SHANGHAI, China, May 20, 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 first quarter ended March 31, 2013.
- Shipments were 442.7 MW, consisting of 248.0 MW of modules , 189.5 MW of cells , and 5.2 MW of module and cell tolling, exceeding the high end of the Company's previous guidance of 430 MW and representing a decrease of 11.5% from the fourth quarter of 2012
- Net revenue was RMB 1.7 billion ($270.0 million), compared to RMB 1.7 billion ($ 268.9 million) in the fourth quarter of 2012
- Gross margin was positive 6.0%, compared to gross margin of negative 4.6% in the fourth quarter of 2012
- Operating loss was RMB 85.2 million ($13.7 million), compared to operating loss of RMB 493.9 million ($79.5 million) in the fourth quarter of 2012
- Net loss was RMB 206.5 million ($33.3 million), of which net loss attributable to ordinary shareholders was RMB 204.3 million ($32.9 million)
- Loss per diluted ADS was RMB 5.29 ($0.85), compared to loss per diluted ADS of RMB 15.06 ($2.42) in the fourth quarter of 2012
- Cash and cash equivalents at the end of the quarter were RMB 2.8 billion ($454.9 million), compared to RMB 3.0 billion ($ 488.1 million ) at the end of the fourth quarter of 2012