Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

JA Solar Falls Most Since April as Profits Miss Estimates

Aug. 20 (Bloomberg) -- JA Solar Holdings Co., the biggest solar-cell producer, declined the most in more than three months after second-quarter earnings fell short of analysts’ estimates.

JA Solar’s American depositary receipts dropped 6.3 percent to $9.36 at the close in New York, the biggest one-day decline since Apr. 28. Each ADR is worth five ordinary shares.

Net income was 40.1 million yuan ($6.5 million), or 0.12 yuan a share, compared with a loss of 132.4 million yuan, or 0.72 yuan a share, a year earlier, the Shanghai-based company said in a statement today. That missed the 1.31-yuan average of three estimates compiled by Bloomberg.

JA Solar raised its forecast for shipments this year to as much as 3.1 gigawatts, from a May estimate of up to 2.9 gigawatts, as it sees strong demand in fast-growing markets like China, Japan and North America, Chief Executive Officer Jin Baofang said in the statement.

Shipments jumped 47 percent from a year earlier in the quarter to 681.8 megawatts, in line with the company’s May forecast of 670 megawatts to 700 megawatts.

JA Solar is the biggest maker of solar cells with 2.8 gigawatts of capacity, according to data compiled by Bloomberg.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Carlos Caminada, Jim Efstathiou Jr.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.