大全新能源(DQ)今日盘中股价大跌6.85%，引发了市场的广泛关注。
消息面上，公司最新公布的2025年第四季度财报显示，尽管非GAAP每股存托凭证收益为-0.11美元，较市场预期高出0.14美元，但营收为2.217亿美元，虽然同比增长13.5%，却明显低于市场预期，成为股价承压的主要因素之一。
从经营层面看，公司当季多晶硅销量回落至38,167吨，低于前一季度的42,406吨，显示下游需求与去库存节奏仍存波动。尽管成本端持续改善，平均总生产成本和现金成本均有所下降，但在行业供需博弈与价格修复节奏尚不明朗的背景下，投资者对短期盈利改善的信心仍偏谨慎，从而拖累股价走弱。
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