Bloomberg News

JA Solar Falls After Loss Exceeds Estimates

March 25, 2013

JA Solar Holdings Co. (JASO:US), the biggest solar-cell producer by capacity, fell after reporting a fourth- quarter loss that exceeded analysts’ estimates on declining panel prices.

JA Solar’s American depositary receipts dropped 11 percent to $3.71 at the close in New York, and earlier declined 14 percent, the most intraday since May 18. Each ADR is worth one ordinary share.

JA Solar’s loss widened to 637.9 million yuan ($102.7 million) from 429.6 million yuan a year earlier, the company said today in a statement. The loss exceeded the 375.9-million- yuan average of three estimates compiled by Bloomberg.

It was a challenging year, JA Solar’s Chairman and Chief Executive Officer Baofang Jin said in the statement, as the “industry-wide overcapacity continued to put downward pressure” on prices and margins.

The company shipped 500 megawatts of solar cells and panels in the quarter, more than its 420 megawatt forecast, on better- than-expected sales in China and Japan. Shipments for the year totaled 1.7 gigawatts.

JA Solar was the largest solar-cell maker by capacity in 2011, the most recent year for which data is available, according to Bloomberg New Energy Finance.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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Companies Mentioned

  • JASO
    (JA Solar Holdings Co Ltd)
    • $9.53 USD
    • -0.02
    • -0.21%
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