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ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, May 26, 2017 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or "JA"), one of the world's largest manufacturers of high-performance solar power products, today announced that it will hold its annual general meeting of shareholders (“AGM”) on Friday, June 30, 2017 at 10:30a.m., Beijing time, at the conference room of the Company, 8/F, Building 8, Nord Centre, East Qiche Bowuguan Road, Fengtai District, Beijing 100160, the People’s Republic of China. The shareholder record date is May 26, 2017.

A notice of the AGM describing the matters to be considered during the meeting is available via the AGM link in the Events & Presentations section at the Company's investor relations website at http://investors.jasolar.com.

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 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Hanoi, Vietnam.

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

Contact:
The Blueshirt Group
Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JA Solar Holdings Co., Ltd.

Zhabei, CHINA

Contact:
The Blueshirt Group
Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, May 26, 2017 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or "JA"), one of the world's largest manufacturers of high-performance solar power products, today announced that it will hold its annual general meeting of shareholders (“AGM”) on Friday, June 30, 2017 at 10:30a.m., Beijing time, at the conference room of the Company, 8/F, Building 8, Nord Centre, East Qiche Bowuguan Road, Fengtai District, Beijing 100160, the People’s Republic of China. The shareholder record date is May 26, 2017.

A notice of the AGM describing the matters to be considered during the meeting is available via the AGM link in the Events & Presentations section at the Company's investor relations website at http://investors.jasolar.com.

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 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Hanoi, Vietnam.

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

Contact:
The Blueshirt Group
Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JA Solar Holdings Co., Ltd.

Zhabei, CHINA

Contact:
The Blueshirt Group
Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JA Solar Holdings Co., Ltd. Logo

LOGO URL | Copy the link below

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ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, May 24, 2017 (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, 2017.

First Quarter 2017 Highlights

  • Total shipments were 1,392.7 megawatts (“MW”), consisting of 1,325.1 MW of modules and 50.2 MW of cells to external customers, and 17.4 MW of modules to the Company’s downstream projects.  External shipments were up 32.5% y/y and down 2.6% sequentially
     
  • Shipments of modules were 1,325.1 MW, an increase of 44.1% y/y and a decrease of 2.1% sequentially
     
  • Shipments of cells were 50.2 MW, a decrease of 57.8% y/y and 14.8% sequentially
     
  • Net revenue was RMB 3.7 billion ($536.4 million), an increase of 6.4% y/y and a decrease of 7.5% sequentially
     
  • Gross margin was 11.7%, a decrease of 490 basis points y/y and 120 basis points sequentially
     
  • Operating profit was RMB 80.0 million ($11.6 million), compared to RMB 223.3 million ($32.4 million) in the first quarter of 2016, and RMB 370.5 million ($53.8 million) in the fourth quarter of 2016
     
  • Net income was RMB 8.1 million ($1.2 million), compared to RMB 158.0 million ($23.0 million) in the first quarter of 2016, and RMB 353.4 million ($51.3 million) in the fourth quarter of 2016
     
  • Earnings per diluted ADS were RMB 0.17 or $0.03, compared to RMB 2.74 or $0.40 in the first quarter of 2016, and RMB 6.80 or $0.99 in the fourth quarter of 2016
     
  • Cash and cash equivalents were RMB 2.3 billion ($332.1 million), a decrease of RMB 283.4 million ($41.2 million) during the quarter
     
  • Non-GAAP earnings1 per diluted ADS were RMB 0.17 or $0.03, compared to RMB 2.33 or $0.34 in the first quarter of 2016, and RMB 6.80 or $0.99 in the fourth quarter of 2016

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, “Our operating results were in line with our expectations. We delivered high-single-digit year over year revenue growth on robust external shipments, driven by strength in the Asia Pacific markets. We expect solid demand from China in the second quarter, driven by accelerated activity ahead of subsidy reductions.  Despite this near-term strength, we are cautious on the business outlook for the second half of 2017, given limited visibility into customer demand, as well as the competitive pricing environment across multiple geographies.”

Mr. Jin continued, “We remain committed to streamlining our operations in order to optimize efficiencies, and are focused on executing our business strategy to provide our customers with high-quality products.  We continue to believe that our geographic exposure, prudent cost control and flexible business model will enable us to navigate through industry cycles. As market conditions improve, we will be positioned for sustainable long-term growth.”

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

Total shipments were 1,392.7 MW, in line with our previously announced guidance. External shipments of 1,375.3 MW increased 32.5% year over year and decreased 2.6% sequentially.

External shipments breakdown by product (MW)

  2016Q1 2016Q4 2017Q1 QoQ% YoY%
Modules and module tolling 919.4 1,353.0 1,325.1 -2.1 % 44.1 %
Cells and cell tolling 118.9 58.9 50.2 -14.8 % -57.8 %
Total 1,038.3 1,411.9 1,375.3 -2.6 % 32.5 %

External shipments breakdown by region (percentage)

  2016Q1 2016Q4 2017Q1 QoQ(pp) YoY(pp)
China 59.6 % 58.0 % 39.7 % -18.3pp -19.9pp
APAC ex-China 26.7 % 25.2 % 44.2 % 19.0pp 17.5pp
Europe 5.6 % 3.3 % 5.5 % 2.2pp -0.1pp
North America 4.5 % 7.4 % 8.1 % 0.7pp 3.6pp
South America 2.8 % 5.6 % 0.1 % -5.5pp -2.7pp
Others 0.8 % 0.5 % 2.4 % 1.9pp 1.6pp

Net revenue was RMB 3.7 billion ($536.4 million), an increase of 6.4% y/y and a decrease of 7.5% sequentially.

Gross profit of RMB 433.3 million ($63.0 million) decreased 24.7% y/y and 15.9% sequentially.  Gross margin was 11.7%, which compares to 16.6% in the year-ago quarter, and 12.9% in the fourth quarter of 2016. The decrease in gross margin was primarily due to a decline of average selling price of solar modules in the first quarter of 2017.

Total operating expenses of RMB 353.3 million ($51.3 million) were 9.6% of revenue.  This compares to operating expenses of 10.1% of revenue in the year-ago quarter, and 3.6% of revenue in the fourth quarter of 2016. Included in operating expenses in the fourth quarter of 2016 were a one-time reversal of RMB 348.3 million ($50.6 million) of previously recorded expenses due to the resolution of the Company’s dispute with Hemlock Semiconductor Pte. Ltd, and a one-time charge of RMB 99.6 million ($14.5 million) resulted from the termination of business relationship with one of the Company’s business partners.

Operating profit was RMB 80.0 million ($11.6 million), compared to RMB 223.3 million ($32.4 million) in the year-ago quarter, and RMB 370.5 million ($53.8 million) in the fourth quarter of 2016.  Operating margin was 2.2%, compared with 6.4% in the prior year period and 9.3% in the previous quarter.

Interest expense was RMB 83.3 million ($12.1 million), compared to RMB 67.3 million ($9.8 million) in the year-ago quarter, and RMB 72.9 million ($10.6 million) in the fourth quarter of 2016.

The change in fair value of warrant derivatives was nil, compared with positive RMB 23.4 million ($3.4 million) in the year-ago quarter, and nil in the fourth quarter of 2016. The warrants were issued on August 16, 2013 in conjunction with the Company’s $96 million registered direct offering, and expired on August 16, 2016.

Earnings per diluted ADS were RMB 0.17 or $0.03, compared to earnings per diluted ADS of RMB 2.74 or $0.40 in the year-ago quarter, and earnings per diluted ADS of RMB 6.80 or $0.99 in the fourth quarter of 2016.

Liquidity

As of March 31, 2017, the Company had cash and cash equivalents of RMB 2.3 billion ($332.1 million), and total working capital of RMB 0.8 billion ($118.0 million).  Total short-term borrowings were RMB 3.2 billion ($467.1 million). Total long-term borrowings were RMB 2.9 billion ($425.4 million), of which RMB 870.9 million ($126.5 million) were due in one year.

Business Outlook

For the second quarter of 2017, the Company expects total cell and module shipments to be in the range of 1,550 to 1,650 MW.  Nearly all will be external shipments.

Investor Conference Call / Webcast Details

JA Solar's management will host an earnings conference call on May 24, 2017 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. China Time).

Dial-in details for the earnings conference call are as follows:

  Phone Number Toll-Free Number
United States +1 8456750437 +1 8665194004
Hong Kong +852 30186771 +852 800906601
Mainland China +86 8008190121
+86 4006208038
 
Other International +65 67135090  

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is 21961068.

A replay of the conference call may be accessed by phone at the following numbers until June 1, 2017.  To access the replay, please reference the conference ID 21961068.

  Phone Number Toll-Free Number
United States +1 6462543697 +1 8554525696
Hong Kong +852 30512780 +852 800963117
Mainland China +86 8008700206
+86 4006322162
 
Other International +61 281990299  

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 March 31, 2017, which was RMB 6.8832 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 March 31, 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 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Hanoi, 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  
  Mar. 31, 2016 Dec. 31, 2016 Mar. 31, 2017 Mar. 31, 2017  
  RMB'000 RMB'000 RMB'000 USD'000  
           
Net revenues 3,469,714   3,990,642   3,701,133   537,705    
Cost of sales (2,894,352 ) (3,475,213 ) (3,264,362 ) (474,251 )  
Gross profit 575,362   515,429   436,771   63,454    
Selling, general and administrative expenses (312,475 ) (99,969 ) (327,504 ) (47,580 )  
Research and development expenses (39,599 ) (44,937 ) (40,460 ) (5,878 )  
Total operating expenses (352,074 ) (144,906 ) (367,964 ) (53,458 )  
Income from operations 223,288   370,523   68,807   9,996    
Interest expense (67,273 ) (72,879 ) (76,269 ) (11,081 )  
Change in fair value of warrant derivatives 23,447     -      -      -     
Other income, net 16,281   95,596   19,411   2,820    
Income before income taxes 195,743   393,240   11,949   1,735    
Income tax expense (37,769 ) (39,814 ) (1,792 ) (260 )  
Net income 157,974   353,426   10,157   1,475    
Less: income attributable to noncontrolling interest 1,317   34,922     -      -     
Net income attributable to JA Solar Holdings 156,657   318,504   10,157   1,475    
           
Net income per share attributable to ordinary shareholders:          
Basic 0.55   1.36   0.04   0.01    
Diluted 0.55   1.36   0.04   0.01    
           
Weighted average number of shares outstanding:          
Basic  234,290,842   234,290,842   234,290,842   234,290,842    
Diluted 234,521,962   234,305,887   234,300,567   234,300,567    
           
Comprehensive income          
Net income 157,974   353,426   10,157   1,475    
Foreign currency translation adjustments, net of tax (140 ) (18,532 ) 1,136   165    
Other comprehensive loss (140 ) (18,532 ) 1,136   165    
Comprehensive income 157,834   334,894   11,293   1,640    
Income attributable to noncontrolling interest 1,317   34,922     -      -     
Comprehensive income attributable to JA Solar Holdings 156,517   299,972   11,293   1,640    
           
NON-GAAP RECONCILIATION          
           
GAAP net income attributable to JA Solar Holdings 156,657   318,504   10,157   1,475    
Change in fair value of warrant derivatives (23,447 )   -      -      -     
Non-GAAP net income attributable to JA Solar Holdings 133,210   318,504   10,157   1,475    
           
Non-GAAP net income per share attributable to ordinary shareholders:          
Basic 0.47   1.36   0.03   0.01    
Diluted 0.47   1.36   0.03   0.01    
           
Non-GAAP weighted average number of shares outstanding:          
Basic 234,290,842   234,290,842   234,290,842   234,290,842    
Diluted 234,521,962   234,305,887   234,300,567   234,300,567    
           
JA Solar Holdings Co., Ltd.
Condensed Consolidated Balance Sheets
(Unaudited)
       
  Dec. 31, Mar. 31,
  2016 2017 2017
  RMB'000 RMB'000 USD'000
   
ASSETS      
Current assets:       
Cash and cash equivalents   2,569,402   2,286,016   332,115
Restricted cash   836,761   756,005   109,833
Accounts receivable    2,753,678   3,131,601   454,963
Notes receivable    563,144   256,065   37,202
Inventories   2,460,488   3,099,716   450,331
Advances to suppliers   282,369   222,388   32,309
Other current assets   799,314   856,812   124,479
Total current assets   10,265,156   10,608,603   1,541,232
Property and equipment, net   5,219,501   5,444,942   791,048
Project asset   2,338,648   2,490,908   361,882
Advances to suppliers   97,429   71,024   10,318
Prepaid land use rights   524,208   533,080   77,447
Long-term investment   69,022   69,022   10,028
Other long term assets   517,292   483,523   70,247
Total assets   19,031,256   19,701,102   2,862,202
LIABILITIES AND SHAREHOLDERS’ EQUITY      
Current liabilities:      
Short-term borrowings    2,912,866   3,214,871   467,061
Accounts payable    2,635,525   2,909,599   422,710
Advances from customers   610,718   940,865   136,690
Current portion of long term borrowings   525,256   870,886   126,523
Accrued and other liabilities    1,966,475   1,638,687   238,071
Total current liabilities   8,650,840   9,574,908   1,391,055
Long-term borrowings    2,701,438   2,057,336   298,892
Other long term liabilities   1,217,648   1,596,110   231,885
Total liabilities   12,569,926   13,228,354   1,921,832
Total JA Solar Holdings shareholders' equity   6,461,130   6,472,549   940,340
Noncontrolling interest   200   200   29
Total shareholders' equity   6,461,330   6,472,749   940,369
Total liabilities and shareholders’ equity   19,031,256   19,701,103   2,862,201
Contact:

The Blueshirt Group

Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Read more: JA Solar Announces First Quarter 2017 Results

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ET | Source: RGS Energy

DENVER, May 24, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), a residential and small business commercial solar company since 1978, has engaged Mobomo to develop a new mobile software suite designed to create a better and more engaging customer experience.

Mobomo’s innovative product design and engineering is expected to seamlessly integrate mobile phone applications and RGS’ existing database, along with additional digital applications into a new RGS Energy customer portal. Mobomo has already prepared its project plan and expects the project to be completed in approximately four months.

“Our engagement with Mobomo will enable us to design and develop a robust mobile application with a more dynamic customer interface, and thereby create a better, more engaging end-to-end customer experience,” said Dan Coffey, RGS Energy’s director of information technology. “We will integrate the app into our existing database, and develop new analytical tools to identify and serve our customers better. We expect the new customer portal will help our sales and construction teams to be more responsive and ultimately deliver greater customer satisfaction.”

Barg Upender, Mobomo’s chairman of the board, commented: “We were engaged by RGS Energy to turn their bold vision into reality. The timing couldn’t be better, as we see great opportunity in the marketplace for RGS Energy’s turnkey solar solution. We will use Agile Development throughout the process so we can meet RGS Energy’s launch date.”

Mobomo has a 10-year history of creating innovative solutions which have won numerous awards as well as mentions by major media outlets. Some of their most recent awards include: 2017 People’s Voice Webby Award for NASA website design, 2017 MUSE Creative Design Award and Best Places to Work 2017. 

“Our number one goal is profitable top-line revenue growth, so we believe improving our customer experience will shorten our sales and installation cycles, and advance us toward this goal,” commented Seth Wiggins, RGS Energy’s vice president of sales and marketing. “Mobomo has an award-winning track record of helping organizations expand their existing web and mobile suite.”

About Mobomo®
Mobomo is a premier provider of web and mobile development services to commercial businesses, government agencies, and non‐profit organizations. Mobomo combines technology expertise with disciplines in digital strategy, interactive marketing, and branding to create innovative applications and websites. From Mars, Inc. and Marriott to the American Heart Association (AHA) and the Government Services Administration (GSA) among numerous other world-class brands, it has amassed deep expertise helping its clients enhance and expand their existing web and mobile suite. Mobomo has launched countless apps and websites across every major vertical market. For more information about Mobomo, visit www.mobomo.com.

About RGS Energy
RGS Energy (NASDAQ:RGSE) is a residential and small commercial solar Company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “expect,” “plan,” “future,” “may,” “will,” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include:  the level of demand for RGS Energy’s solar energy systems; RGS Energy’s ability to successfully complete the software development project described in this press release on a timely basis and integrate the resulting software with RGS Energy’s existing software and business; RGS Energy’s ability to implement its growth strategy and achieve its target level of sales; customer acceptance of, experience with and satisfaction with the new software.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
Read more: RGS Energy Enlists Mobomo to Drive Mobile...

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ET | Source: RGS Energy

DENVER and KAILUA, Hawaii, May 23, 2017 (GLOBE NEWSWIRE) -- Sunetric, a wholly-owned subsidiary of RGS Energy (NASDAQ:RGSE), and Sunnova Energy Corp., a leading residential solar service provider in the U.S., announced today that they have joined forces to offer comprehensive solar solutions with battery storage to residential customers in Hawaii.

“As one of the leading full service renewable energy providers in Hawaii, Sunetric is a perfect partner to introduce our new PowerStack™ service plan to the Aloha State,” said Jordan Frugé, Chief Marketing Officer at Sunnova Energy. “Through their well-established local marketing and sales channels, Sunetric will offer our advanced solar+storage system as one of the most affordable and effective solar power solutions available in Hawaii.”

Customers will benefit from no money down and low monthly lease payments for a solar+storage service plan designed to offer affordable, reliable and clean solar power day and night—while also lowering their utility bill.

PowerStack is backed by Sunnova’s industry-leading warranty that covers everything from the panels to the battery, and even the wires. The comprehensive solutions delivered by Sunetric include complete project management, permitting and installation, in addition to Sunnova’s lifetime monitoring, support and service.

The solution is supported by the customer self-supply (CSS) program mandated by the Hawaii PUC, which enables homeowners to install solar systems that do not export power to the utility grid. By including energy storage with their new solar system, customers benefit from an expedited PUC review and approval process. The CSS program was established to help the state to achieve 100% renewable energy status by 2045.

“Through our partnership with Sunnova, a leading residential solar service provider in the U.S., we can now offer Hawaii residents a very competitive and affordable solar solution that can provide around-the-clock renewable energy,” said Darren Jennings, Vice President of Sunetric. “With PowerStack, going solar is now an even more attractive option for Hawaiians residents looking to lower their energy costs.”

About Sunnova
Sunnova is a different kind of power company, offering rooftop solar service to homeowners in the United States and its territories through our network of local sales and installation partners. Our mission is to change the energy industry by providing the choice of low-cost, worry-free solar power that generates long-term savings for our customers and continued business growth for partners. For more information about PowerStackTM, visit www.sunnova.com/powerstack/. For more information about Sunnova Energy, visit www.sunnova.com, follow @Sunnova_Solar on Twitter, and connect with us on Facebook and LinkedIn. Information on such websites is not incorporated by reference into this press release.

About Sunetric
Sunetric (a wholly-owned subsidiary of RGS Energy) is a full-service renewable energy firm operating throughout Hawaii. It designs and installs photovoltaic systems for homes, businesses, and federal and military organizations. Sunetric provides turnkey solar solutions, from design, construction planning, and customer financing assistance to installation, utility interconnection and warranty. For more information, visit www.sunetric.com. Information on such websites is not incorporated by reference into this press release.

About RGS Energy
RGS Energy (NASDAQ:RGSE) is America’s original solar company, installing more than 25,000 residential and commercial solar power systems since 1978. RGS Energy makes it convenient for customers to save on their energy bill by providing turnkey solar solutions, from system design, construction planning, and customer financing assistance to installation, utility interconnection and warranty.

For more information, go to RGSEnergy.com, or connect with the company at www.facebook.com/rgsenergy or www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566

Denver, Colorado, UNITED STATES

  http://www.rgsenergy.com

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566

RGS Energy Logo

LOGO URL | Copy the link below

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ET | Source: RGS Energy

DENVER, May 24, 2017 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), a residential and small business commercial solar company since 1978, has engaged Mobomo to develop a new mobile software suite designed to create a better and more engaging customer experience.

Mobomo’s innovative product design and engineering is expected to seamlessly integrate mobile phone applications and RGS’ existing database, along with additional digital applications into a new RGS Energy customer portal. Mobomo has already prepared its project plan and expects the project to be completed in approximately four months.

“Our engagement with Mobomo will enable us to design and develop a robust mobile application with a more dynamic customer interface, and thereby create a better, more engaging end-to-end customer experience,” said Dan Coffey, RGS Energy’s director of information technology. “We will integrate the app into our existing database, and develop new analytical tools to identify and serve our customers better. We expect the new customer portal will help our sales and construction teams to be more responsive and ultimately deliver greater customer satisfaction.”

Barg Upender, Mobomo’s chairman of the board, commented: “We were engaged by RGS Energy to turn their bold vision into reality. The timing couldn’t be better, as we see great opportunity in the marketplace for RGS Energy’s turnkey solar solution. We will use Agile Development throughout the process so we can meet RGS Energy’s launch date.”

Mobomo has a 10-year history of creating innovative solutions which have won numerous awards as well as mentions by major media outlets. Some of their most recent awards include: 2017 People’s Voice Webby Award for NASA website design, 2017 MUSE Creative Design Award and Best Places to Work 2017. 

“Our number one goal is profitable top-line revenue growth, so we believe improving our customer experience will shorten our sales and installation cycles, and advance us toward this goal,” commented Seth Wiggins, RGS Energy’s vice president of sales and marketing. “Mobomo has an award-winning track record of helping organizations expand their existing web and mobile suite.”

About Mobomo®
Mobomo is a premier provider of web and mobile development services to commercial businesses, government agencies, and non‐profit organizations. Mobomo combines technology expertise with disciplines in digital strategy, interactive marketing, and branding to create innovative applications and websites. From Mars, Inc. and Marriott to the American Heart Association (AHA) and the Government Services Administration (GSA) among numerous other world-class brands, it has amassed deep expertise helping its clients enhance and expand their existing web and mobile suite. Mobomo has launched countless apps and websites across every major vertical market. For more information about Mobomo, visit www.mobomo.com.

About RGS Energy
RGS Energy (NASDAQ:RGSE) is a residential and small commercial solar Company since 1978 which has installed more than 25,000 solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing turnkey solar solutions - from system design, construction planning, customer financing assistance, installation, to interconnection and warranty.

For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “expect,” “plan,” “future,” “may,” “will,” and similar expressions as they relate to us are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include:  the level of demand for RGS Energy’s solar energy systems; RGS Energy’s ability to successfully complete the software development project described in this press release on a timely basis and integrate the resulting software with RGS Energy’s existing software and business; RGS Energy’s ability to implement its growth strategy and achieve its target level of sales; customer acceptance of, experience with and satisfaction with the new software.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
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ET | Source: RGS Energy

DENVER and KAILUA, Hawaii, May 23, 2017 (GLOBE NEWSWIRE) -- Sunetric, a wholly-owned subsidiary of RGS Energy (NASDAQ:RGSE), and Sunnova Energy Corp., a leading residential solar service provider in the U.S., announced today that they have joined forces to offer comprehensive solar solutions with battery storage to residential customers in Hawaii.

“As one of the leading full service renewable energy providers in Hawaii, Sunetric is a perfect partner to introduce our new PowerStack™ service plan to the Aloha State,” said Jordan Frugé, Chief Marketing Officer at Sunnova Energy. “Through their well-established local marketing and sales channels, Sunetric will offer our advanced solar+storage system as one of the most affordable and effective solar power solutions available in Hawaii.”

Customers will benefit from no money down and low monthly lease payments for a solar+storage service plan designed to offer affordable, reliable and clean solar power day and night—while also lowering their utility bill.

PowerStack is backed by Sunnova’s industry-leading warranty that covers everything from the panels to the battery, and even the wires. The comprehensive solutions delivered by Sunetric include complete project management, permitting and installation, in addition to Sunnova’s lifetime monitoring, support and service.

The solution is supported by the customer self-supply (CSS) program mandated by the Hawaii PUC, which enables homeowners to install solar systems that do not export power to the utility grid. By including energy storage with their new solar system, customers benefit from an expedited PUC review and approval process. The CSS program was established to help the state to achieve 100% renewable energy status by 2045.

“Through our partnership with Sunnova, a leading residential solar service provider in the U.S., we can now offer Hawaii residents a very competitive and affordable solar solution that can provide around-the-clock renewable energy,” said Darren Jennings, Vice President of Sunetric. “With PowerStack, going solar is now an even more attractive option for Hawaiians residents looking to lower their energy costs.”

About Sunnova
Sunnova is a different kind of power company, offering rooftop solar service to homeowners in the United States and its territories through our network of local sales and installation partners. Our mission is to change the energy industry by providing the choice of low-cost, worry-free solar power that generates long-term savings for our customers and continued business growth for partners. For more information about PowerStackTM, visit www.sunnova.com/powerstack/. For more information about Sunnova Energy, visit www.sunnova.com, follow @Sunnova_Solar on Twitter, and connect with us on Facebook and LinkedIn. Information on such websites is not incorporated by reference into this press release.

About Sunetric
Sunetric (a wholly-owned subsidiary of RGS Energy) is a full-service renewable energy firm operating throughout Hawaii. It designs and installs photovoltaic systems for homes, businesses, and federal and military organizations. Sunetric provides turnkey solar solutions, from design, construction planning, and customer financing assistance to installation, utility interconnection and warranty. For more information, visit www.sunetric.com. Information on such websites is not incorporated by reference into this press release.

About RGS Energy
RGS Energy (NASDAQ:RGSE) is America’s original solar company, installing more than 25,000 residential and commercial solar power systems since 1978. RGS Energy makes it convenient for customers to save on their energy bill by providing turnkey solar solutions, from system design, construction planning, and customer financing assistance to installation, utility interconnection and warranty.

For more information, go to RGSEnergy.com, or connect with the company at www.facebook.com/rgsenergy or www.twitter.com/rgsenergy. Information on such websites is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566

Denver, Colorado, UNITED STATES

  http://www.rgsenergy.com

Investor Relations Contact
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566

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ET | Source: JA Solar Holdings Co., Ltd.

BEIJING, May 24, 2017 (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, 2017.

First Quarter 2017 Highlights

  • Total shipments were 1,392.7 megawatts (“MW”), consisting of 1,325.1 MW of modules and 50.2 MW of cells to external customers, and 17.4 MW of modules to the Company’s downstream projects.  External shipments were up 32.5% y/y and down 2.6% sequentially
     
  • Shipments of modules were 1,325.1 MW, an increase of 44.1% y/y and a decrease of 2.1% sequentially
     
  • Shipments of cells were 50.2 MW, a decrease of 57.8% y/y and 14.8% sequentially
     
  • Net revenue was RMB 3.7 billion ($536.4 million), an increase of 6.4% y/y and a decrease of 7.5% sequentially
     
  • Gross margin was 11.7%, a decrease of 490 basis points y/y and 120 basis points sequentially
     
  • Operating profit was RMB 80.0 million ($11.6 million), compared to RMB 223.3 million ($32.4 million) in the first quarter of 2016, and RMB 370.5 million ($53.8 million) in the fourth quarter of 2016
     
  • Net income was RMB 8.1 million ($1.2 million), compared to RMB 158.0 million ($23.0 million) in the first quarter of 2016, and RMB 353.4 million ($51.3 million) in the fourth quarter of 2016
     
  • Earnings per diluted ADS were RMB 0.17 or $0.03, compared to RMB 2.74 or $0.40 in the first quarter of 2016, and RMB 6.80 or $0.99 in the fourth quarter of 2016
     
  • Cash and cash equivalents were RMB 2.3 billion ($332.1 million), a decrease of RMB 283.4 million ($41.2 million) during the quarter
     
  • Non-GAAP earnings1 per diluted ADS were RMB 0.17 or $0.03, compared to RMB 2.33 or $0.34 in the first quarter of 2016, and RMB 6.80 or $0.99 in the fourth quarter of 2016

Mr. Baofang Jin, Chairman and CEO of JA Solar, commented, “Our operating results were in line with our expectations. We delivered high-single-digit year over year revenue growth on robust external shipments, driven by strength in the Asia Pacific markets. We expect solid demand from China in the second quarter, driven by accelerated activity ahead of subsidy reductions.  Despite this near-term strength, we are cautious on the business outlook for the second half of 2017, given limited visibility into customer demand, as well as the competitive pricing environment across multiple geographies.”

Mr. Jin continued, “We remain committed to streamlining our operations in order to optimize efficiencies, and are focused on executing our business strategy to provide our customers with high-quality products.  We continue to believe that our geographic exposure, prudent cost control and flexible business model will enable us to navigate through industry cycles. As market conditions improve, we will be positioned for sustainable long-term growth.”

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

Total shipments were 1,392.7 MW, in line with our previously announced guidance. External shipments of 1,375.3 MW increased 32.5% year over year and decreased 2.6% sequentially.

External shipments breakdown by product (MW)

  2016Q1 2016Q4 2017Q1 QoQ% YoY%
Modules and module tolling 919.4 1,353.0 1,325.1 -2.1 % 44.1 %
Cells and cell tolling 118.9 58.9 50.2 -14.8 % -57.8 %
Total 1,038.3 1,411.9 1,375.3 -2.6 % 32.5 %

External shipments breakdown by region (percentage)

  2016Q1 2016Q4 2017Q1 QoQ(pp) YoY(pp)
China 59.6 % 58.0 % 39.7 % -18.3pp -19.9pp
APAC ex-China 26.7 % 25.2 % 44.2 % 19.0pp 17.5pp
Europe 5.6 % 3.3 % 5.5 % 2.2pp -0.1pp
North America 4.5 % 7.4 % 8.1 % 0.7pp 3.6pp
South America 2.8 % 5.6 % 0.1 % -5.5pp -2.7pp
Others 0.8 % 0.5 % 2.4 % 1.9pp 1.6pp

Net revenue was RMB 3.7 billion ($536.4 million), an increase of 6.4% y/y and a decrease of 7.5% sequentially.

Gross profit of RMB 433.3 million ($63.0 million) decreased 24.7% y/y and 15.9% sequentially.  Gross margin was 11.7%, which compares to 16.6% in the year-ago quarter, and 12.9% in the fourth quarter of 2016. The decrease in gross margin was primarily due to a decline of average selling price of solar modules in the first quarter of 2017.

Total operating expenses of RMB 353.3 million ($51.3 million) were 9.6% of revenue.  This compares to operating expenses of 10.1% of revenue in the year-ago quarter, and 3.6% of revenue in the fourth quarter of 2016. Included in operating expenses in the fourth quarter of 2016 were a one-time reversal of RMB 348.3 million ($50.6 million) of previously recorded expenses due to the resolution of the Company’s dispute with Hemlock Semiconductor Pte. Ltd, and a one-time charge of RMB 99.6 million ($14.5 million) resulted from the termination of business relationship with one of the Company’s business partners.

Operating profit was RMB 80.0 million ($11.6 million), compared to RMB 223.3 million ($32.4 million) in the year-ago quarter, and RMB 370.5 million ($53.8 million) in the fourth quarter of 2016.  Operating margin was 2.2%, compared with 6.4% in the prior year period and 9.3% in the previous quarter.

Interest expense was RMB 83.3 million ($12.1 million), compared to RMB 67.3 million ($9.8 million) in the year-ago quarter, and RMB 72.9 million ($10.6 million) in the fourth quarter of 2016.

The change in fair value of warrant derivatives was nil, compared with positive RMB 23.4 million ($3.4 million) in the year-ago quarter, and nil in the fourth quarter of 2016. The warrants were issued on August 16, 2013 in conjunction with the Company’s $96 million registered direct offering, and expired on August 16, 2016.

Earnings per diluted ADS were RMB 0.17 or $0.03, compared to earnings per diluted ADS of RMB 2.74 or $0.40 in the year-ago quarter, and earnings per diluted ADS of RMB 6.80 or $0.99 in the fourth quarter of 2016.

Liquidity

As of March 31, 2017, the Company had cash and cash equivalents of RMB 2.3 billion ($332.1 million), and total working capital of RMB 0.8 billion ($118.0 million).  Total short-term borrowings were RMB 3.2 billion ($467.1 million). Total long-term borrowings were RMB 2.9 billion ($425.4 million), of which RMB 870.9 million ($126.5 million) were due in one year.

Business Outlook

For the second quarter of 2017, the Company expects total cell and module shipments to be in the range of 1,550 to 1,650 MW.  Nearly all will be external shipments.

Investor Conference Call / Webcast Details

JA Solar's management will host an earnings conference call on May 24, 2017 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. China Time).

Dial-in details for the earnings conference call are as follows:

  Phone Number Toll-Free Number
United States +1 8456750437 +1 8665194004
Hong Kong +852 30186771 +852 800906601
Mainland China +86 8008190121
+86 4006208038
 
Other International +65 67135090  

Please dial in 10 minutes before the call is scheduled to begin and provide the passcode to join the call. The passcode is 21961068.

A replay of the conference call may be accessed by phone at the following numbers until June 1, 2017.  To access the replay, please reference the conference ID 21961068.

  Phone Number Toll-Free Number
United States +1 6462543697 +1 8554525696
Hong Kong +852 30512780 +852 800963117
Mainland China +86 8008700206
+86 4006322162
 
Other International +61 281990299  

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 March 31, 2017, which was RMB 6.8832 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 March 31, 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 5.2 GW of solar power products in 2016. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as Penang, Malaysia and Hanoi, 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  
  Mar. 31, 2016 Dec. 31, 2016 Mar. 31, 2017 Mar. 31, 2017  
  RMB'000 RMB'000 RMB'000 USD'000  
           
Net revenues 3,469,714   3,990,642   3,701,133   537,705    
Cost of sales (2,894,352 ) (3,475,213 ) (3,264,362 ) (474,251 )  
Gross profit 575,362   515,429   436,771   63,454    
Selling, general and administrative expenses (312,475 ) (99,969 ) (327,504 ) (47,580 )  
Research and development expenses (39,599 ) (44,937 ) (40,460 ) (5,878 )  
Total operating expenses (352,074 ) (144,906 ) (367,964 ) (53,458 )  
Income from operations 223,288   370,523   68,807   9,996    
Interest expense (67,273 ) (72,879 ) (76,269 ) (11,081 )  
Change in fair value of warrant derivatives 23,447     -      -      -     
Other income, net 16,281   95,596   19,411   2,820    
Income before income taxes 195,743   393,240   11,949   1,735    
Income tax expense (37,769 ) (39,814 ) (1,792 ) (260 )  
Net income 157,974   353,426   10,157   1,475    
Less: income attributable to noncontrolling interest 1,317   34,922     -      -     
Net income attributable to JA Solar Holdings 156,657   318,504   10,157   1,475    
           
Net income per share attributable to ordinary shareholders:          
Basic 0.55   1.36   0.04   0.01    
Diluted 0.55   1.36   0.04   0.01    
           
Weighted average number of shares outstanding:          
Basic  234,290,842   234,290,842   234,290,842   234,290,842    
Diluted 234,521,962   234,305,887   234,300,567   234,300,567    
           
Comprehensive income          
Net income 157,974   353,426   10,157   1,475    
Foreign currency translation adjustments, net of tax (140 ) (18,532 ) 1,136   165    
Other comprehensive loss (140 ) (18,532 ) 1,136   165    
Comprehensive income 157,834   334,894   11,293   1,640    
Income attributable to noncontrolling interest 1,317   34,922     -      -     
Comprehensive income attributable to JA Solar Holdings 156,517   299,972   11,293   1,640    
           
NON-GAAP RECONCILIATION          
           
GAAP net income attributable to JA Solar Holdings 156,657   318,504   10,157   1,475    
Change in fair value of warrant derivatives (23,447 )   -      -      -     
Non-GAAP net income attributable to JA Solar Holdings 133,210   318,504   10,157   1,475    
           
Non-GAAP net income per share attributable to ordinary shareholders:          
Basic 0.47   1.36   0.03   0.01    
Diluted 0.47   1.36   0.03   0.01    
           
Non-GAAP weighted average number of shares outstanding:          
Basic 234,290,842   234,290,842   234,290,842   234,290,842    
Diluted 234,521,962   234,305,887   234,300,567   234,300,567    
           
JA Solar Holdings Co., Ltd.
Condensed Consolidated Balance Sheets
(Unaudited)
       
  Dec. 31, Mar. 31,
  2016 2017 2017
  RMB'000 RMB'000 USD'000
   
ASSETS      
Current assets:       
Cash and cash equivalents   2,569,402   2,286,016   332,115
Restricted cash   836,761   756,005   109,833
Accounts receivable    2,753,678   3,131,601   454,963
Notes receivable    563,144   256,065   37,202
Inventories   2,460,488   3,099,716   450,331
Advances to suppliers   282,369   222,388   32,309
Other current assets   799,314   856,812   124,479
Total current assets   10,265,156   10,608,603   1,541,232
Property and equipment, net   5,219,501   5,444,942   791,048
Project asset   2,338,648   2,490,908   361,882
Advances to suppliers   97,429   71,024   10,318
Prepaid land use rights   524,208   533,080   77,447
Long-term investment   69,022   69,022   10,028
Other long term assets   517,292   483,523   70,247
Total assets   19,031,256   19,701,102   2,862,202
LIABILITIES AND SHAREHOLDERS’ EQUITY      
Current liabilities:      
Short-term borrowings    2,912,866   3,214,871   467,061
Accounts payable    2,635,525   2,909,599   422,710
Advances from customers   610,718   940,865   136,690
Current portion of long term borrowings   525,256   870,886   126,523
Accrued and other liabilities    1,966,475   1,638,687   238,071
Total current liabilities   8,650,840   9,574,908   1,391,055
Long-term borrowings    2,701,438   2,057,336   298,892
Other long term liabilities   1,217,648   1,596,110   231,885
Total liabilities   12,569,926   13,228,354   1,921,832
Total JA Solar Holdings shareholders' equity   6,461,130   6,472,549   940,340
Noncontrolling interest   200   200   29
Total shareholders' equity   6,461,330   6,472,749   940,369
Total liabilities and shareholders’ equity   19,031,256   19,701,103   2,862,201
Contact:

The Blueshirt Group

Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Read more: JA Solar Announces First Quarter 2017 Results

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