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JA Solar – A Solar company to stay for long!

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JASO Q2 2014 Results

JA Solar (JASO) announced a good set of Q2 2014 results. The company was successful in achieving an increase in all its components – revenues and profits. Total shipments for Q2 2014 were 681.8 MW an  increases of 47 % on a yearly basis and 6.8% on a quarterly basis. Total shipments of modules and cells amounted to 445.8 MW and 236 MW respectively, again an increase of 75.6% and 12.5 % respectively on a yearly basis. The total shipments were 681.8 MW, which was well within the range of previously announced guidance of 670-700 MW. The net revenues also increased by 52.9% since the last year, totalling to $ 390.5 million in Q2 2104. The gross margin stood at 15.2%.

Shipment Breakdown (MW)

Q2 2013 Q1 2014 Q2 2014 YoY(%) QoQ(%)
Solar Modules and Tolling 253.9 388 445.8 75.58 14.89
Solar Cells and Tolling 209.8 250.1 236 12.49 -5.36
Total 463.7 638.1 681.8 47.03 6.85


Shipment Breakdown by region (in%)

Q2 2013 Q1 2014 Q2 2014
China 37.8 26 26
APAC (other than China) 34.2 52.8 47.1
Europe 19.7 14.8 13.9
America 7.9 4.1 11.2
Others 0.4 2.3 1.8


The shipment breakdown by region above shows that the company has a well diversified network across the globe. Thus it very well shields itself from any unfavorable effects of anti-dumping and countervailing duties imposed in any of the countries above. The company has a market capitalization of $ 450.9 million and is currently trading at $ 9.91, which is near to its all time 52 week price of $ 8.18. Given the company’s good performance, strong footing in China and global diversification it is a bound to stay for long in the solar industry.

Mr. Baofang Jin, chairman and CEO of JA Solar, commented, “Our second quarter results were satisfactory, with strong revenue growth, continued bottom-line profitability, and progress in our transition from cells to modules as our main revenue stream. This successful transition has enabled us to emerge as a tier 1 module supplier in the world. Furthermore, we are actively growing our downstream business. In the second half of 2014, we expect to sustain both our growth and profitability, due to accelerating activity in China, and continued favorable product and geographic mix”.

Source: JA Solar


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

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