This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

JA Solar Announces Fourth Quarter And Fiscal Year 2012 Results

Stocks in this article: JASO

SHANGHAI, China, March 25, 2013 (GLOBE NEWSWIRE) -- 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, 2012.

Fourth Quarter 2012 Highlights

  • Shipments were 500 MW, above the high end of the Company's previous guidance of 420 MW, and exceeding the 418 MW shipped in the third quarter of 2012
  • Net revenue wa s RMB 1.7 billion ($268.1 million) , an increase of 1.8% from RMB 1.6 billion ($263.2 million) in the third quarter of 2012
  • Gross margin was negative 4.6 %, compared with negative 5.9 % in the third quarter of 2012
  • Operating loss was RMB 549.6 million ($88.2 million), compared with operating loss of RMB 631.3 million ($101.3 million) in the third quarter of 2012
  • Net loss was RMB 637.9 million ($102.4 million), compared with a net loss of RMB 371.4 million ($59.6 million) in the third quarter of 2012. Loss per diluted ADS 1 was RMB 16.50 ($2.65), compared with a loss per diluted ADS of RMB 9.55 ($1.53) in the third quarter of 2012
  • Operating cash flow was negative RMB 27.5 million ($4.4 million), compared with positive RMB 176.1 million ($28.2 million) in the third quarter of 2012
  • Cash and cash e quivalents at the end of the quarter were RMB 3.0 billion ($486.6 million) , compared with RMB 3.4 billion ($548.5 million) at the end of the third quarter of 2012

Fiscal Year 2012 Highlights

  • Shipments grew to approximately 1.7 GW, an increase of 0.4% from 1.69 GW in fiscal year 2011
  • Net revenue was RMB 6.7 billion ($1.1 billion), compared with net revenue of RMB 10.7 billion ($1.7 billion) in fiscal year 2011
  • Gross margin was negative 0.8%, compared with gross margin of positive 4.3% in fiscal year 2011
  • Operating loss was RMB 1.5 billion ($240.1 million), compared with operating loss of RMB 420.5 million ($67.5 million) in fiscal year 2011
  • Net loss was RMB 1.7 billion ($275.8 million) and loss per diluted ADS was RMB 44.10 ($7.10), compared with loss per diluted ADS of RMB 16.90 ($2.71) in fiscal year 2011
  • Operating cash flow was positive RMB 8.6 million ($1.4 million), compared with operating cash flow of positive RMB 364.4 million ($58.5 million) in fiscal year 2011
  • Cash and cash equivalents at the end of the year were RMB 3.0 billion ($486.6 million), compared with RMB 3.9 billion ($624.2 million) at the end of fiscal year 2011

1 Each ADS represents five ordinary shares, effective on December 10, 2012.

Mr. Baofang Jin, executive chairman and CEO of JA Solar, commented, "2012 was another challenging year for the solar sector as industry-wide overcapacity continued to put downward pressure on ASP and margins. In response, we have been readjusting and optimizing our business to ensure we maintain our market-leading position. In the fourth quarter, shipments exceeded the top end of our prior guidance, largely due to a better-than-expected performance across key growth markets. The proportion of modules , including module tolling, in our overall product mix increased to 64.4% of total shipments and 70.1% of revenue by the fourth quarter."

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs