Xinjiang Daqo New Energy Hits Day Low Amid Price Pressure at CNY 20.31

Xinjiang Daqo New Energy Co., Ltd. experienced a significant decline today, with the stock dropping by 5.3% and reaching an intraday low of CNY 20.31. This performance stands in contrast to the broader market, as the China Shanghai Composite index fell by only 2.04% on the same day. Over the past week, Xinjiang Daqo has seen a notable decrease of 8.99%, and its performance over the last month reflects a decline of 12.36%. Year-to-date, the stock has underperformed significantly, with a drop of 24.12%, while the China Shanghai Composite has gained 2.73% during the same period. The company's financial metrics indicate ongoing challenges, with net sales declining at an annual rate of 44.58% over the past five years. Additionally, the operating profit has decreased by 155.28% during this timeframe. Xinjiang Daqo has reported negative results for nine consecutive quarters, with the latest half-year net sales at CNY 2,315.81 million, reflecting a 23.4% decline. The operating cash flow has also reached a low of CNY -11,686.92 million, further highlighting the company's current financial difficulties.