Economic Transformation - Xinjiang's economy has undergone significant changes under national policy guidance, with the market capitalization of A-share listed companies reaching 809.31 billion yuan, a 4.05% increase since the beginning of the year [1] - The establishment of a multi-tiered capital market system has facilitated the transition from traditional industries to strategic emerging industries, showcasing the successful implementation of financial market reforms [1][2] Capital Market Development - The number of listed companies in Xinjiang has grown to 61 by September 2025, positioning it among the leaders in the northwest region [2] - The capital market has evolved from being dominated by agriculture, energy, and basic industries to encompassing various sectors, including technology and consumer goods [3][5] Industry Growth and Diversification - New energy and new materials have become significant components of Xinjiang's capital market, with companies like Goldwind Technology and Daqo New Energy leading the way [5][6] - The rise of technology and consumer sectors is evident, with companies such as Xiling Information and Lian Technology making notable contributions [5] Financial Support and Investment - Capital markets have played a crucial role in supporting traditional industries' transformation and the growth of emerging sectors, with companies like Zhongtai Chemical successfully utilizing capital market tools for industry upgrades [7] - The establishment of the Science and Technology Innovation Board has provided critical opportunities for technology companies, enhancing the overall economic landscape [9][10] Policy and Regulatory Environment - The China Securities Regulatory Commission has implemented supportive policies for western region enterprises, easing financing challenges through IPO green channels and registration system reforms [14] - The ongoing reforms in the capital market are expected to provide more diverse financing channels and efficient capital allocation for Xinjiang enterprises [10][14]

Fundraising Overview - The company raised a total of RMB 6,447,000,000.00 from the issuance of 30 million shares at a price of RMB 21.49 per share, with a net amount of RMB 6,067,191,792.45 after deducting issuance costs [1] - As of June 30, 2025, the company has utilized RMB 5,988,460,123.88 of the raised funds, including RMB 1,782,167,500.00 for replacing self-raised funds and RMB 492,850,221.22 for supplementing working capital [1] Fund Management - The company has established dedicated accounts for the management of raised funds, complying with relevant regulations [1] - A tripartite supervision agreement was signed with various banks to ensure proper management of the funds [1] - The initial amount deposited in the dedicated accounts was RMB 6,104,068,000.00, with differences attributed to prepaid underwriting and other issuance costs [1] Fund Usage - During the reporting period, the company did not use raised funds to replace self-raised funds or temporarily supplement working capital [2] - There were no instances of using idle raised funds for cash management or to repay bank loans [2] - The company has completed the transfer of surplus raised funds to working capital and closed the relevant dedicated accounts [1][2] Project Investment Status - The company has completed the investment projects as planned, with the "Annual Production of 35,000 Tons of Polysilicon Project" and "Annual Production of 1,000 Tons of High-Purity Semiconductor Materials Project" reaching their intended operational status [3] - The polysilicon project generated an annual revenue of RMB 51,325.32 million, which was below the expected revenue due to market factors [3] - The high-purity semiconductor materials project is currently in the verification stage and has not yet achieved the expected benefits [4]

Group 1 - The stock price of Daqo Energy (688303.SH) fell by 7.50% to 25.90 yuan as of the market close on July 31 [1] - Daqo Energy was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 22, 2021, with an initial public offering (IPO) of 300 million shares at a price of 21.49 yuan per share, raising a total of 644.7 million yuan [1] - The company planned to use the IPO proceeds for projects including the annual production of 1,000 tons of high-purity semiconductor materials and 35,000 tons of polysilicon, as well as to supplement working capital [1] Group 2 - In 2022, Daqo Energy issued A-shares to specific investors, raising approximately 10.99 billion yuan at a price of 51.79 yuan per share, with a net amount of about 10.94 billion yuan after deducting issuance costs [2] - As of December 31, 2023, Daqo Energy had utilized approximately 10.95 billion yuan of the raised funds, which were fully invested in the intended projects [2] - The total amount raised by Daqo Energy from both fundraising rounds is approximately 17.447 billion yuan [3]

Group 1 - The stock price of Daqo Energy (688303.SH) has declined to 19.27 yuan, representing a drop of 1.98%, and is currently in a state of below the issue price [1] - Daqo Energy was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 22, 2021, with an initial public offering (IPO) price of 21.49 yuan per share, raising a total of 644.7 million yuan [1] - The company planned to use the raised funds for projects including the annual production of 1,000 tons of high-purity semiconductor materials and 35,000 tons of polysilicon, as well as for working capital [1] Group 2 - In 2022, Daqo Energy issued A-shares to specific investors, raising approximately 10.99 billion yuan at an issue price of 51.79 yuan per share [2] - The net proceeds from this issuance, after deducting issuance costs, amounted to about 10.94 billion yuan, which has been fully utilized by the end of 2023 [2] - The total amount raised by Daqo Energy from both fundraising activities is approximately 17.447 billion yuan [3]

Group 1 - Daqian Energy's stock closed at 21.11 yuan, with a decline of 5.12%, resulting in a total market capitalization of 45.285 billion yuan [1] - The company was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 22, 2021, with an initial public offering (IPO) of 300 million shares at a price of 21.49 yuan per share [1] - The total funds raised from the IPO amounted to 644.7 million yuan, with a net amount of 606.719 million yuan, exceeding the original plan by 106.719 million yuan [1] Group 2 - In 2022, Daqian Energy issued A-shares to specific investors, raising a total of approximately 10.999 billion yuan at a price of 51.79 yuan per share [2] - The net amount raised from this issuance, after deducting issuance costs, was approximately 10.937 billion yuan, which was fully utilized by the end of 2022 [2] - The stock price is currently below the issuance price [2] Group 3 - Daqian Energy's total fundraising from both IPO and subsequent issuance amounts to 17.447 billion yuan [3] - For the year 2023, the company reported a revenue of approximately 741.052 million yuan, a year-on-year decline of 54.62%, and a net profit attributable to shareholders of -271.813 million yuan [3] - In the first quarter of 2025, the company reported a revenue of approximately 90.725 million yuan, a year-on-year decline of 69.57%, with a net profit of -55.802 million yuan [3]