Document:

Exhibit 10.5

 

Letter
of Undertaking on Avoiding Horizontal Competition

 

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, to avoid horizontal competition
with the Issuer, in accordance with the relevant laws and regulations, hereby makes the following undertakings:

 

1. The Company and its subsidiaries
other than the Issuer (including, same as all references to the Issuer below, the Issuer’s subsidiaries), are not currently
engaged in any form of business that competes or may compete, directly or indirectly, with the Issuer’s business or activity.

 

2. If the Issuer consummates
the IPO, the Company will take effective measures, and urge any company controlled by the Company to take effective measures, to
not:

(1) in any form, directly or
indirectly, engage in any business or activities that constitute or may be directly or indirectly competitive with the business
operated by the Issuer, or hold rights or interests in such business; or

(2) in any form, support others
than the Issuer to engage in business or activities that compete or may compete with the Issuer’s current or future businesses.

 

3. After the IPO, where the Company
and its controlled subsidiaries have any business opportunities to engage in, participate in, or invest in any business or activity
that may compete with the business operated by the Issuer, the Issuer shall have priority to pursue such business opportunities.

 

4. As the controlling shareholder
of the Issuer, the Company will not use the controlling shareholder status to, and will not through any subsidiary controlled by
the Company, engage in any business or activity that harms or may harm the interests of the Issuer.

 

The Company agrees to bear and
compensate the Issuer for all losses, harm, and expenses caused by any violation of the above undertakings, and the proceeds obtained
by the Company from any violation of the above undertakings will be vested with the Issuer.

 

This letter of undertaking takes
effect upon being signed by the Company, and is valid while the Company is the controlling shareholder of the Issuer.

 

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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 10.6

 

Letter of Undertaking on Regulating
Related Party Transactions

 

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, to
regulate the related party transactions with the Issuer, hereby makes the following undertakings:

 

1. The Company will strictly
follow the PRC Company Law and other laws and regulations as well as the Issuer’s articles of association to exercise shareholder
rights and perform shareholder obligations, fully respect the Issuer’s independent legal person status, ensure that the Issuer
operates independently and makes decisions independently, and urge the Issuer’s directors and supervisors (if any) nominated
by the Company to perform their duties of loyalty and diligence in accordance with the law.

 

2. To procure that the Company
and companies, enterprises, other economic organizations, and individuals that become affiliates of the Issuer due to a specific
relationship with the Company (hereinafter collectively referred to as the “Related Parties of the Company”)
try not to increase unnecessary related party transactions and try to ensure compliance of the related party transactions with
the Issuer in the future. Regarding the necessary related party transactions, the Company and the Related Parties of the Company
shall perform relevant procedures in accordance with the relevant laws and regulations, the Issuer’s articles of association
and relevant policies, and in accordance with fair, equitable, and normal commercial terms, to ensure that the legitimate rights
and interests of the Issuer and other shareholders will not be harmed.

 

3. To ensure that the Company
and the Related Parties of the Company strictly perform various related party transaction agreements entered into with the Issuer
in good faith, and that the Company and the Related Parties of the Company will not seek any interests or benefits from the Issuer
beyond the provisions of such agreements.

 

4. If the Company violates the
above representations and undertakings, the Issuer and other shareholders of the Issuer will have the right to, in accordance with
to this letter and applicable laws, seek to enforce the above undertakings by the Company and compensation by Company to the Issuer
and its other shareholders for all losses suffered. Any proceeds obtained by the Company due to any violation of the above representations
and undertakings shall also be vested with the Issuer.

 

If the Company violates the aforementioned
commitments, it will bear all the legal liability for any such violation.

 

This letter of undertaking takes
effect upon being signed by the Company, and is valid only during the period when the Company acts as the controlling shareholder
of the Issuer.

 

    

     

    

 

	 	DAQO NEW ENERGY CORP.
	 	 
	 	By:	/s/ Longgen Zhang
	 	Name:	Longgen Zhang
	 	Title:	Director and Chief Executive Officer
	 	Date:	September 7, 2020Exhibit 10.7

 

Letter of Undertaking on Not
Occupying Funds

 

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:

 

As the controlling shareholder
of the Issuer, the Company will strictly abide by laws, regulations, regulatory documents, and the Issuer’s relevant policies,
will not occupy or use the Issuer’s assets and resources in any way, and will not directly or indirectly take any action
that harms or may harm the interests of the Issuer and its other shareholders.

 

If the interests of the Issuer
or its other shareholders are harmed due to the Company’s breach of the above undertakings and warranties, the Company will
bear the corresponding liability in accordance with the law.

 

This letter of undertaking takes
effect upon being signed by the Company, and is valid only during the period when the Company acts as the controlling shareholder
of the Issuer.

 

[The space below is intentionally
left blank]

 

    

     

    

 

	 	DAQO NEW ENERGY CORP.
	 	 
	 	By:	/s/ Longgen Zhang
	 	Name:	Longgen Zhang
	 	Title:	Director and Chief Executive Officer
	 	Date:	September 7, 2020Exhibit 10.8

 

Letter of Undertaking on Protecting
the Independence of the Company

 

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”), during the period of being the controlling shareholder
of the Issuer, to protect the independence of the Issuer, makes the following undertakings:

 

1. While the Company is the controlling
shareholder of the Issuer, the Company will ensure that the Issuer remains independent from the Company and its related parties1
in terms of business, assets, finance, personnel, and governance bodies, among others.

 

2. The Company undertakes to
not make use of the controlling shareholder status of the Issuer to harm the Issuer’s legitimate interests;

 

3. While the Company is the controlling
shareholder of the Issuer, the Company and other companies controlled by the Company will restrain from all illegal occupation
of the Issuer’s funds and assets and will in no event require the Issuer and its controlled companies to provide any form
of guarantee or financial support to the Company, except where the Issuer is the beneficiary of the guarantee;

 

4. The Company agrees that if
the Company violates the above undertakings and thus causes losses to the Issuer, the Company will compensate the Issuer in full
for all losses suffered in a timely manner.

 

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

 

 

1
The term “related parties” under this letter of undertaking is defined in the “Rules of the Shanghai
Stock Exchange for Listing of Stocks on the Science and Technology Innovation Board” and “Accounting Standards for
Business Enterprises”.

 

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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 10.9

 

Letter of Undertaking Regarding
the Restraint Measures for Failure to Fulfill the Undertakings

 

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, guarantees
that it will strictly fulfill the public undertakings disclosed in the Issuer’s prospectus, and if it fails to fulfill the
undertakings, it will take the following actions:

 

(1) The Company will publicly
explain the specific reasons for its failure to fulfill its undertakings in the newspapers designated by the Shanghai Stock Exchange
and the China Securities Regulatory Commission, and apologize to the Issuer’s other shareholders and public investors.

 

(2) If the Company violates or
fails to fulfill the public commitments disclosed in the Issuer’s prospectus, the Company will bear the corresponding liability
in accordance with the provisions of relevant laws and regulations and the requirements of the regulatory authorities.

 

(3) If the investors suffer losses
in securities transactions due to the Company’s breach or failure to perform any related undertakings, the Company will compensate
them for the losses in accordance with the law. Investor losses shall be determined based on the amount determined by the Issuer
and investors through negotiation, or based on the method or amount recognized by the securities regulatory authority and the relevant
court. The Company will voluntarily apply for freezing the shares it holds in the Issuer in a market value corresponding to the
compensation amount, so as to ensure the Company’s ability to compensate the investors for their losses in accordance with
laws and regulations and the requirements of the regulatory authorities. If the Company fails to perform the aforementioned compensation
obligation, the Issuer’s pre-IPO shares held by the Company shall not be transferred before the Company has performed the
aforementioned compensation obligation, and during this period, the Issuer shall have the right to deduct cash dividends distributed
to the Company to fulfill the aforementioned compensation.

 

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, 2020

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