SHANGHAI, Aug. 22,
2023 /PRNewswire/ -- Daqo New Energy Corp. (NYSE: DQ)
("Daqo New Energy", the "Company" or "we"), a leading manufacturer
of high-purity polysilicon for the global solar PV industry, today
announced that the board of directors (the "Board") of its
subsidiary Xinjiang Daqo New Energy Co., Ltd. ("Xinjiang Daqo") has
approved a share repurchase program authorizing Xinjiang Daqo to
repurchase RMB200 million to
RMB400 million worth of its issued
and outstanding shares by means of centralized bidding
transactions, effective until August 22,
2024. Based on a purchase price not exceeding RMB50 per share approved by its board, Xinjiang
Daqo may repurchase less than 0.4% of its outstanding shares under
this program. Xinjiang Daqo expects to fund the repurchases out of
its own funds, and plans to use the repurchased shares for its
share incentive plans subject to relevant regulatory
requirements.
About Daqo New Energy Corp.
Daqo New Energy Corp. (NYSE: DQ) ("Daqo" or the "Company") is a
leading manufacturer of high-purity polysilicon for the global
solar PV industry. Founded in 2007, the Company manufactures and
sells high-purity polysilicon to photovoltaic product manufactures,
who further process the polysilicon into ingots, wafers, cells and
modules for solar power solutions. The Company has a total
polysilicon nameplate capacity of 205,000 metric tons and is one of
the world's lowest cost producers of high-purity polysilicon.
For more information, please visit www.dqsolar.com.
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SOURCE Daqo New Energy Corp.