JA Solar Holdings Co. (JASO:US), China’s largest solar-cell maker, rose the most in more than four months after reporting first-quarter shipments that exceeded its forecast.
JA Solar’s American depositary receipts gained 17 percent to $1.04 at the close in New York, the most since Jan. 11. Each ADR is worth one ordinary share.
JA Solar shipped 366 megawatts of solar cells and panels in the first quarter, ahead of its forecast of 320 megawatts to 350 megawatts, on strong demand in Italy and Germany, according to a statement today. Revenue for the Shanghai-based company was 1.6 billion yuan ($254.4 million), beating expectations of 1.51 billion yuan, the average of nine analysts’ estimates compiled by Bloomberg,
JA Solar affirmed its 2012 shipment forecast of 1.8 gigawatts to 2 gigawatts of solar products. It sells solar cells and panels.
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