Daqo New Energy subsidiary Xinjiang Daqo has approved a share repurchase program authorizing Xinjiang Daqo to repurchase RMB200M-RMB400M 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.
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