SHANGHAI, April 1,
2024 /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 its subsidiary Xinjiang Daqo's board of directors
has approved its cash dividend plan for 2023 and has proposed it to
Xinjiang Daqo's annual shareholders' meeting for approval.
For the year ended December 31,
2023, the net profit attributable to Xinjiang Daqo's
shareholders was RMB 5,762,696,246.
Xinjiang Daqo's board of directors has approved the payment of a
cash dividend to Xinjiang Daqo's shareholders (including Daqo New
Energy) in the aggregate amount of RMB
893,308,292 which accounts for 15.50% of the net profit
attributable to them in 2023. This plan still needs to be submitted
to Xinjiang Daqo's annual shareholders meeting for approval, which
is expected to be held in mid-April. In the year ended December 31, 2023, Xinjiang Daqo repurchased its
issued and outstanding shares in the aggregate amount of
RMB 259,867,131. Combined with the
proposed cash dividend for 2023, Xinjiang Daqo in aggregate would
return to its shareholders approximately 20.01% of its net profit
attributable for 2023 to them. As of the date of this press
release, Daqo New Energy beneficially owns 72.4% of the equity
interest in Xinjiang Daqo.
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.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "might," "guidance" and similar
statements. Among other things, Daqo New Energy's share repurchase
plan and the industry's outlook contain forward-looking statements.
The Company may also make written or oral forward-looking
statements in its reports filed or furnished to the U.S. Securities
and Exchange Commission, in its annual reports to shareholders, in
press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements
about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties, all of which are difficult or impossible to predict
accurately and many of which are beyond the Company's control. A
number of factors could cause actual results to differ materially
from those contained in any forward-looking statement, including
but not limited to the following: the demand for photovoltaic
products and the development of photovoltaic technologies; global
supply and demand for polysilicon; alternative technologies in cell
manufacturing; the Company's ability to significantly expand its
polysilicon production capacity and output; the reduction in or
elimination of government subsidies and economic incentives for
solar energy applications; and the Company's ability to lower its
production costs. Further information regarding these and other
risks is included in the reports or documents that the Company has
filed with, or furnished to, the U.S. Securities and Exchange
Commission. All information provided in this press release is as of
the date hereof, and the Company undertakes no duty to update such
information or any forward-looking statement, except as required
under applicable law.
View original
content:https://www.prnewswire.com/news-releases/daqo-new-energys-subsidiary-xinjiang-daqo-proposes-2023-cash-dividend-for-approval-at-its-annual-shareholders-meeting-302103472.html
SOURCE Daqo New Energy Corp.