Daqo New Energy Approves $100M Share Buyback Program Running Through 2026

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 board of directors has approved a US$100 million share repurchase program, effective today through December 31, 2026.

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 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 primarily out of its existing cash balance. The repurchase program does not obligate Daqo New Energy to acquire any number of ordinary shares or ADSs at any specific time. The board of directors will review the share repurchase program periodically and may authorize adjustments of its terms and size accordingly.