JA Solar Investors Applaud Q2 Results, Outlook

JA Solar Holdings Co. Ltd JASO delivered growth in earnings and revenue for the second quarter. The company offered an outlook on shipments.

The company reported net income of RMB 164.1 million, or $24.7 million, up from RMB 136.0 million, or $20.5 million, in the year-ago period. Its EPS per ADS improved from $0.34 to $0.43. On an adjusted basis, its EPS per ADS would have been $0.31, up from $0.25 in the previous year period.

JA Solar's net revenue was RMB 4.1 billion, or $619.0 million, representing an increase of +51.9 percent on year-over-year basis and 18.6 percent on a sequential basis.

Chairman and CEO, Baofang Jin, said, "We are also encouraged by our downstream project development achievements as we successfully connected approximately 250 MW of solar projects to the grid in the quarter. As expected, China was our strongest market in the quarter, driven by accelerated activity ahead of subsidy reductions that occurred this summer."

Moving ahead for the third quarter, JA Solar expects total cell and module shipments to be reach between 1,200 and 1,300 MW. For the full year, the Company confirmed its earlier outlook of 5.2 to 5.5 GW.

In the pre-market, the stock traded up by $0.05, or 0.64 percent, to $7.83 on Wednesday.