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Solar PV Corporate News Release
Hanwha Q CELLS Reports Second Quarter 2018 Results
Aug 13, 2018
JinkoSolar Announces Second Quarter 2018 Financial Results
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SunPower Reports Second Quarter 2018 Results
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Hanwha Q CELLS Reports First Quarter 2018 Results
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First Solar, Inc. Announces First Quarter 2018 Financial Results
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Hanwha Q CELLS Reports Fourth Quarter and Full Year 2017 Results
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JinkoSolar Announces Fourth Quarter and Full Year 2017 Financial Results
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Canadian Solar Reports Fourth Quarter and Full Year 2017 Results
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First Solar, Inc. Announces Fourth Quarter & Full Year 2017 Financial Results
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SunPower Reports Fourth Quarter and FY 2017 Results
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Benefiting from the Leading Edge Technology, TZS Announced Mono-Crystalline Wafer Price Modification
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Canadian Solar Reports First Quarter 2017 Results
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JinkoSolar Announces First Quarter 2017 Financial Results
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Hanwha Q CELLS Reports
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JA Solar Announces First Quarter 2017 Results
May 24, 2017
Yingli Green Energy Reports Fourth Quarter and Full Year 2016 Results
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Hanwha Q CELLS Reports Fourth Quarter and Full Year 2016 Results
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JA Solar Announces Fourth Quarter and Fiscal Year 2016 Results
Mar 16, 2017
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Mar 01, 2017
Heraeus enables significant higher efficiency gains with three new metallization pastes
Mar 01, 2017
First Solar, Inc. Announces Fourth Quarter & Full Year 2016 Financial Results
Feb 22, 2017
SunPower Reports Fourth Quarter 2016 Results
Feb 16, 2017
Trina Solar Announces Third Quarter 2016 Results
Nov 23, 2016
Canadian Solar Reports Third Quarter 2016 Results
Nov 21, 2016
JASolar Announces Third Quarter 2016 Financial Results
Nov 17, 2016
JinkoSolar Announces Third Quarter 2016 Financial Results
Nov 16, 2016
SunPower Reports Third Quarter 2016 Results
Nov 10, 2016
First Solar, Inc. Announces Third Quarter 2016 Financial Results
Nov 03, 2016
Hanwha Q CELLS Reports Second Quarter 2016 Results
Aug 23, 2016
Yingli Green Energy Reports Second Quarter 2016 Results
Aug 23, 2016
Canadian Solar Reports Second Quarter 2016 Results
Aug 18, 2016
JA Solar Announces Second Quarter 2016 Results
Aug 17, 2016
SunPower Reports Second Quarter 2016 Results
Aug 10, 2016
First Solar, Inc. Announces Second Quarter 2016 Financial Results
Aug 04, 2016
First Solar, Inc. Announces First Quarter 2016 Financial Results
Apr 27, 2016
JinkoSolar Announces Fourth Quarter and Full Year 2015 Financial Results
Mar 01, 2016
First Solar, Inc. Announces Fourth Quarter & Full Year 2015 Financial Results
Feb 24, 2016
SunPower Corp. announced financial results for its fourth quarter and fiscal year ended Jan. 3, 2016
Feb 18, 2016
Trina Solar Announces Receipt of a Preliminary Non-Binding Proposal to Acquire the Company
Dec 14, 2015
Hanwha Q CELLS Reports Third Quarter 2015 Results
Nov 19, 2015
JinkoSolar Announces Third Quarter 2015 Financial Results
Nov 19, 2015
JA Solar Announces Third Quarter 2015 Results
Nov 17, 2015
SunPower Announces Fiscal Year 2016 Guidance
Nov 12, 2015
SunEdison Reports Third Quarter 2015 Results
Nov 10, 2015
Canadian Solar Reports Third Quarter 2015 Results
Nov 10, 2015
Yingli Green Energy Reports Second Quarter 2015 Results
Sep 08, 2015
Hanwha Q CELLS Reports Second Quarter 2015 Results
Aug 27, 2015
TSMC to Cease Solar Manufacturing Operations
Aug 25, 2015
JinkoSolar Announces Better-Than-Expected Second Quarter 2015 Financial Results
Aug 20, 2015
Trina Solar Announces $43.1 million of Net Profits for Second Quarter 2015 Results
Aug 18, 2015
First Solar, Inc. Announces Second Quarter 2015 Financial Results with $896 million of Net sales.
Aug 05, 2015
Sunpower announced financial results of 377 million net profits for its second fiscal quarter ended June 28, 2015.
Jul 29, 2015
8point3 Energy Partners LP, a YieldCo Formed by First Solar, Inc. and SunPower Corporation, Announces Pricing of its Ini
Jun 19, 2015
JA Solar and Essel Infraprojects Limited Sign MOU on 500MW PV Joint Venture
May 25, 2015
First Solar, Inc. Announces First Quarter 2015 Financial Results with net loss of USD 62 million
May 01, 2015
Israeli Parliament Solar Project Adopts JA Solar Modules
Apr 07, 2015
JA Solar Supplies Modules Again to First Large-Scale Solar Farm in Central America
Mar 16, 2015
Hyundai offers compact 250W high-performance modules for UK rooftop market
Mar 12, 2015
JA Solar Launching 1500V PV Module
Mar 09, 2015
Trina Solar Announces New Efficiency Records for Silicon Solar Cells
Mar 05, 2015
Canadian Solar Reports Fourth Quarter and Full Year 2014 Results
Mar 05, 2015
JA Solar Makes Breakthrough in South Pacific Market in 2014
Feb 05, 2015
First Solar Achieves Efficiency, Durability Milestones
Feb 05, 2015
JA Solar Reaches 100MWp of PV Module Shipments to Solarcentury for UK Projects in 2014
Jan 05, 2015
JA Solar Supplies 100MW of Modules to First Large-Scale Solar Farm in Pakistan
Jan 05, 2015
Hanwha Solarone Files Shareholder Circular for Acquisition of Hanwha Q CELLS
Dec 29, 2014
Motech and Topcell Announced the Signing of Merger Agreement
Dec 26, 2014
JA Solar Supplies 100MW of Modules to First Large-Scale Solar Farm in Pakistan
Dec 08, 2014
Yingli Green Energy Reports Third Quarter 2014 Results
Nov 25, 2014
Trina Solar Announces Third Quarter 2014 Results
Nov 24, 2014
Hanwha SolarOne Reports Third Quarter 2014 Results
Nov 21, 2014
JA Solar Announces Third Quarter 2014 Results
Nov 19, 2014
Trina Solar Announces New Efficiency Records for Silicon Solar Cells
Nov 17, 2014
JA Solar Sets Power Output Record of over 280W for Multi-Si 60-cells Solar Modules
Nov 17, 2014
SunPower Announces Fiscal Year 2015 Guidance
Nov 13, 2014
WINAICO launches patented micro-crack preventing HeatCap technology at PV Taiwan
Oct 22, 2014
Trina Solar Announces Fourth Quarter and Full Year 2014 Results
Jan 01, 1970
First Solar, Inc. Announces Third Quarter 2017 Financial Results
Jan 01, 1970

JA Solar Announces Fourth Quarter and Fiscal Year 2017 Results

BEIJING, April 30, 2018 - 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, 2017.

Fourth Quarter 2017 Highlights

Total shipments were 2,205.9 megawatts ("MW"), consisting of 2,088.1 MW of modules and 102.8 MW of cells to external customers, and 15.0 MW of modules to the Company's downstream projects. External shipments were up 55.2% y/y and 35.2% sequentially

Shipments of modules and module tolling were 2,088.1 MW, an increase of 54.3% y/y and 31.9% sequentially

Shipments of cells and cell tolling were 102.8 MW, an increase of 74.5% y/y and 171.2% sequentially

Net revenue was RMB 5.7 billion ($871.8 million), an increase of 42.1% y/y and 30.6% sequentially

Gross margin was 12.2%, a decrease of 70 basis points y/y and an increase of 40 basis points sequentially

Operating profit was RMB 210.7 million ($32.4 million), compared to RMB 370.5 million ($56.9 million) in the fourth quarter of 2016, and RMB 169.8 million ($26.1 million) in the third quarter of 2017

Net income was RMB 115.5 million ($17.8 million), compared to RMB 353.4 million ($54.3 million) in the fourth quarter of 2016, and RMB 41.9 million ($6.4 million) in the third quarter of 2017

Earnings per diluted ADS were RMB 2.46 or $0.38, compared to RMB 6.80 or $1.05 in the fourth quarter of 2016, and RMB 0.89 or $0.14 in the third quarter of 2017
 Cash and cash equivalents were RMB 1.5 billion ($226.5 million), a decrease of RMB 583.3 million ($89.6 million) during the quarter

 Non-GAAP earnings1 per diluted ADS were RMB 2.46 or $0.38, compared to RMB 6.80 or $1.05 in the fourth quarter of 2016, and RMB 0.89 or $0.14 in the third quarter of 2017

Fiscal Year 2017 Highlights

Total shipments were 7.6 gigawatts ("GW"), consisting of 7,143.1 MW of modules and module tolling and 358.0 MW of cells and cell tolling to external customers, and 127.4 MW of modules to the Company's downstream projects. External Shipments represented an increase of 52.4% from 4.9 GW in fiscal year 2016
 Net revenue was RMB 19.7 billion ($3.0 billion), compared to RMB 15.7 billion ($2.4 billion) in fiscal year 2016
 Gross margin was 12.3%, compared to 14.6% in fiscal year 2016
 Operating profit was RMB 715.7 million ($110.0 million), compared to an operating profit of RMB 903.2 million ($138.8 million) in fiscal year 2016
 Net income was RMB 300.1 million ($46.1 million), compared to RMB 719.6 million ($110.6 million) in fiscal year 2016
 Earnings per diluted ADS were RMB 6.40 or $0.98, compared to RMB 14.58 or $2.24 in fiscal year 2016
 Cash and cash equivalents were RMB 1.5 billion ($226.5 million), compared to RMB 2.6 billion ($394.9 million) at the end of fiscal year 2016
 Non-GAAP net income attributable to the Company's ordinary shareholders was RMB 300.1 million ($46.1 million), compared to a non-GAAP net income attributable to the Company's ordinary shareholders of RMB 612.8 million ($94.2 million) in fiscal year 2016

Non-GAAP earnings per diluted ADS was RMB 6.40 ($0.98), compared to a non-GAAP earnings per diluted ADS of RMB 13.07 ($2.01) in fiscal year 2016

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, "Overall 2017 results were largely in-line with our expectations. While net revenue grew 25% year-over-year, gross margin was negatively impacted by lower ASPs and rising material costs. Additionally, higher operating expenses led to a decline in operating profits and net income in 2017 when compared to 2016."

Mr. Jin continued, "Despite the negative impact of the Section 201 trade case, we continue to invest in R&D to develop high-performance products to strengthen our competitive position. We are confident that our technologies, high-reliability products and balanced global footprint will continue to position JA Solar for a solid future."

Fourth Quarter 2017 Results

All shipment and financial figures refer to the quarter ended December 31, 2017, unless otherwise specified. All "year over year" or "y/y" comparisons are against the quarter ended December 31, 2016. All "sequential" comparisons are against the quarter ended September 30, 2017.

Total shipments were 2,205.9 MW, above the guidance range of 1,600 to 1,800 MW. External shipments of 2,190.9 MW increased 55.2% year over year and 35.2% sequentially.

External shipments breakdown by product (MW)

 

2016Q4

2017Q3

2017Q4

QoQ%

YoY%

Modules and module tolling

1,353.0

1,582.5

2,088.1

31.9%

54.3%

Cells and cell tolling

58.9

37.9

102.8

171.2%

74.5%

Total

1,411.9

1620.4

2,190.9

35.2%

55.2%

 

 

 

 

 

 

External shipments breakdown by region (percentage)

 

2016Q4

2017Q3

2017Q4

QoQ(pp)

YoY(pp)

China

58.0%

47.3%

43.3%

-4.0pp

-14.7pp

APAC ex-China

25.2%

16.3%

21.7%

5.4pp

-3.5pp

Europe

3.3%

14.1%

7.3%

-6.8pp

4.0pp

North America

7.4%

17.2%

24.5%

7.3pp

17.1pp

South America

5.6%

0.4%

0.2%

-0.2pp

-5.4pp

Others

0.5%

4.7%

3.0%

-1.7pp

2.5pp

 

 

 

 

 

 

Net revenue was RMB 5.7 billion ($871.8 million), an increase of 42.1% y/y and 30.6% sequentially.

Gross profit of RMB 691.6 million ($106.3 million) increased 34.2% y/y and 34.7% sequentially. Gross margin was 12.2%, which compares to 12.9% in the year-ago quarter, and 11.8% in the third quarter of 2017.

Total operating expenses of RMB 480.9 million ($73.9 million) were 8.5% of revenue. This compares to operating expenses of 3.6% of revenue in the year-ago quarter, and 7.9% of revenue in the third quarter of 2017.

Operating profit was RMB 210.7 million ($32.4 million), compared to RMB 370.5 million ($57.0 million) in the year-ago quarter, and RMB 169.8 million ($26.1 million) in the third quarter of 2017. Operating margin was 3.7%, compared with 9.3% in the prior year period and 3.9% in the previous quarter.

Interest expense was RMB 78.2 million ($12.0 million), compared to RMB 72.9 million ($11.2 million) in the year-ago quarter, and RMB 80.3 million ($12.3 million) in the third quarter of 2017.

Earnings per diluted ADS were RMB 2.46 or $0.38, compared to earnings per diluted ADS of RMB 6.80 or $1.05 in the year-ago quarter, and earnings per diluted ADS of RMB 0.89 or $0.14 in the third quarter of 2017.

Fiscal Year 2017 Results

Fiscal year 2017 shipments were 7.6 GW, including 127.4 MW of modules to the Company's downstream projects. External shipments of 7.5 GW represented an increase of 52.4% from 4.9 GW in fiscal year 2016.

External shipments breakdown by product (MW)

 

2016

2017

YoY%

Modules and module tolling

4,606.6

7,143.1

55.1%

Cells and cell tolling

313.8

358.0

14.1%

Total

4,920.4

7,501.1

52.4%

 

 

 

 

External shipments breakdown by region (percentage)

 

2016

2017

YoY(pp)

China

53.3%

48.4%

-4.90pp

APAC ex-China

21.6%

25.6%

4.00pp

Europe

4.7%

7.8%

3.10pp

North America

9.4%

14.9%

5.50pp

South America

9.8%

0.3%

-9.50pp

Others

1.2%

3.0%

1.80pp

 

 

 

 

Net revenue in fiscal year 2017 was RMB 19.7 billion ($3.0 billion), an increase of 25.5% from RMB 15.7 billion ($2.4 billion) in fiscal year 2016.

Total gross profit in fiscal year 2017 was RMB 2.4 billion ($370.3 million), or 12.3% of net revenue, compared with RMB 2.3 billion ($352.5 million), or 14.6% of net revenue, in fiscal year 2016.

Operating profit in fiscal year 2017 was RMB 715.7 million ($110.0 million), compared with operating profit of RMB 903.2 million ($138.8 million) in fiscal year 2016.

Net income in fiscal year 2017 was RMB 300.1 million ($46.1 million), compared with net income of RMB 719.6 million ($110.6 million) in fiscal year 2016.

In fiscal year 2017, net earnings per diluted ADS were RMB 6.40 or $0.98, compared with net earnings per diluted ADS of RMB 14.58 or $2.24 in fiscal year 2016.

Liquidity

As of December 31, 2017, the Company had cash and cash equivalents of RMB 1.5 billion ($226.5 million), and total working capital of RMB 12.6 million ($1.9 million). Total short-term borrowings were RMB 2.9 billion ($447.4 million). Total long-term borrowings were RMB 3.1 billion ($469.9 million), of which RMB 996.0 million ($153.1 million) were due in one year.

Currency Convenience Translation

The conversion of Renminbi into U.S. dollars in this release, made solely for the convenience of the reader, is based on the noon buying rate in the city of New York for cable transfers of Renminbi as certified for customs purposes by the Federal Reserve Bank of New York as of December 29, 2017, which was RMB 6.506 to $1.00. No representation is intended to imply that the Renminbi amounts could have been, or could be, converted, realized or settled into U.S. dollars at that rate on December 29, 2017, or at any other date. The percentages stated in this press release are calculated based on Renminbi.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

About JA Solar Holdings Co., Ltd.

JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world's largest producers of solar power products. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company distributes products under its own brand and also produces on behalf of its clients. The Company shipped 7.6 GW of solar power products in 2017. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu, Inner Mongolia and Anhui provinces in China, as well as Penang, Malaysia and Bac Giang, Vietnam.

For more information, please visit www.jasolar.com.

1 JA Solar adjusts net income attributable to the Company's ordinary shareholders to exclude changes in fair value of certain warrants granted to certain investors in a registered direct offering (the "Offering") closed on August 16, 2013.

 

JA Solar Holdings Co., Ltd.

Condensed Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

 

For three months ended

 

Dec. 31, 2016

 

Sep. 30, 2017

 

Dec. 31, 2017

 

Dec. 31, 2017

 

 

RMB'000

 

RMB'000

 

RMB'000

 

USD'000

 

 

 

 

 

 

 

 

 

 

Net revenues

3,990,642

 

4,341,718

 

5,672,120

 

871,789

 

Cost of sales

(3,475,213

)

(3,828,137

)

(4,980,563

)

(765,499

)

Gross profit

515,429

 

513,581

 

691,557

 

106,290

 

Selling, general and administrative expenses

(99,969

)

(302,786

)

(437,812

)

(67,290

)

Research and development expenses

(44,937

)

(40,964

)

(43,047

)

(6,616

)

Total operating expenses

(144,906

)

(343,750

)

(480,859

)

(73,906

)

Income from operations

370,523

 

169,831

 

210,698

 

32,384

 

Interest expense

(72,879

)

(80,283

)

(78,238

)

(12,025

)

Change in fair value of warrant derivatives

0

 

  - 

 

  - 

 

  - 

 

Other income/(loss), net

95,596

 

(35,594

)

6,780

 

1,042

 

Income before income taxes

393,240

 

53,954

 

139,240

 

21,401

 

Income tax expense

(39,814

)

(12,061

)

(23,737

)

(3,648

)

Net income

353,426

 

41,893

 

115,503

 

17,753

 

Less: loss attributable to noncontrolling interest

34,922

 

  - 

 

  - 

 

  - 

 

Net income attributable to JA Solar Holdings

318,504

 

41,893

 

115,503

 

17,753

 

 

 

 

 

 

Net income per share attributable to ordinary shareholders:

 

 

 

 

  Basic

1.36

 

0.18

 

0.49

 

0.08

 

  Diluted

1.36

 

0.18

 

0.49

 

0.08

 

 

 

 

 

 

Weighted average number of shares outstanding:

 

 

 

 

  Basic 

234,290,842

 

234,360,842

 

234,361,641

 

234,361,641

 

  Diluted

234,305,887

 

234,383,172

 

234,459,146

 

234,459,146

 

 

 

 

 

 

Comprehensive income

 

 

 

 

Net income

353,426

 

41,893

 

115,503

 

17,753

 

  Foreign currency translation adjustments, net of tax

(18,532

)

3,276

 

661

 

102

 

Other comprehensive (loss)/income

(18,532

)

3,276

 

661

 

102

 

Comprehensive income

334,894

 

45,169

 

116,164

 

17,855

 

Loss attributable to noncontrolling interest

34,922

 

  - 

 

  - 

 

  - 

 

Comprehensive income attributable to JA Solar Holdings

299,972

 

45,169

 

116,164

 

17,855

 

 

 

 

 

 

NON-GAAP RECONCILIATION

 

 

 

 

 

 

 

 

 

GAAP net income attributable to JA Solar Holdings

318,504

 

41,893

 

115,503

 

17,753

 

Change in fair value of warrant derivatives

0

 

  - 

 

  - 

 

  - 

 

Non-GAAP net income attributable to JA Solar Holdings

318,504

 

41,893

 

115,503

 

17,753

 

 

 

 

 

 

Non-GAAP net income per share attributable to ordinary shareholders:

 

 

 

 

  Basic

1.36

 

0.18

 

0.49

 

0.08

 

  Diluted

1.36

 

0.18

 

0.49

 

0.08

 

 

 

 

 

 

Non-GAAP weighted average number of shares outstanding:

 

 

 

 

  Basic

234,290,842

 

234,360,842

 

234,361,641

 

234,361,641

 

  Diluted

234,305,887

 

234,383,172

 

234,459,146

 

234,459,146

 

 

 

 

 

 

Note:  JA Solar excludes net income attributable to the participating warrant holder of RMB 4.5 million (US$0.7 million) from the numerator of basic EPS in the third quarter of 2016.

 

 

 

JA Solar Holdings Co., Ltd.

Condensed Consolidated Statements of Operations

(Unaudited)

 

For  twelve months ended

 

Dec. 31, 2016

 

Dec. 31, 2017

 

Dec. 31, 2017

 

 

RMB'000

 

RMB'000

 

USD'000

 

 

 

 

 

 

 

 

Net revenues

15,736,876

 

19,659,454

 

3,021,603

 

Cost of sales

(13,443,335

)

(17,250,142

)

(2,651,298

)

Gross profit

2,293,541

 

2,409,312

 

370,305

 

Selling, general and administrative expenses

(1,214,933

)

(1,533,521

)

(235,698

)

Research and development expenses

(175,450

)

(160,137

)

(24,613

)

Total operating expenses

(1,390,383

)

(1,693,658

)

(260,311

)

Income from operations

903,158

 

715,654

 

109,994

 

Interest expense

(284,334

)

(324,413

)

(49,861

)

Change in fair value of warrant derivatives

70,882

 

  - 

 

  - 

 

Other income, net

153,205

 

7,356

 

1,131

 

Income before income taxes

842,911

 

398,597

 

61,264

 

Income tax expenses

(123,301

)

(98,470

)

(15,135

)

Net income

719,610

 

300,127

 

46,129

 

Less: income attributable to noncontrolling interest

35,911

 

  - 

 

  - 

 

Net income attributable to JA Solar Holdings

683,699

 

300,127

 

46,129

 

 

 

 

 

Net income per share attributable to ordinary shareholders:

 

 

 

  Basic

2.92

 

1.28

 

0.20

 

  Diluted

2.92

 

1.28

 

0.20

 

 

 

 

 

Weighted average number of shares outstanding:

 

 

 

  Basic

  234,290,842

 

  234,331,621

 

  234,331,621

 

  Diluted

  234,402,452

 

  234,369,595

 

  234,369,595

 

 

 

 

 

Comprehensive income

 

 

 

Net income

719,610

 

300,127

 

46,129

 

  Foreign currency translation adjustments, net of tax

(44,517

)

4,233

 

651

 

Other comprehensive (loss)/income

(44,517

)

4,233

 

651

 

Comprehensive income

675,093

 

304,360

 

46,780

 

Income attributable to noncontrolling interest

35,911

 

  - 

 

  - 

 

Comprehensive income attributable to JA Solar Holdings

639,182

 

304,360

 

46,780

 

 

 

 

 

NON-GAAP RECONCILIATION

 

 

 

 

 

 

 

GAAP net income attributable to JA Solar Holdings

683,699

 

300,127

 

46,129

 

Change in fair value of warrant derivatives

(70,882

)

  - 

 

  - 

 

Non-GAAP net income attributable to JA Solar Holdings

612,817

 

300,127

 

46,129

 

 

 

 

 

Non-GAAP net income per share attributable to ordinary shareholders:

 

 

 

  Basic

2.62

 

1.28

 

0.20

 

  Diluted

2.61

 

1.28

 

0.20

 

 

 

 

 

Non-GAAP weighted average number of shares outstanding:

 

 

 

  Basic

234,290,842

 

234,331,621

 

234,331,621

 

  Diluted

234,402,452

 

234,369,595

 

234,369,595

 

 

 

 

 

 

 

JA Solar Holdings Co., Ltd.

Condensed Consolidated Balance Sheets

(Unaudited)

 

 

 

 

 

Dec. 31,

Dec. 31,

 

2016

2017

2017

 

RMB'000

RMB'000

USD'000

 

 

ASSETS

 

 

 

Current assets: 

 

 

 

Cash and cash equivalents

  2,569,402

  1,473,455

  226,466

Restricted cash

  836,761

  1,006,252

  154,658

Accounts receivable 

  2,753,678

  2,770,111

  425,758

Notes receivable 

  563,144

  77,995

  11,988

Inventories

  2,460,488

  3,481,116

  535,038

Advances to suppliers

  282,369

  321,344

  49,390

Other current assets

  799,314

  847,705

  130,290

Total current assets

  10,265,156

  9,977,978

  1,533,588

Property and equipment, net

  5,219,501

  6,539,197

  1,005,056

Project asset

  2,338,648

  2,945,613

  452,732

Advances to suppliers

  97,429

  60,666

  9,324

Prepaid land use rights

  524,208

  525,323

  80,741

Long-term investment

  69,022

  67,656

  10,399

Other long term assets

  517,292

  715,412

  109,956

Total assets

  19,031,256

  20,831,845

  3,201,796

LIABILITIES AND SHAREHOLDERS' EQUITY

 

 

 

Current liabilities:

 

 

 

Short-term borrowings 

  2,912,866

  2,910,859

  447,391

Accounts payable 

  2,635,525

  3,481,239

  535,057

Advances from customers

  610,718

  719,016

  110,511

Current portion of long term borrowings

  525,256

  996,010

  153,084

Accrued and other liabilities 

  1,966,475

  1,858,266

  285,610

Total current liabilities

  8,650,840

  9,965,390

  1,531,653

Long-term borrowings 

  2,701,438

  2,061,399

  316,831

Other long term liabilities

  1,217,648

  2,038,926

  313,377

Total liabilities

  12,569,926

  14,065,715

  2,161,861

Total JA Solar Holdings shareholders' equity

  6,461,130

  6,765,930

  1,039,904

Noncontrolling interest

  200

  200

  31

Total shareholders' equity

  6,461,330

  6,766,130

  1,039,935

Total liabilities and shareholders' equity

  19,031,256

  20,831,845

  3,201,796

 

 

 

 

 

 

JA Solar Holdings Co., Ltd.

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