Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

JA Solar Misses Wide In Lackluster Third Quarter

Shanghai-based solar cell manufacturer JA Solar missed wide on its third-quarter earnings and shipments experiencing a significant decrease compared to the previous quarter, causing shares to plummet. 

Shanghai-based solar cell manufacturer JA Solar missed wide on its third-quarter earnings and shipments by experiencing a significant decrease compared to the previous quarter, and causing shares to plummet.

After a second quarter in which JA Solar shipped an impressive 2,389.2 MW (megawatts) — up 88.3% over the same quarter a year earlier, and up 68.3% over the first quarter — and brought in net revenue of RMB 6.0 billion ($878.1 million), a substantial 44.7% year-over-year increase, and 61.2% over the first quarter, JA Solar’s third-quarter was a much different story, and something of a let-down.

JA Solar shipped a total of 1,640.9 MW for the quarter, made up of 1,582.5 MW of solar modules and 37.9 MW of solar cells to external customers, and 20.5 MW of solar modules to the company’s own downstream projects. This was an increase of 31.9% year-over-year, but down 26.3% on the second quarter, and just below the company’s own second quarter guidance.

Net revenue for the third quarter took the most obvious hit, raking in RMB 4.3 billion ($652.6 million), an increase of only 4.3% year-over-year but down a significant 27.1% on the second quarter. Gross profit was RMB 513.6 million ($77.2 million) for the quarter, a 10.6% decrease year-over-year and 33.4% on the second quarter.

“Third quarter results were in-line with our expectations,” said Baofang Jin, Chairman and CEO of JA Solar, working hard to put a rosy spin on an otherwise lacklustre quarter. “Total module shipments during the quarter increased more than 30% year-over-year to approximately 1.6 GW, largely driven by demand from our key markets, including China, the U.S., Europe and Japan.  Additionally, we maintained gross margin in the low teens through stringent cost control in an adverse pricing environment of polysilicon and wafers during the quarter.”

Looking forward, JA Solar expects to ship total cell and modules in the range of 1,600 to 1,800 MW, nearly all of which will be external shipments.

 
 
 
Appreciate CleanTechnica’s originality and cleantech news coverage? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 

Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Clean Power

Chinese solar PV manufacturing giant Jinko Solar announced its first quarter 2019 financial results last week, which revealed the company's first-quarter shipments jumped 50.7%,...

Clean Power

Trina Solar is now testing a half-frame solar panel for use with solar trackers with hopes to lower the cost per watt for solar...

Clean Power

Canadian Solar, one of the world's largest solar manufacturers, published its first quarter earnings results last week, revealing a narrower-than-expected net loss and increased...

Clean Power

Danish wind energy manufacturing giant Vestas Wind Systems A/S published its first quarter earnings earlier this month, revealing slumping profit and minimal revenue growth...

Copyright © 2022 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.