Xinjiang Daqo New Energy Hits Day Low Amid Price Pressure at CNY 18.31

Xinjiang Daqo New Energy Co., Ltd. experienced a notable decline today, with the stock dropping by 3.88% and reaching an intraday low of CNY 18.31. This performance stands in contrast to the China Shanghai Composite, which saw a modest decrease of 0.5% on the same day. Over the past week, Xinjiang Daqo has seen a decline of 1.87%, while its performance over the last month shows a significant increase of 17.89%. However, the longer-term outlook remains challenging, with a year-to-date decline of 31.69% and a staggering 54.07% drop over the past three years. The company has reported negative results for the last nine consecutive quarters, with net sales for the first half of the year at CNY 2,315.81 million, reflecting a decrease of 23.4%. Financial metrics indicate a difficult position for Xinjiang Daqo, with an operating cash flow of CNY -11,686.92 million and an inventory turnover ratio of just 3.96 times. The company operates within the minerals and mining industry and holds a market capitalization of CNY 40,351 million.