JA Solar posts $6.3 million net profit in Q3

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.

Image: Sparx Green Energy and Technology

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The Chinese PV manufacturer shipped 1.64 MW of solar capacity, as quarterly external shipments jumped 30.6% year on year, according to its unaudited results for the three months to the end of September. About 20.5 MW of its PV modules were used in the company’s own downstream projects. Its total shipments for the period included 1.58 GW of solar panels, up 31.9% on the year. It also shipped 37.9 MW of PV cells, down 7.3% year on year.

Baofang Jin, chairman and CEO of JA Solar, said the results were within the company’s expectations. “We are seeing some uncertainties around the ongoing trade cases in the U.S. and India, which could impact global solar demand in the mid-term,” Jin said.

JA Solar shipped 2.14 GW of solar modules in the second quarter. However, its net profit for the three months to the end of June fell sharply to CNY 47.4 million, down roughly 83% year on year.

The company expects to ship between 1,600 MW to 1,800 MW of PV cells and solar panels in the fourth quarter of this year. The bulk of those shipments will be to external customers, it said.

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