Solar products manufacturer
JA Solar Holdings Co. Ltd
) announced its solar products shipment in the fourth quarter
2012 will exceed the prior projection. Shipment for the quarter
is now expected to range between 480 MW and 500 MW, up from the
prior guidance of 380 MW and 420 MW.
JASO's agreement with China Three Gorges New Energy Corporation
(CTGNE) to supply 40 MW of modules almost at the end of 2012
helped the solar module maker to surpass its earlier shipment
Full year solar product shipment will also follow the
quarterly trend. The current expectation is between 1.68 GW and
1.70 GW, higher than the prior forecast of 1.55 GW and 1.65 GW.
CANADIAN SOLAR (CSIQ): Free Stock Analysis
FIRST SOLAR INC (FSLR): Free Stock Analysis
JA SOLAR HOLDGS (JASO): Free Stock Analysis
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Better-than-expected shipment of JA Solar's products in 2012
speaks of its high quality and high performance modules. 2012
shipment volumes were not impacted by the U.S. Department of
Commerce's (DOC) decision to impose antidumping duty of 25.96%
and a countervailing duty of 15.24% on solar cells manufactured
We believe the imposition of these duties will make solar cells
costlier in the U.S. and JASO will have to face steep competition
from U.S. producers. If imposition of duties lowers US demand due
to increase in product prices, JA Solar might have to explore new
markets in Africa, the Middle East and Europe.
Surprisingly JASO made a good start to 2013, by delivering 9.5 MW
of PV modules to the Volkswagen Solar Park, adjacent to the
Volkswagen manufacturing plant at Chattanooga, Tennessee, U.S.
Can JASO sustain its strong shipment volumes through 2013? In the
near term it appears the company will find it difficult to match
2012 levels, as economic uncertainty in Europe lingers and the
tax in U.S. will take a toll on demand.
JA Solar Holdings currently has a Zacks Rank #4 (Sell). We
presently prefer North America based solar operators like
Canadian Solar Inc.
First Solar Inc.
), all presently having a Zacks Rank #3 (Hold).
Based in Shanghai, The People's Republic of China, JA Solar
Holdings Co., Ltd. is a manufacturer of high-performance solar
power products and sells its products worldwide to solar