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Post-Earnings Coverage and Notes -JA Solar Holdings

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LONDON, August 26, 2014 /PRNewswire/ --

Investor-Edge.com has issued complimentary post-earnings coverage and notes on JA Solar Holdings Company Ltd (NASDAQ: JASO). The company was featured in the headlines on Wednesday, August 20, 2014, for reporting a 47.0% Y-o-Y surge in total shipments in Q2 2014. Furthermore, in the reported quarter JA Solar Holdings Co. Ltd'sgross margin improved 710 basis points Y-o-Y. Our freecoverage report can be accessed at:


Earnings Overview  

During Q2 2014, JA Solar Holdings Co. Ltd's total shipments were 681.8 megawatts (MW), compared to 638.1 MW in Q1 2014 and 463.7 MW in Q2 2013. The company's shipments ofmodules and module tolling in Q2 2014 were recorded at 445.8 MW, up14.9% Q-o-Q and up 75.6% Y-o-Y. Meanwhile, shipments ofcells and cell tolling for Q2 2014 stood at 236.0 MW, down 5.7% Q-o-Q and up 12.5% Y-o-Y. The company reported gross profit of RMB 367.90 million ($59.30 million) in Q2 2014 as compared to RMB 380.56 million in Q1 2014 and RMB 128.66 million in Q2 2013. Gross margin improved to 15.2% from 8.1% in Q2 2013, due to improved overall market conditions. However, gross margin decreased 150 basis points Q-o-Q primarily due to a higher percentage of module shipments to China, where the module average selling price declined slightly, and an adjustment of the minimum import price in European Union. The free research on JASO can be downloaded as in PDF format at:


For the quarter ended June 30, 2014, total operating expenses increased to RMB 278.22 million ($44.85 million), compared to RMB 219.69 million, in Q1 2014 and RMB 161.93 millionin  Q2 2013. The company attributed sequential increase in operating expenses to increased freight and insurance expenses associated with increased module shipments, especially to the Americas. As of June 30, 2014, the company had cash and cash equivalents of RMB 2.03 billion ($326.93 million), compared to RMB 2.12 billion as of December 31, 2013. In Q2 2014, the company completed its capacity expansion and now has annual wafer production capacity of 1.0 gigawatt (GW), annual cell production capacity of 2.8 GW, and annual module production capacity of 2.8 GW.

Mr. Baofang Jin, JA Solar Holdings Co. Ltd's Chairman and Chief Executive Officer said that the company had reported satisfactory second quarter 2014 results, with strong revenue growth, continued bottom-line profitability and progress in its transition from cells to modules as the company's main revenue stream, which has helped the company to emerge as a tier 1 module supplier in the world. He informed that the company is moving forward with its downstream business and expects both growth and profitability in the H2 2014,backed by accelerating activity in China, and continued favorable product and geographic mix. The company expects total cell and module shipments to be in the range of 730-760 MW for Q3 2014 and expects to ship between 2.9 -3.1 GW in FY 2014. Sign up and read the free analyst's notes on JASO at:


The Shanghai, China-based company reported net revenue of RMB 2.42 billion ($390.48 million) for Q2 2014, compared to RMB 2.28 billion in Q1 2014 and RMB 1.58 billion in Q2 2013. Net income in Q2 2014 stood at RMB 40.10 million ($6.46 million), compared to RMB 85.01 million, in Q1 2014 and net loss of RMB 132.43 million in Q2 2013. The company's earnings per diluted ADS were RMB 0.59 ($0.10) in Q2 2014, compared to an earnings per diluted ADS of RMB 1.41 ($0.23) in the Q1 2014 and a loss per diluted ADS of RMB 3.58 ($0.58)in Q2 2013. Meanwhile, JA Solar Holdings Co. Ltd's non-GAAP earnings per diluted ADS for Q2 2014 were RMB 0.87 ($0.14), compared to non-GAAP earnings per diluted ADS of RMB 1.99 ($0.32)in  Q1 2014 and non-GAAP loss per diluted ADS of RMB 3.58 ($0.58) in Q2 2013. For Q2 2014, analysts at Bloomberg expected net income of RMB 64.99 million ($10.43 million) and earnings per diluted shareof RMB 1.31 ($0.21) on net revenue of RMB 2.43 billion ($394.0 million).

Stock Performance    

On the day of the earnings release, Wednesday, August 20, 2014, JA Solar Holdings Co. Ltd's shares plummeted 6.31% to end the session at $9.36. On the last close, Monday, August 25, 2014, the stock lost 2.02% further to close at $9.23. The stock vacillated between $9.17 and $9.57 during the session. A total of 2.83 million shares were traded, which was above its three months average volume of 2.46 million shares. JA Solar Holdings Co. Ltd's shares have gained 1.39% in the previous three trading sessions, 3.05% in the last one month, and 4.15 % in the last three months. The company's shares are trading below their 50-day and 200-day moving averages of $9.74 and $9.93, respectively. JA Solar Holdings Co. Ltd's stock has a Relative Strength Index (RSI) of 51.52. Visit Investor-Edge and access the latest research on JASO at:


Sneak Peek to Corporate Insider Trading  

In the last one month, JA Solar Holdings Co. Ltd has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on JASO is available at:


About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.




1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

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Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.


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