JA Solar Issues Q4 Outlook - Quick Facts

(RTTNews) - JA Solar Holdings Co., Ltd. (JASO) announced, for the fourth quarter of 2017, the company expects total cell and module shipments to be in the range of 1,600 to 1,800 megawatts (MW). Nearly all will be external shipments.

Third-quarter total shipments were 1,640.9 megawatts, consisting of 1,582.5 MW of modules and 37.9 MW of cells to external customers, and 20.5 MW of modules to the company's downstream projects. External shipments were up 30.6% from prior year. Shipments of modules were 1,582.5 MW, an increase of 31.9% from prior year.

Baofang Jin, CEO of JA Solar, said, "Third-quarter results were in-line with our expectations. 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."

Third-quarter non-GAAP earnings per ADS were RMB 0.89 or $0.13, compared to RMB 0.86 or $0.13, prior year. Net revenue was RMB 4.3 billion ($652.6 million), an increase of 4.3% from previous year.