Daqo New Energy Corp. American Depositary Shares (each representing 5 Ordinary Shares) (DQ)

Daqo New Energy, China's largest polysilicon producer, announced a $100 million stock buyback, signaling confidence in its undervalued market position and potential in the renewable energy sector.

The solar sector is facing a painful correction due to massive oversupply, with major players like JinkoSolar and Daqo New Energy reporting losses. Janbon High Tech, a key supplier of silver powder for solar cells, has filed for an IPO in Hong Kong, but its thin margins and the industry's challenges make it a risky bet for investors.

SolarEdge stock experienced a volatile day, opening down 13% but then recovering most of its losses. Other solar companies like Daqo New Energy and Sunnova Energy International also saw significant price movements, with Daqo up 6.8% and Sunnova up 8.5% after suffering losses the previous day.

The global polysilicon market is expected to grow significantly from $9.7 billion in 2023 to $21.4 billion by 2030, driven by the rising demand for solar energy and photovoltaics. Technological advancements in production processes and the increasing use of polysilicon in the semiconductor and electronics industries are also contributing to market growth.

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