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6883

Xinjiang Daqo New EnergyLtd SHSE:688303 Stock Report

Last Price

CN¥63.09

Market Cap

CN¥134.2b

7D

1.6%

1Y

-2.7%

Updated

17 Aug, 2022

Data

Company Financials +
688303 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends3/6

688303 Stock Overview

Xinjiang Daqo New Energy Co.,Ltd. engages in the research, development, production, and sale of polysilicon materials for the solar photovoltaic industry.

Xinjiang Daqo New EnergyLtd Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Xinjiang Daqo New EnergyLtd
Historical stock prices
Current Share PriceCN¥63.09
52 Week HighCN¥96.00
52 Week LowCN¥47.88
Beta0
1 Month Change-7.22%
3 Month Change3.14%
1 Year Change-2.71%
3 Year Changen/a
5 Year Changen/a
Change since IPO3.24%

Recent News & Updates

Shareholder Returns

688303CN SemiconductorCN Market
7D1.6%-0.4%1.3%
1Y-2.7%-4.2%-7.2%

Return vs Industry: 688303 exceeded the CN Semiconductor industry which returned -4.2% over the past year.

Return vs Market: 688303 exceeded the CN Market which returned -7.2% over the past year.

Price Volatility

Is 688303's price volatile compared to industry and market?
688303 volatility
688303 Average Weekly Movement7.1%
Semiconductor Industry Average Movement7.6%
Market Average Movement6.0%
10% most volatile stocks in CN Market9.2%
10% least volatile stocks in CN Market3.8%

Stable Share Price: 688303 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: 688303's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20112,509Qiangmin Zhouhttps://www.xjdqsolar.com

Xinjiang Daqo New Energy Co.,Ltd. engages in the research, development, production, and sale of polysilicon materials for the solar photovoltaic industry. It offers P-type single crystal coral and crystal dense aniseed materials, and P-type single crystal compound feeding materials; and polycrystalline loose bars, dense blocks, and loose bulk materials.

Xinjiang Daqo New EnergyLtd Fundamentals Summary

How do Xinjiang Daqo New EnergyLtd's earnings and revenue compare to its market cap?
688303 fundamental statistics
Market CapCN¥134.16b
Earnings (TTM)CN¥13.09b
Revenue (TTM)CN¥22.66b

10.3x

P/E Ratio

6.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
688303 income statement (TTM)
RevenueCN¥22.66b
Cost of RevenueCN¥6.78b
Gross ProfitCN¥15.88b
Other ExpensesCN¥2.79b
EarningsCN¥13.09b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)6.12
Gross Margin70.07%
Net Profit Margin57.76%
Debt/Equity Ratio0.5%

How did 688303 perform over the long term?

See historical performance and comparison

Dividends

1.0%

Current Dividend Yield

9%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 688303 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 688303?

Other financial metrics that can be useful for relative valuation.

688303 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue5x
Enterprise Value/EBITDA7x
PEG Ratio-0.4x

Price to Earnings Ratio vs Peers

How does 688303's PE Ratio compare to its peers?

688303 PE Ratio vs Peers
The above table shows the PE ratio for 688303 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average75.4x
002129 TCL Zhonghuan Renewable Energy TechnologyLtd
36.6x14.8%CN¥175.5b
002371 NAURA Technology Group
137.2x38.8%CN¥165.5b
603806 Hangzhou First Applied Material
48.7x17.3%CN¥99.4b
688012 Advanced Micro-Fabrication Equipment China
79.1x14.4%CN¥85.5b
688303 Xinjiang Daqo New EnergyLtd
10.3x-23.6%CN¥134.2b

Price-To-Earnings vs Peers: 688303 is good value based on its Price-To-Earnings Ratio (10.3x) compared to the peer average (75.4x).


Price to Earnings Ratio vs Industry

How does 688303's PE Ratio compare vs other companies in the CN Semiconductor Industry?

Price-To-Earnings vs Industry: 688303 is good value based on its Price-To-Earnings Ratio (10.3x) compared to the CN Semiconductor industry average (60.5x)


Price to Earnings Ratio vs Fair Ratio

What is 688303's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

688303 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.3x
Fair PE Ratio18.4x

Price-To-Earnings vs Fair Ratio: 688303 is good value based on its Price-To-Earnings Ratio (10.3x) compared to the estimated Fair Price-To-Earnings Ratio (18.4x).


Share Price vs Fair Value

What is the Fair Price of 688303 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 688303 (CN¥63.09) is trading above our estimate of fair value (CN¥23.21)

Significantly Below Fair Value: 688303 is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

How is Xinjiang Daqo New EnergyLtd forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-23.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 688303's earnings are forecast to decline over the next 3 years (-23.6% per year).

Earnings vs Market: 688303's earnings are forecast to decline over the next 3 years (-23.6% per year).

High Growth Earnings: 688303's earnings are forecast to decline over the next 3 years.

Revenue vs Market: 688303's revenue is expected to decline over the next 3 years (-5.4% per year).

High Growth Revenue: 688303's revenue is forecast to decline over the next 3 years (-5.4% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 688303's Return on Equity is forecast to be low in 3 years time (16.9%).


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Past Performance

How has Xinjiang Daqo New EnergyLtd performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


48.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 688303 has a high level of non-cash earnings.

Growing Profit Margin: 688303's current net profit margins (57.8%) are higher than last year (41.1%).


Past Earnings Growth Analysis

Earnings Trend: 688303's earnings have grown significantly by 48.2% per year over the past 5 years.

Accelerating Growth: 688303's earnings growth over the past year (352.1%) exceeds its 5-year average (48.2% per year).

Earnings vs Industry: 688303 earnings growth over the past year (352.1%) exceeded the Semiconductor industry 64.1%.


Return on Equity

High ROE: 688303's Return on Equity (36.6%) is considered high.


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Financial Health

How is Xinjiang Daqo New EnergyLtd's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 688303's short term assets (CN¥31.0B) exceed its short term liabilities (CN¥6.4B).

Long Term Liabilities: 688303's short term assets (CN¥31.0B) exceed its long term liabilities (CN¥946.5M).


Debt to Equity History and Analysis

Debt Level: 688303 has more cash than its total debt.

Reducing Debt: 688303's debt to equity ratio has reduced from 98.9% to 0.5% over the past 5 years.

Debt Coverage: 688303's debt is well covered by operating cash flow (4798.9%).

Interest Coverage: 688303's interest payments on its debt are well covered by EBIT (248.2x coverage).


Balance Sheet


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Dividend

What is Xinjiang Daqo New EnergyLtd current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.95%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 688303's dividend (0.95%) is higher than the bottom 25% of dividend payers in the CN market (0.44%).

High Dividend: 688303's dividend (0.95%) is low compared to the top 25% of dividend payers in the CN market (1.87%).


Stability and Growth of Payments

Stable Dividend: Too early to tell whether 688303's dividend payments have been stable as they only just started paying a dividend.

Growing Dividend: Too early to tell if 688303's dividend payments are increasing as they only just started paying a dividend.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (8.8%), 688303's dividend payments are thoroughly covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (28.7%), 688303's dividend payments are well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

2.2yrs

Average management tenure


CEO

Qiangmin Zhou (53 yo)

2.08yrs

Tenure

CN¥3,638,500

Compensation

Mr. Qiangmin Zhou is Managing Director and Director at Xinjiang Daqo New Energy Co.,Ltd. since July 2020.


Leadership Team

Experienced Management: 688303's management team is considered experienced (2.2 years average tenure).


Board Members

Experienced Board: 688303's board of directors are considered experienced (3.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11%.


Top Shareholders

Company Information

Xinjiang Daqo New Energy Co.,Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: Xinjiang Daqo New Energy Co.,Ltd.
  • Ticker: 688303
  • Exchange: SHSE
  • Founded: 2011
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Implied Market Cap: CN¥134.164b
  • Shares outstanding: 2.14b
  • Website: https://www.xjdqsolar.com

Number of Employees


Location

  • Xinjiang Daqo New Energy Co.,Ltd.
  • New Chemical Material Industrial Park
  • Shihezi Economic Development Zone
  • Shihezi
  • Xinjiang Uygur Province
  • 832012
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/17 00:00
End of Day Share Price2022/08/17 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.