Issuer’s stock price in the following order:

 

(1) The Issuer repurchases its
stock;

(2) The controlling shareholder
of the Issuer increases its shareholding in the Issuer;

(3) The Issuer’s directors
(excluding independent directors and directors who do not receive remuneration from the Issuer) and senior management members increase
their shareholding in the Issuer.

 

2. If the measures triggered
to stabilize the Issuer’s stock price require the Issuer’s controlling shareholder to increase its shareholding in
the Issuer, the Company will do so unconditionally in accordance with the Issuer’s stock price stabilization plan. If the
Company fails to fulfill the obligation to increase its shareholding, within five business days from the date when the relevant
undertaking is violated, the Company shall cease to receive any dividends from the Issuer and shall not dispose of its shares in
the Issuer until it takes the corresponding measures to increase its shareholding in the Issuer and consummates the increase in
accordance with its undertakings.

 

This letter of undertaking takes
effect upon being signed by the Company.

 

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left blank]

 

    

     

    

 

	 	DAQO NEW ENERGY CORP.
	 	 
	 	By:	/s/ Longgen Zhang
	 	Name:	Longgen Zhang
	 	Title:	Director and Chief Executive Officer
	 	Date:	September 7, 2020Exhibit 10.3

 

 

Letter of Undertaking on the
Resale Restriction and Voluntary Lock-Up of the Shares Held

 

Whereas Xinjiang Daqo New Energy
Co., Ltd (hereinafter referred to as the “Issuer”) intends to apply for an initial public offering and listing
of its shares on the SSE STAR Market (hereinafter referred to as the “IPO”), Daqo New Energy Corp. (hereinafter
referred to as the “Company”), as the controlling shareholder of the Issuer, pursuant to the relevant laws and
regulations and the rules of China Securities Regulatory Commission, voluntarily undertakes as follows:

 

1. Within 36 months from the
date of the IPO, the Company shall not transfer or entrust others to manage the Company’s directly or indirectly held shares
issued before the IPO, nor propose that the Issuer repurchase these shares directly or indirectly held by the Company.

 

2. Within six months after the
IPO, if the closing prices of the Issuer’s stock for 20 consecutive trading days are lower than the issue price, or at the
end of the six-month period after the IPO (or, if that day is not a trading day, the first trading day after that day), the closing
price is lower than the issue price, the lockup period of the shares issued by the Issuer and held by the Company before the IPO
shall be automatically extended for six months.

 

3. During the period when the
Company is recognized as the Issuer’s controlling shareholder, the Company will report to the Issuer the shares held by the
Company and any of their changes.

 

The Company agrees to bear and
compensate the Issuer for all losses, harm, and expenses caused to the Issuer due to any violation of the above undertakings.

 

This letter of undertaking takes
effect upon being signed by the Company.

 

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left blank]

 

    

     

    

 

	 	DAQO NEW ENERGY CORP.

 

	 	By:	/s/ Longgen Zhang
	 	Name:	Longgen Zhang
	 	Title:	Director and Chief Executive Officer
	 	Date:	September 7, 2020Exhibit 10.4 

 

Letter of Undertaking on the
Intent to Reduce Shareholding

 

Whereas Xinjiang Daqo New Energy Co., Ltd
(hereinafter referred to as the “Issuer”) intends to apply for an initial public offering and listing of its
shares on the Shanghai Stock Exchange’s STAR Market (hereinafter referred to as the “IPO”), Daqo New Energy
Corp. (hereinafter referred to as the “Company”), as the controlling shareholder of the Issuer, hereby makes
the following undertakings on its intent of holding and reducing its shareholding in the Issuer:

 

After the IPO of the Issuer, the Company
may reduce its shareholding in the Issuer as needed after the lock-up period expires. If the Company reduces its shareholding after
the expiry of the lock-up period, the Company will comply with the relevant regulations of the China Securities Regulatory Commission
and the Shanghai Stock Exchange on shareholder reduction and information disclosure. The specific arrangements for the Company
to reduce its shareholding within two years from the date of expiry of the lock-up period are as follows:

 

1. Amount of shareholding reduction:
the Company intends to reduce its shareholding within two years after the expiry of the lock-up period, and the amount of shareholding
reduction each year shall not exceed 10% of the Issuer’s stock held by the Company upon the IPO or immediately before the
IPO (and if any ex-rights or ex-dividend matters of the Issuer’s stock occur, such as dividend distribution, allocation of
bonus shares and capitalization of capital reserve, such amount of shares will be adjusted accordingly); if the Company intends
to reduce its shareholding after two years after the expiry of the lock-up period, the amount of shareholding reduction will be
published before the reduction;

 

2. Method of shareholding reduction:
the Company shall comply with the relevant laws and regulations regarding share transfers, including using the centralized bidding
trading system of the stock exchange, the block trading system, or through privately negotiated agreements; however, if the Company
expects that the total amount of stock that has been released for sale in the next month exceeds 1% of the Issuer’s total
stock, it will not transfer its stock through the centralized bidding trading system of the stock exchange;

 

3. Price of shareholding reduction:
if the shareholding is reduced within two years after the expiry of the lockup period, the price of the shareholding reduction
shall not be less than 100% of the issue price (and if any ex-rights or ex-dividends matters of the Issuer’s stocks occur,
such as dividend distribution, allocation of bonus shares and capitalization of capital reserve, the issue price will be adjusted
accordingly); if the shareholding is reduced two years after the expiry of the lockup period, the reduction price shall comply
with relevant laws and regulations;

 

4. Time limit of shareholding
reduction: the time limit for the reduction shall be six months after the announcement of the shareholding reduction plan. After
the time limit for the reduction expires, if the Company continues to reduce its shareholding, a shareholding reduction announcement
shall be carried out again in accordance with the above arrangement.

 

If the Company fails to fulfill
the aforementioned commitments, the proceeds obtained from any violation of the above commitments belong to the Issuer.

 

This letter of undertaking takes
effect upon being signed by the Company.

 

    

     

    

 

	 	DAQO NEW ENERGY CORP.

 

	 	By:	/s/ Longgen Zhang
	 	Name:	Longgen Zhang
	 	Title:	Director and Chief Executive Officer
	 	Date:	September 7, 2020

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