688303:SSEXinjiang Daqo New Energy Co. Ltd. Class A Analysis

The stock trades at CNY 24.05, just above its 20‑day SMA (23.74) but below the 50‑day (25.24) and 200‑day (26.04) averages, indicating a short‑term bounce within a broader bearish backdrop. RSI near 49 suggests neutral momentum, while the MACD histogram turned positive, hinting at a tentative upside. Yet the 30‑day volatility of roughly 48 % and a recent max drawdown of 33 % underscore a choppy price environment.
Fundamentally, the company posted a 13.5 % revenue rise but still reports deep negative margins (gross –25.8 %, operating –47 %) and a trailing loss per share of –1.26 CNY, though forward EPS of 0.68 CNY and a narrowed loss guidance of RMB1‑1.3 bn for 2025 signal an improving bottom line. A massive cash pile of CNY 4.7 bn and zero debt provide a strong cushion, yet the forward P/E of 35.4 sits above the industry average of 29.9, making the current valuation appear stretched. Market sentiment is bullish, reflected by an “Extreme Greed” index reading of 76, but the stock’s high volatility and lack of dividend further temper optimism.