HEBEI, China, Dec 10, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- JA Solar Holdings Co., Ltd., (Nasdaq: JASO) a manufacturer of high-performance solar cells, today updated its Nov. 12, 2008 fourth quarter financial guidance.
The company now expects revenue in the fourth quarter to be approximately RMB 843 million or $124 million compared with earlier guidance of RMB 1.3 billion or $191.5 million to RMB 1.5 billion or $220.9 million.
Guidance for gross margin to be in the range of 5 to 7 percent and non- GAAP earnings per ADS to be approximately break-even remains the same.
JA Solar's target for total production output has been updated to be in the range of 250-260MW for 2008, from its earlier guidance of 310MW for 2008. The nameplate annual production guidance remains at 600MW for the end of this year.
"Over the past few weeks, we have seen a dramatic slowdown in orders, which we believe is related to macro economic conditions," said Samuel Yang, chief executive officer. "We remain positive about JA Solar's overall competitive position, and continue to expect profitable growth in 2009."
About JA Solar Holdings Co., Ltd.
Based in Hebei, JA Solar Holdings Co., Ltd. is a manufacturer of high- performance solar cells. The company sells its products to solar module manufacturers who assemble and integrate its solar cells into modules and systems that convert sunlight into electricity. For more information, please visit http://www.jasolar.com.
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 "will," "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 our registration statement on Form F-1 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.
SOURCE JA Solar Holdings Co., Ltd.