TBEA said it expects to produce 120,000 metric tons (MT) of polysilicon this year and 250,000 MT in 2023, while Daqo has revealed plans for a $700 million share buyback program.
TBEA said this week that it expects to produce around 120,000 MT of polysilicon in 2022, up 53.5% year on year. It said it expects to produce up to 250,000 MT next year. In the third quarter, it signed several long-term polysilicon supply agreements with Chinese manufacturers such as Shuangliang and JinkoSolar, for 690,000 MT of capacity in total. Its polysilicon production costs currently stand at roughly CNY 62 ($8.73)/kg.
Daqo New Energy‘s board of directors has approved a $700 million share repurchase program, effective from Nov. 7, 2022 to Dec. 31, 2023. The polysilicon supplier is now authorized to repurchase up to $700 million of its own issued and outstanding ordinary shares (or American depositary shares representing ordinary shares) on the open market with its own cash. It recently said it maintained full production capacity in June, and reiterated its 2022 full-year production guidance of 22,000 MT to 23,000 MT.
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