Provides Updated Sales Activity and Confirms 2008 Guidance
HEBEI, China, Oct 1, 2008 (GlobeNewswire via COMTEX News Network) -- JA Solar Holdings Co., Ltd. ("JA Solar") (Nasdaq:JASO) today announced that Samuel Yang, Chief Executive Officer, will participate in the Solar Power International Conference in San Diego scheduled for October 13 to 16 at the San Diego Convention center.
The Company said that average selling prices (ASPs) for 2009 are in line with its previously indicated range of an 8% to 10% year-over-year decline on an RMB basis. Contracts signed to date for 2009 represent approximately 50% of the Company's planned 2009 output of 700 MW.
The Company also reconfirmed its previously stated financial guidance for 2008 and 2009, with 2008 revenues for the year in the range of RMB 7.22 billion (US$1.05billion) to RMB 8.02 billion (US$1.17 billion) and 2009 revenues for the year in the range of RMB 13.6 billion (US$2.0 billion) to RMB 15.0 billion (US$2.2 billion). The translation of RMB to US dollars is based on the translation rate used for the second quarter of 2008. Gross margin for 2008 and 2009 is expected to remain in excess of 20%.
The Company said that its strategy is to reserve a significant portion of its remaining 2009 projected output for various potential strategic partners in Europe and the U.S. The Company remains cautiously optimistic about the potential for increasing its 2009 projected output beyond 700 MW to accommodate emerging strategic alliance opportunities.
About JA Solar Holdings Co., Ltd.
Based in Hebei, China, JA Solar Holdings Co., Ltd. is an emerging and fast-growing 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.
Safe Harbor Statement
This press release contains forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. JA Solar, Inc. (the "company") cautions you that any statements contained in this press release that are not strictly historical statements constitute forward-looking statements. These statements are neither promises nor guarantees, and involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements, including risks associated with the company's ability to successfully manufacture and sell its products; uncertainties related to government regulations, subsidies and incentives; risks from various economic factors such fluctuations in currency exchange rates given the company's Euro-denominated sales contracts and other risks and uncertainties identified in the company's filings with the Securities and Exchange Commission. The company disclaims any obligation to publicly update or revise any such statements to reflect any change in company expectations, or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.
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