JA Solar boosts module shipment guidance on stronger China market

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Major tier-1 integrated PV manufacturer JA Solar reported second quarter financial results within guidance but raised full-year shipment guidance on the back of stronger than expected demand in China.

The company reported total shipments of 681.8MW, 6.8% up from the previous quarter and 47.0% higher, year-on-year.

Modules and module tolling in the quarter was said to have reached 445.8MW, up 14.9% from the prior quarter and up 75.6% year-on-year. 

Solar cell and cell tolling were 236.0MW, down 5.7% sequentially and up 12.5% year-on-year. 

Revenue in the second quarter of 2014 was reported to be US$390.5 million, 6.5% higher than the prior quarter and 52.9% higher year-on-year. 

However, gross margin was 15.2%, down from 16.7% in the previous two quarters, due to shipments in China experiencing softer pricing in the quarter as well as an adjustment was made to the minimum module import prices into the EU market.

Baofang Jin, chairman and CEO of JA Solar, commented, “Our second quarter results were satisfactory, with strong revenue growth, continued bottom-line profitability, and progress in our transition from cells to modules as our main revenue stream. This successful transition has enabled us to emerge as a tier 1 module supplier in the world. Furthermore, we are actively growing our downstream business. In the second half of 2014, we expect to sustain both our growth and profitability, due to accelerating activity in China, and continued favourable product and geographic mix.”

Shipment guidance revised

Indeed, increased shipments in the second half of 2014, notably stronger than expected demand in China for distributed generation and ground mount utility projects led to management upwardly revising shipments targets for the year.

JA Solar said that it expected total cell and module shipments in the third quarter to be in the range of 730MW to 760MW and full-year shipments to be in the range of 2.9GW to 3.1GW, up from previous guidance of 2.7GW to 2.9GW.

Although JA Solar still expects to grid connect around 100MW of PV project business in China by the end of the year, the company is expanding its 2014 pipeline to 200MW, which accounts for part of the shipment guidance increase for the year.

“We are confident in our prospects in the second half of this year. Our optimistic outlook is predicated on several trends. We expect better demand in China as both utility scale and distributed generation projects start construction in the second half. We believe secular demand trends in Japan will continue due to their unique energy needs, and we expect to grow our business in the North American market,” added Jin.

10 November 2021
The solar tracker market continues to mature at breakneck speed, with designs and component selections becoming ever-more complex in the pursuit of better project economics. But a more simplistic design could deliver a triple benefit of lower Capex, EPC and Opex costs. This webinar will set out the ideal single axis tracker design for utility-scale solar farms. The design leapfrogs from decades of experience, with a comprehensive understanding and attention to the three cost structures of Capex, EPC and Opx. Sun and Steel Solar has prototyped a single axis tracker designed to deliver up to US$0.03/W in real savings compared to existing single axis trackers on the market. That’s US$30 million for every gigawatt deployed.
15 November 2021
The 10th edition of the famous Metallization and Interconnection Workshop, MIW2021, will take place in the Thor Central venue in Genk, Belgium, on Monday, November 15, and Tuesday, November 16, 2021 as a face-to-face meeting. We are longing for direct exchange of knowledge and ideas after a long time. Hopefully you can be part of it! But of course, the organizors will keep an eye on the evolution of the Covid pandemic. It will be assess carefully, whether the workshop can be held without major risks or excessive restrictions. We are looking forward to exciting talks, discussions and meetings and to welcoming you in Genk!
23 November 2021
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 23-25 November at the NEC.There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 
24 November 2021
In this webinar we will assess how these technical parameters and land characteristics can make a difference, in order to correctly make the choice between 1P or 2P trackers. There will be a comparison of the behaviour of Soltec’s 1P tracker, SFOne, and its 2P tracker, the SF7.
1 December 2021
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability. This event will be run online with streamed content, access to session recordings and chat/messaging tools for delegates to connect.
2 December 2021
Intersolar is the world’s leading exhibition & conference series for the solar industry. As part of this event series, Intersolar India in Mumbai is India’s most pioneering exhibition and conference for India’s solar industry. It takes place annually and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. Since 2019, Intersolar India is held under the umbrella of The smarter E India – India’s innovation hub for the new energy world.

Read Next

October 28, 2021
A round-up of the latest news from the US solar market, including a new Lightsource bp project in Colorado, CenterPoint’s PV expansion in Indiana and another solar power purchase agreement (PPA) from Facebook.
October 28, 2021
Off-grid, pay-as-you go solar company BBOXX has expanded into Nigeria, the company’s largest market to date, with the aim of providing clean energy access to 20 million people over the next decade
October 28, 2021
US residential solar installer Sunnova is broadening its service offering in areas such as battery storage and electric vehicle charging as it bids to double its customer count over the next two years.
PV Tech Premium
October 28, 2021
With the crucial COP26 summit just days away, PV Tech Premium breaks down the key players and countries for solar to watch at the event
October 27, 2021
More than half of utility-scale solar projects planned for next year could be at risk of delay or cancellation as a result of surging materials and logistics cost, new analysis has claimed.
PV Tech Premium
October 27, 2021
As prices rise and component availability remains tight, both solar’s upstream and downstream are rallying behind the common cause of ensuring which projects can go ahead, do go ahead in a timely fashion. Liam Stoker assesses the industry’s efforts to keep the supply chain moving forward.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021