Daqo New Energy Announces $5M Share Repurchase Program

Daqo New Energy Corp.

today announced that its board of directors has approved a share repurchase program, effective immediately. The board of directors has authorized Daqo New Energy to repurchase up to US$5 million worth of its issued and outstanding ordinary shares or American Depositary Shares, or ADSs, representing ordinary shares in open-market purchases, in negotiated transactions off the market, in block trades or through other legally permissible means prior to December 31, 2012 in accordance with applicable securities laws.