JA Solar Reports Record Shipments In Third Quarter

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JA Solar has reported its third quarterly earnings report, highlighting record shipments and increased net revenue.

Beijing-based ‘Silicon Module Super League’ (SMSL) member JA Solar published its third quarterly earnings on Tuesday, reporting an increase in shipments, net revenue, gross margin, earnings per shares.

Total solar module shipments reached 1,126.8 MW, exceeding the high end of the company’s guidance for the quarter, and representing a 42.5% increase over the last quarter, and a 43.5% increase year-over-year.

“We are pleased to report strong financial results for the third quarter of 2015 as total shipments of 1.1 GW exceeded the high end of our previous expectations,” said Mr. Baofang Jin, chairman and CEO of JA Solar. “Strong demand in China continued to drive shipment growth, as China represented 53% of our total shipments during the quarter. We also made great progress on our new cell manufacturing facility in Malaysia during the quarter, and are very excited to have announced the facility’s launch in late October.”

JA Solar’s net revenue for the quarter reached RMB 3.8 billion ($601 million), representing an increase of 41% over the last quarter, and 26.4% over the same quarter a year earlier.

“As we continue into the final quarter of 2015, we expect demand to remain strong in our key markets, especially China,” continued Mr Jin.

The company is expecting similarly strong results in the fourth quarter, with guidance of module shipments in the range of 1.1 GW and 1.2 GW, and shipments of less than 100 MW of modules to its downstream projects in 2015.

JA Solar also reported that it had repurchased a total of 2,971,163 of the Company’s American Depositary Shares (“ADSs”) from the open market in line with the company’s board-approved share repurchase program.

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