JA Solar

JA Solar has recorded a net profit of CNY 41.9 million ($6.3 million) in the third quarter of 2017, down nearly 5% year on year, as revenue slid 27.1% from the preceding quarter to CNY 4.3 billion.

Financial reports from PV manufacturers and shipment numbers from the first half indicate high market demand.

Chinese crystalline module manufacture JA Solar shipped 2.147 GW of modules, and a further 167.2 MW of cells to external customers, as well as 74.5 MW to its own downstream projects. This makes JA Solar only the second company to exceed 2 GW in shipments for a single quarter.

The Ukrainian coal and power producer had started construction on the Tryfonivka solar facility in March.

Fire at the Chinese solar firm’s Yangzhou cell facility raged for a few hours but was contained to old production lines. Production disruption is expected to be minimal. Company also confirms 50 MW module deal in Malaysia.

Baofeng Jin, JA Solar’s CEO and chairman, and the Jinglong Group – a British Virgin Islands company of which Jin is the sole director – has applied to acquire all of JA Solar’s outstanding shares in revised update of 2015 takeover bid.

The Tier-1 Chinese solar company saw its profit slip both sequentially and year-over-year, however, as lower average selling prices continued to fall. Company will seek opportunities to streamline operations moving forward.

The bundle includes a new JA Solar inverter as the Tier-1 solar firm pursues larger market share of China’s distributed generation sector. Growatt also bullish on rooftop potential in China.

A solid fourth quarter ended a good year for the Tier-1 Chinese solar company, where shipments topped 5.2 GW and revenue reached $2.3 billion.

The Tier 1 solar company ups its projected module and cell shipments projection above guidance figures to 5.1 GW to 5.2 GW, with revenue for the year expected to be around $2.2 billion.