Shanghai New Power Automotive Hits Day Low of CNY 9.94 Amid Price Pressure

Shanghai New Power Automotive Technology Co., Ltd. experienced a notable decline today, with the stock dropping by 4.97% and reaching an intraday low of CNY 9.94. This performance contrasts sharply with the broader market, as the China Shanghai Composite index fell by only 1.26% on the same day. Over the past week, the company's stock has decreased by 3.52%, while its performance over the past month shows a significant increase of 25.68%. However, the year-to-date performance remains strong at 66.34%, and the stock has gained 69.12% over the past year, outpacing the China Shanghai Composite's 22.49% increase. Despite these positive long-term trends, the company faces challenges, including a negative trajectory in net sales, which have declined at an annual rate of 0.61% over the last five years. Additionally, the company has reported negative results for the last three consecutive quarters, with net sales for the first half of the year down by 17.85%. The debt-equity ratio stands at a high 21.66%, indicating potential financial strain.