JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or the
"Company"), one of the world's largest manufacturers of
high-performance solar power products, today announced its
unaudited financial results for its fourth quarter and fiscal year
ended December 31, 2016.
Fourth Quarter 2016
Highlights
- Total shipments were 1,416.2
megawatts
(“MW”),
consisting of 1,353.0 MW of
modules and 58.9 MW of cells to
external customers, and 4.3 MW of
modules to the Company’s downstream projects.
External shipments were up +5.5% y/y and up +13.8%
sequentially
- Shipments of modules and module
tolling were
1,353.0 MW,
an increase of
+4.3% y/y and
+12.8%
sequentially
- Shipments of cells and cell
tolling were 58.9
MW, an increase
of +43.0% y/y
and +44.0%
sequentially
- Net revenue was RMB
4.0 billion
($574.8
million), a decrease
of 13.1% y/y
and 4.1%
sequentially
- Gross margin was
12.9%, a decrease of
420 basis points y/y
and 90 basis points
sequentially
- Operating profit was RMB
370.5 million
($53.4 million),
compared to RMB 260.1
million ($37.5
million) in
the fourth quarter of
2015, and RMB 121.4 million
($17.5 million) in the third quarter of 2016
- Net income was RMB
353.4 million
($50.9 million),
compared to RMB 184.9 million ($26.6 million) in the fourth
quarter of 2015, and RMB 44.1 million ($6.4 million) in the third
quarter of 2016
- Earnings per diluted ADS were RMB 6.80
or $0.98, compared to RMB 3.39 or
$0.49 in the fourth quarter of 2015, and RMB 0.86 or $0.12 in the
third quarter of 2016
- Cash and cash
equivalents were
RMB 2.6 billion
($370.1
million), an
increase of RMB 580.6
million ($83.6 million)
during the quarter
- Non-GAAP earnings1 per diluted ADS were
RMB 6.80 or $0.98,
compared to RMB 3.14 or $0.45 in the fourth quarter of
2015, and RMB 0.86 or $0.12 in the third quarter of
2016
Fiscal Year 2016 Highlights
- Total shipments were 5.2
gigawatts ("GW"), consisting of
4,606.6 MW of modules and module tolling
and 313.8 MW of cells and cell
tolling to external customers, and 245.8
MW of modules to the Company’s downstream projects.
External Shipments represented an increase of
24.9% from 3.9
GW in fiscal year 2015
- Net revenue was RMB
15.7
billion ($2.3 billion),
compared to net revenue of RMB
13.5
billion ($1.9 billion) in
fiscal year 2015
- Gross margin was
14.6%, compared to
17.0%
in fiscal year 2015
- Operating profit was
RMB 903.2 million
($130.1 million), compared to an
operating profit of RMB
865.0 million
($124.6 million) in fiscal year
2015
- Net income was RMB 719.6
million ($103.6 million),
compared to RMB 614.5 million
($88.5 million) in fiscal year
2015
- Earnings per diluted ADS
were RMB 14.58
or $2.10, compared to
RMB 10.58 or
$1.52 in fiscal year
2015
- Cash and cash equivalents at the end of the fiscal year
were RMB 2.6 billion
($370.1 million), compared to RMB
2.9 billion
($415.3 million) at the end of
fiscal year 2015
- Non-GAAP net income attributable to the Company's
ordinary shareholders was RMB 612.8
million ($88.3 million),
compared to a non-GAAP net income
attributable to the Company's ordinary shareholders of
RMB 584.1
million ($84.1
million) in fiscal year
2015
- Non-GAAP earnings per diluted ADS in fiscal year
2016 was RMB
13.07 ($1.88), compared to a
non-GAAP earnings per diluted ADS
of RMB 9.91 ($1.43) in fiscal
year 2015
Mr. Baofang Jin, Chairman and CEO of JA Solar,
commented, “While the overall market environment remained
challenging, we delivered solid Q4 operating results, topping off a
strong 2016 for us. We achieved our 2016 financial and
operating goals with revenue and external shipments growing 16% and
25%, respectively. In the fourth quarter, demand across Asia,
especially China, exceeded our expectations with the overall APAC
region representing over 83% of total shipments."
Mr. Jin continued, “Growth remains a key focus
for our team and we are optimistic about our prospects in 2017 and
beyond, despite increasing competition in the solar industry.
We are committed to investing in research and development, and
differentiating our product portfolio with high-power,
high-efficiency solar products. We still have some
opportunity to improve our cost structure and manufacturing
performance through efficiency initiatives, and believe our
operations are positioned to benefit as market conditions improve
around the world. Looking ahead, we expect demand in the
domestic Chinese market to remain solid in the first half of 2017,
followed by a potential slowdown in the second half.
Nonetheless, we are confident that our balanced global footprint
and flexible business model will enable us to adjust to evolving
market conditions.”
Fourth Quarter 2016 Results
All shipment and financial figures refer to the
quarter ended December 31, 2016, unless otherwise specified.
All “year over year” or “y/y” comparisons are against the quarter
ended December 31, 2015. All “sequential” comparisons are
against the quarter ended September 30, 2016.
Total shipments were 1,416.2 MW, in line with
our previously announced guidance. External shipments of 1,411.9 MW
increased 5.5% year over year and 13.8% sequentially.
External shipments breakdown by product (MW)
|
2015Q4 |
2016Q3 |
2016Q4 |
QoQ% |
YoY% |
Modules and module tolling |
1,297.6 |
1,200.0 |
1,353.0 |
12.8 |
% |
4.3 |
% |
Cells and cell tolling |
41.2 |
40.9 |
58.9 |
44.0 |
% |
43.0 |
% |
Total |
1,338.8 |
1,240.9 |
1,411.9 |
13.8 |
% |
5.5 |
% |
External shipments breakdown by region
(percentage)
|
2015Q4 |
2016Q3 |
2016Q4 |
QoQ(pp) |
YoY(pp) |
China |
43.8 |
% |
32.0 |
% |
58.0 |
% |
26.0pp |
14.2pp |
APAC ex-China |
40.5 |
% |
25.8 |
% |
25.2 |
% |
-0.6pp |
-15.3pp |
Europe |
5.1 |
% |
6.5 |
% |
3.3 |
% |
-3.2pp |
-1.8pp |
North America |
8.4 |
% |
13.0 |
% |
7.4 |
% |
-5.6pp |
-1.0pp |
South America |
0 |
% |
20.2 |
% |
5.6 |
% |
-14.6pp |
5.6pp |
Others |
2.2 |
% |
2.5 |
% |
0.5 |
% |
-2.1pp |
-1.8pp |
Net revenue was RMB 4.0 billion ($574.8
million), a decrease of 13.1% y/y and 4.1% sequentially.
Gross profit of RMB 515.4 million ($74.2
million) decreased 34.3% y/y and 10.3% sequentially. Gross
margin was 12.9%, which compares to 17.1% in the year-ago quarter,
and 13.8% in the third quarter of 2016. The decrease in gross
margin was primarily due to a decline of average selling price of
solar modules in the fourth quarter of 2016.
Total operating expenses of RMB 144.9 million
($20.9 million) were 3.6% of revenue. This compares to
operating expenses of 11.4% of revenue in the year-ago quarter, and
10.9% of revenue in the third quarter of 2016. Included in
operating expenses in the fourth quarter of 2016 were a one-time
reversal of RMB 348.3 million ($50.2 million) of previously
recorded expenses due to the resolution of the Company’s dispute
with Hemlock Semiconductor Pte. Ltd (“Hemlock”), and a one-time
charge of RMB 99.6 million ($14.3 million) resulted from the
termination of business relationship with one of the Company’s
business partners.
Operating profit was RMB 370.5 million ($53.4
million), compared to RMB 260.1 million ($37.5 million) in the
year-ago quarter, and RMB 121.4 million ($17.5 million) in the
third quarter of 2016. Operating margin was 9.3%, compared
with 5.7% in the prior year period and 2.9% in the previous
quarter.
Interest expense was RMB 72.9 million ($10.5
million), compared to RMB 66.0 million ($9.5 million) in the
year-ago quarter, and RMB 75.4 million ($10.9 million) in the third
quarter of 2016.
The change in fair value of warrant derivatives
was nil, compared with positive RMB 14.0 million ($2.0 million) in
the year-ago quarter, and positive RMB 17 thousand ($2.4 thousand)
in the third quarter of 2016. The warrants were issued on August
16, 2013 in conjunction with the Company’s $96 million registered
direct offering, and expired on August 16, 2016.
Earnings per diluted ADS were RMB 6.80 or $0.98,
compared to earnings per diluted ADS of RMB 3.39 or $0.49 in the
year-ago quarter, and earnings per diluted ADS of RMB 0.86 or $0.12
in the third quarter of 2016.
Fiscal Year 2016 Results
Fiscal year 2016 shipments were 5.2 GW,
including 245.8 MW of modules to the Company’s downstream projects.
External shipments of 4.9 GW represented an increase of 24.9% from
3.9 GW in fiscal year 2015.
External shipments breakdown by product (MW)
|
2015 |
2016 |
YoY% |
Modules and module tolling |
3,672.9 |
4,606.6 |
25.4 |
% |
Cells and cell tolling |
265.0 |
313.8 |
18.4 |
% |
Total |
3,937.9 |
4,920.4 |
24.9 |
% |
External shipments breakdown by region
(percentage)
|
2015 |
|
2016 |
|
YoY(pp) |
China |
42.9 |
% |
53.3 |
% |
10.4pp |
APAC ex-China |
39.9 |
% |
21.6 |
% |
-18.3pp |
Europe |
10.9 |
% |
4.7 |
% |
-6.2pp |
North America |
3.4 |
% |
9.4 |
% |
6.0pp |
South America |
0 |
% |
9.8 |
% |
9.8pp |
Others |
2.9 |
% |
1.2 |
% |
-1.7pp |
Net revenue in fiscal year 2016 was RMB 15.7
billion ($2.3 billion), an increase of 16.4% from RMB 13.5 billion
($1.9 billion) in fiscal year 2015.
Total gross profit in fiscal year 2016 was RMB
2.3 billion ($330.3 million), or 14.6% of net revenue, compared
with RMB 2.3 billion ($330.2 million), or 17.0% of net revenue, in
fiscal year 2015. The decline in gross margin was primarily due to
the decrease of average selling price of solar modules during
2016.
Operating profit in fiscal year 2016 was RMB
903.2 million ($130.1 million), compared with operating profit of
RMB 865.0 million ($124.6 million) in fiscal year 2015. Included in
operating expenses in fiscal year 2016 were a one-time reversal of
RMB 348.3 million ($50.2 million) of previously recorded expenses
due to the resolution of the Company’s dispute with Hemlock, and a
one-time charge of RMB 99.6 million ($14.3 million) resulted from
the termination of business relationship with one of the Company’s
business partners.
In fiscal year 2016, net earnings per diluted
ADS were RMB 14.58 or $2.10, compared with net earnings per diluted
ADS of RMB 10.58 or $1.52 in fiscal year 2015.
Liquidity
As of December 31, 2016, the Company had cash
and cash equivalents of RMB 2.6 billion ($370.1 million), and total
working capital of RMB 1.6 billion ($232.5 million). Total
short-term borrowings were RMB 2.9 billion ($419.5 million). Total
long-term borrowings were RMB 3.2 billion ($464.7 million), of
which RMB 525.3 million ($75.7 million) were due in one year.
Business Outlook
For the first quarter of 2017, the Company
expects total cell and module shipments to be in the range of 1,200
to 1,300 MW, essentially all being external shipments.
Full year 2017 shipments are expected to be in
the range of 6.0 to 6.5 GW, including 200 to 250 MW of module
shipments to the Company’s downstream projects. Revenues will
not be recognized for the modules shipped to the Company’s
downstream projects as required by US GAAP.
Manufacturing Capacity
Update
As of December 31, 2016, the Company had an
annual wafer manufacturing capacity of 2.5 GW, cell capacity of 5.5
GW, and module capacity of 5.5 GW.
JA Solar expects to further expand its annual
manufacturing capacity to 3.0 GW for wafers, 7.0 GW for cells, and
6.0 GW for modules by the end of 2017.
Investor Conference Call / Webcast
Details
JA Solar's management will host an earnings conference call on
March 16, 2017 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. China
Standard Time).Dial-in details for the earnings conference call are
as follows:
|
Phone Number |
Toll-Free Number |
United States |
+1 8456750437 |
+1 8665194004 |
Hong Kong |
+852 30186771 |
+852 800906601 |
Mainland China |
+86 8008190121+86 4006208038 |
|
Other International |
+65 67135090 |
|
Please dial in 10 minutes before the call is scheduled to begin
and provide the passcode to join the call. The passcode is “JA
Solar".A replay of the conference call may be accessed by phone at
the following numbers until March 24, 2017. To access the
replay, please reference the conference ID 78403772.
|
Phone Number |
Toll-Free Number |
United States |
+1 6462543697 |
+1 8554525696 |
Hong Kong |
+852 30512780 |
+852 800963117 |
Mainland China |
+86 8008700206+86 4006322162 |
|
Other International |
+61 281990299 |
|
Additionally, a live and archived webcast of the conference call
will be available on the Investor Relations section of the
Company’s website at http://www.jasolar.com.
Currency Convenience
Translation
The conversion of Renminbi into U.S. dollars in
this release, made solely for the convenience of the reader, is
based on the noon buying rate in the city of New York for cable
transfers of Renminbi as certified for customs purposes by the
Federal Reserve Bank of New York as of December 30, 2016, which was
RMB 6.943 to $1.00. No representation is intended to imply that the
Renminbi amounts could have been, or could be, converted, realized
or settled into U.S. dollars at that rate on December 30, 2016, or
at any other date. The percentages stated in this press release are
calculated based on Renminbi.
Forward-looking Statements
This press release contains forward-looking
statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by words such as
"may," "expect," "anticipate," "aim," "intend," "plan," "believe,"
"estimate," "potential," "continue," and other similar statements.
Statements other than statements of historical facts in this
announcement are forward-looking statements, including but not
limited to, our expectations regarding the expansion of our
manufacturing capacities, our future business development, and our
beliefs regarding our production output and production outlook.
These forward-looking statements involve known and unknown risks
and uncertainties and are based on current expectations,
assumptions, estimates and projections about the Company and the
industry. Further information regarding these and other risks is
included in Form 20-F and other documents filed with the Securities
and Exchange Commission. The Company undertakes no obligation to
update forward-looking statements, except as may be required by
law. Although the Company believes that the expectations expressed
in these forward-looking statements are reasonable, it cannot
assure you that its expectations will turn out to be correct, and
investors are cautioned that actual results may differ materially
from the anticipated results.
About JA Solar Holdings Co.,
Ltd.
JA Solar Holdings Co., Ltd. is a leading
manufacturer of high-performance solar power products that convert
sunlight into electricity for residential, commercial, and
utility-scale power generation. The Company is one of the world’s
largest producers of solar power products. Its standard and
high-efficiency product offerings are among the most powerful and
cost-effective in the industry. The Company distributes products
under its own brand and also produces on behalf of its clients. The
Company shipped 5.2 GW of solar power products in 2016. JA Solar is
headquartered in Beijing, China, and maintains production
facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in
China, as well as Penang, Malaysia and Hanoi, Vietnam.
For more information, please visit
www.jasolar.com.
1 JA Solar adjusts net income attributable to the Company's
ordinary shareholders to exclude changes in fair value of certain
warrants granted to certain investors in a registered direct
offering (the "Offering") closed on August 16, 2013.
JA Solar Holdings Co., Ltd. |
|
Condensed Consolidated Statements of Operations
and Comprehensive Income |
|
(Unaudited) |
|
|
For three months ended |
|
|
Dec. 31, 2015 |
Sep. 30, 2016 |
Dec. 31, 2016 |
Dec. 31, 2016 |
|
|
RMB'000 |
RMB'000 |
RMB'000 |
USD'000 |
|
|
|
|
|
|
|
Net
revenues |
4,594,447 |
|
4,162,927 |
|
3,998,657 |
|
575,926 |
|
|
Cost of
sales |
(3,810,358 |
) |
(3,588,469 |
) |
(3,482,235 |
) |
(501,546 |
) |
|
Gross
profit |
784,089 |
|
574,458 |
|
516,422 |
|
74,380 |
|
|
Selling,
general and administrative expenses |
(482,409 |
) |
(406,194 |
) |
(99,969 |
) |
(14,399 |
) |
|
Research
and development expenses |
(41,536 |
) |
(46,871 |
) |
(44,937 |
) |
(6,472 |
) |
|
Total
operating expenses |
(523,945 |
) |
(453,065 |
) |
(144,906 |
) |
(20,871 |
) |
|
Income
from operations |
260,144 |
|
121,393 |
|
371,516 |
|
53,509 |
|
|
Interest
expense |
(66,018 |
) |
(75,378 |
) |
(72,879 |
) |
(10,497 |
) |
|
Change
in fair value of warrant derivatives |
13,997 |
|
17 |
|
- |
|
- |
|
|
Other
income, net |
33,754 |
|
10,450 |
|
95,453 |
|
13,748 |
|
|
Income
before income taxes |
241,877 |
|
56,482 |
|
394,090 |
|
56,760 |
|
|
Income
tax expense |
(56,995 |
) |
(12,361 |
) |
(29,259 |
) |
(4,214 |
) |
|
Net
income |
184,882 |
|
44,121 |
|
364,831 |
|
52,546 |
|
|
Less:
income/(loss) attributable to noncontrolling interest |
(8,581 |
) |
(715 |
) |
34,922 |
|
5,030 |
|
|
Net
income attributable to JA Solar Holdings |
193,463 |
|
44,836 |
|
329,909 |
|
47,516 |
|
|
|
|
|
|
|
|
Net
income per share attributable to ordinary shareholders: |
|
|
|
|
|
Basic |
0.68 |
|
0.17 |
|
1.41 |
|
0.20 |
|
|
Diluted |
0.68 |
|
0.17 |
|
1.41 |
|
0.20 |
|
|
|
|
|
|
|
|
Weighted
average number of shares outstanding: |
|
|
|
|
|
Basic |
234,281,009 |
|
234,290,842 |
|
234,290,842 |
|
234,290,842 |
|
|
Diluted |
234,510,474 |
|
234,338,817 |
|
234,305,887 |
|
234,305,887 |
|
|
|
|
|
|
|
|
Comprehensive income |
|
|
|
|
|
Net
income |
184,882 |
|
44,121 |
|
364,831 |
|
52,546 |
|
|
Foreign
currency translation adjustments, net of tax |
(4,228 |
) |
(3,776 |
) |
(18,141 |
) |
(2,613 |
) |
|
Other
comprehensive loss |
(4,228 |
) |
(3,776 |
) |
(18,141 |
) |
(2,613 |
) |
|
Comprehensive income |
180,654 |
|
40,345 |
|
346,690 |
|
49,933 |
|
|
Income/(loss) attributable to noncontrolling interest |
(8,581 |
) |
(715 |
) |
34,922 |
|
5,030 |
|
|
Comprehensive income attributable to JA Solar Holdings |
189,235 |
|
41,060 |
|
311,768 |
|
44,903 |
|
|
|
|
|
|
|
|
NON-GAAP
RECONCILIATION |
|
|
|
|
|
|
|
|
|
|
|
GAAP net
income attributable to JA Solar Holdings |
193,463 |
|
44,836 |
|
329,909 |
|
47,516 |
|
|
Change
in fair value of warrant derivatives |
(13,997 |
) |
(17 |
) |
- |
|
- |
|
|
Non-GAAP
net income attributable to JA Solar Holdings |
179,466 |
|
44,819 |
|
329,909 |
|
47,516 |
|
|
|
|
|
|
|
|
Non-GAAP
net income per share attributable to ordinary shareholders: |
|
|
|
|
|
Basic |
0.63 |
|
0.17 |
|
1.36 |
|
0.20 |
|
|
Diluted |
0.63 |
|
0.17 |
|
1.36 |
|
0.20 |
|
|
|
|
|
|
|
|
Non-GAAP
weighted average number of shares outstanding: |
|
|
|
|
|
Basic |
234,281,009 |
|
234,290,842 |
|
234,290,842 |
|
234,290,842 |
|
|
Diluted |
234,510,474 |
|
234,338,817 |
|
234,305,887 |
|
234,305,887 |
|
|
|
|
|
|
|
|
JA Solar Holdings Co., Ltd. |
Condensed Consolidated Statements of
Operations |
(Unaudited) |
|
For twelve months ended |
|
Dec. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2016 |
|
RMB'000 |
RMB'000 |
USD'000 |
|
|
|
|
Net
revenues |
13,525,407 |
|
15,744,891 |
|
2,267,736 |
|
Cost of
sales |
(11,232,818 |
) |
(13,450,356 |
) |
(1,937,254 |
) |
Gross
profit |
2,292,589 |
|
2,294,535 |
|
330,482 |
|
Selling,
general and administrative expenses |
(1,279,023 |
) |
(1,214,933 |
) |
(174,987 |
) |
Research
and development expenses |
(148,548 |
) |
(175,450 |
) |
(25,270 |
) |
Total
operating expenses |
(1,427,571 |
) |
(1,390,383 |
) |
(200,257 |
) |
Income
from operations |
865,018 |
|
904,152 |
|
130,225 |
|
Interest
expense |
(249,382 |
) |
(284,334 |
) |
(40,953 |
) |
Change
in fair value of warrant derivatives |
39,593 |
|
70,882 |
|
10,209 |
|
Other
income, net |
116,574 |
|
153,063 |
|
22,045 |
|
Income
before income taxes |
771,803 |
|
843,763 |
|
121,526 |
|
Income
tax expenses |
(157,332 |
) |
(112,746 |
) |
(16,239 |
) |
Net
income |
614,471 |
|
731,017 |
|
105,287 |
|
Less:
income/(loss) attributable to noncontrolling interest |
(9,244 |
) |
35,911 |
|
5,172 |
|
Net
income attributable to JA Solar Holdings |
623,715 |
|
695,106 |
|
100,115 |
|
|
|
|
|
Net
income per share attributable to ordinary shareholders: |
|
|
|
Basic |
2.12 |
|
2.61 |
|
0.38 |
|
Diluted |
2.12 |
|
2.61 |
|
0.38 |
|
|
|
|
|
Weighted
average number of shares outstanding: |
|
|
|
Basic |
243,506,821 |
|
234,290,842 |
|
234,290,842 |
|
Diluted |
243,744,921 |
|
234,402,452 |
|
234,402,452 |
|
|
|
|
|
Comprehensive income |
|
|
|
Net
income |
614,471 |
|
731,017 |
|
105,287 |
|
Foreign
currency translation adjustments, net of tax |
(35,038 |
) |
(44,126 |
) |
(6,355 |
) |
Other
comprehensive loss |
(35,038 |
) |
(44,126 |
) |
(6,355 |
) |
Comprehensive income |
579,433 |
|
686,891 |
|
98,932 |
|
Income/(loss) attributable to noncontrolling interest |
(9,244 |
) |
35,911 |
|
5,172 |
|
Comprehensive income attributable to JA Solar Holdings |
588,677 |
|
650,980 |
|
93,760 |
|
|
|
|
|
NON-GAAP
RECONCILIATION |
|
|
|
|
|
|
|
GAAP net
income attributable to JA Solar Holdings |
623,715 |
|
695,106 |
|
100,115 |
|
Change
in fair value of warrant derivatives |
(39,593 |
) |
(70,882 |
) |
(10,209 |
) |
Non-GAAP
net income attributable to JA Solar Holdings |
584,122 |
|
624,224 |
|
89,906 |
|
|
|
|
|
Non-GAAP
net income per share attributable to ordinary shareholders: |
|
|
|
Basic |
1.98 |
|
2.62 |
|
0.38 |
|
Diluted |
1.98 |
|
2.61 |
|
0.38 |
|
|
|
|
|
Non-GAAP
weighted average number of shares outstanding: |
|
|
|
Basic |
243,506,821 |
|
234,290,842 |
|
234,290,842 |
|
Diluted |
243,744,921 |
|
234,402,452 |
|
234,402,452 |
|
|
|
|
|
JA Solar Holdings Co., Ltd. |
Condensed Consolidated Balance
Sheets |
(Unaudited) |
|
|
|
|
Dec. 31, |
Dec. 31, |
|
2015 |
2016 |
2016 |
|
RMB'000 |
RMB'000 |
USD'000 |
|
|
ASSETS |
|
|
|
Current
assets: |
|
|
|
Cash and
cash equivalents |
2,883,294 |
2,350,538 |
338,548 |
Restricted cash |
663,518 |
836,761 |
120,519 |
Accounts
receivable |
2,872,775 |
2,758,747 |
397,342 |
Notes
receivable |
837,711 |
563,144 |
81,110 |
Inventories |
1,660,543 |
2,453,466 |
353,373 |
Advances
to suppliers |
473,310 |
282,369 |
40,670 |
Other
current assets |
633,354 |
1,120,479 |
161,383 |
Total current assets |
10,024,505 |
10,365,504 |
1,492,945 |
Property
and equipment, net |
4,365,348 |
5,219,501 |
751,765 |
Project
asset |
1,028,615 |
2,389,842 |
344,209 |
Advances
to suppliers |
195,341 |
97,429 |
14,033 |
Prepaid
land use rights |
428,495 |
524,208 |
75,502 |
Long-term investment |
55,169 |
69,022 |
9,941 |
Other
long term assets |
208,430 |
290,253 |
41,805 |
Total assets |
16,305,903 |
18,955,759 |
2,730,200 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
Current
liabilities: |
|
|
|
Short-term borrowings |
2,194,957 |
2,912,866 |
419,540 |
Accounts
payable |
2,389,467 |
2,635,525 |
379,595 |
Advances
from customers |
691,867 |
607,915 |
87,558 |
Current
portion of long term borrowings |
238,400 |
525,256 |
75,653 |
Derivative liabilities-warrants |
71,237 |
- |
- |
Accrued
and other liabilities |
1,588,885 |
1,830,790 |
263,689 |
Total current liabilities |
7,174,813 |
8,512,352 |
1,226,035 |
Long-term borrowings |
2,461,017 |
2,701,438 |
389,088 |
Other
long term liabilities |
752,925 |
1,268,842 |
182,751 |
Total liabilities |
10,388,755 |
12,482,632 |
1,797,874 |
Total JA Solar Holdings shareholders' equity |
5,819,695 |
6,472,927 |
932,295 |
Noncontrolling interest |
97,453 |
200 |
29 |
Total shareholders' equity |
5,917,148 |
6,473,127 |
932,324 |
Total liabilities and shareholders’ equity |
16,305,903 |
18,955,759 |
2,730,198 |
Contact:
The Blueshirt Group
Ralph Fong
Phone: +1 (415) 489-2195
Email: ralph@blueshirtgroup.com
JA Solar Holdings, Co., Ltd. ADS, Each Representing Five Ordinary Shares (delisted) (NASDAQ:JASO)
Historical Stock Chart
From Aug 2024 to Sep 2024
JA Solar Holdings, Co., Ltd. ADS, Each Representing Five Ordinary Shares (delisted) (NASDAQ:JASO)
Historical Stock Chart
From Sep 2023 to Sep 2024