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.JA Solar, the Tier-1 vertically integrated Chinese solar company, has posted strong 2016 financial results that reveal a 16% annual increase in revenue and a 25% year-on-year (YOY) growth in shipments.
The company posted net revenue for the year of RMB 15.7 billion ($2.3 billion), which was 25% up from 2015's RMB 13.5 billion ($1.9 billion), driving operating profit of $130.1 million - a slight increase on 2015's operating profit of $124.6 million.
However, ending the year with cash and cash equivalents of $370 million, JA Solar's final cash balance was in a slightly poorer state than at the end of 2015 despite that 16% increase in shipments. Lower average selling prices (ASPs) in China and globally weighed on the company's cost structure, with net income reaching RMB 719.6 million ($103.6 million) and gross margin contracting slightly to 14.6%, down from 17% in 2015. Gross profit, meanwhile, held steady at $330.3 million (compared to $330.2 million in 2015).
Nevertheless, the 5.2 GW of shipments for the year surpassed guidance, ...Den vollständigen Artikel lesen ...