Daqo New Energy (DQ) Announces $100M Share Buyback

Daqo New Energy Corp. (NYSE: DQ) today announced that its board of directors has approved a US$100 million share repurchase program, effective today through June 30, 2025.

The board of directors has authorized Daqo New Energy to repurchase up to US$100 million worth of its own issued and outstanding ordinary shares or American depositary shares ("ADSs") representing ordinary shares in open-market purchases, in negotiated transactions off the market, in block trades or through other legally permissible means in accordance with applicable United States securities laws.

The Company expects to fund the repurchase program primarily out of its potentially available cash, as well as its existing cash balance. The repurchase program does not obligate Daqo New Energy to acquire any particular number of ordinary shares or ADSs at any specific time. The board of directors will review the share repurchase program periodically and may authorize adjustment of its terms and size accordingly.

Mr. Xiang Xu, Chairman and Chief Executive Officer of the Company, commented, "The share repurchase program underscores our confidence in the Company's business development as we weather through the industry downcycle. We remain fully committed to delivering sustainable growth while creating value for our shareholders. Nevertheless, the timing of repurchase, number of shares repurchased and prices paid will depend upon the Company's operations and market conditions, as well as corporate governance and regulatory restrictions, including any blackout period requirements."

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