JA Solar Regains Compliance With NASDAQ Minimum Bid Price Rule
SHANGHAI, China, Dec. 31, 2012 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd.
(Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest
manufacturers of high-performance solar power products, today announced that
it has received a letter dated December 27, 2012 from NASDAQ Stock Market LLC
("NASDAQ") notifying the Company that it has regained compliance with the
minimum bid price of $1.00 per share requirement for continued listing set
forth in NASDAQ Listing Rule 5450(a)(1) (the "Listing Rule").
On October 11, 2012, NASDAQ notified the Company that, based upon the closing
bid price of the Company's American Depositary Shares ("ADS") for 30
consecutive business days, the Company no longer met the $1.00 per share
minimum bid price requirement set forth in the Listing Rule. The Company was
provided with a period of 180 calendar days, or until April 9, 2013, to regain
In the December 27, 2012 letter, NASDAQ informed the Company that it had
determined that for the previous 10 consecutive business days, from December
10, 2012 to December 26, 2012, the closing bid price of the Company's ADSs had
been at $1.00 per share or greater. Accordingly, the Company has regained
compliance with the Listing Rule.
This press release contains forward-looking statements within the meaning of
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by words such as
"may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate,"
"potential," "continue," and other similar statements. Statements other than
statements of historical facts in this announcement are forward-looking
statements, including but not limited to, our expectations regarding the
expansion of our manufacturing capacities, our future business development,
and our beliefs regarding our production output and production outlook. These
forward-looking statements involve known and unknown risks and uncertainties
and are based on current expectations, assumptions, estimates and projections
about the Company and the industry. Further information regarding these and
other risks is included in Form 20-F and other documents filed with the
Securities and Exchange Commission. The Company undertakes no obligation to
update forward-looking statements, except as may be required by law. Although
the Company believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that its expectations will
turn out to be correct, and investors are cautioned that actual results may
differ materially from the anticipated results.
About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance
solar power products that convert sunlight into electricity for residential,
commercial, and utility-scale power generation. The Company is one of the
world's largest producers of solar cells. Its standard and high-efficiency
product offerings are among the most powerful and cost-effective in the
industry. The Company also produces solar modules that it distributes under
its own brand and produces on behalf of solar manufacturers globally. The
Company shipped 1.69 GW of solar power products in 2011. JA Solar is
headquartered in Shanghai, China, and maintains production facilities in
Shanghai, as well as Hebei, Jiangsu and Anhui provinces. For more information,
please visit www.jasolar.com.
The JA Solar Holdings Co., Ltd. logo is available at
CONTACT: In China
In the U.S.
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