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Daqo New Energy Announces $100 Million Share Repurchase Program
Daqo New EnergyDaqo New Energy(US:DQ) Prnewswireยท2024-07-22 10:30

Core Viewpoint - Daqo New Energy Corp. has announced a US$100 million share repurchase program, reflecting confidence in its business amidst industry challenges [1][2]. Company Overview - Daqo New Energy Corp. is a leading manufacturer of high-purity polysilicon for the global solar PV industry, founded in 2007 [3]. - The company has a total polysilicon nameplate capacity of 205,000 metric tons and is recognized as one of the world's lowest cost producers of high-purity polysilicon [3]. Share Repurchase Program - The board of directors has authorized the repurchase of up to US$100 million worth of its own shares, effective until June 30, 2025 [1]. - The program will be funded primarily from available cash and existing cash balance, with no obligation to acquire a specific number of shares at any particular time [2]. - The timing and amount of shares repurchased will depend on market conditions and the company's operational status [2].