JA Solar's Q3 net profit surges 66% on strong shipments
Solar modules. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
Chinese solar power products maker JA Solar Holdings Co Ltd (NASDAQ:JASO) on Tuesday posted a 66.4% year-on-year rise in third-quarter (Q3) net profit to CNY 258.6 million (USD 40.6m/EUR 15m).
More details can be found in the table.
Figures in CNY
The improvement in JA Solar’s Q3 performance can be attributed to the 43.5% year-on-year jump in total shipments, which amounted to 1,126.8 MW, above the high end of its previously projected range of 900 MW to 950 MW. Shipments of modules and module tolling rose by 54.8% to 1,073.8 MW, while shipments of cells and cell tolling fell by 42.3% to 53 MW. China accounted for 53.1% of total shipments, while the rest of the Asia-Pacific region held a 36.3% share.
For the fourth quarter of 2015, JA Solar projects it will record total cell and module shipments of between 1,100 MW and 1,200 MW.
"As we continue into the final quarter of 2015, we expect demand to remain strong in our key markets, especially China. Although we expect ASPs [average selling prices] to remain stable, rising wafer prices may pressure margins slightly in the remainder of the year,” said chairman and CEO Baofang Jin. He added that the company also wants to capture greater market share in the Americas.
Because of strong customer demand, the firm now expects to ship below 100 MW of modules to its own downstream projects this year.