JA Solar In Trouble, As Creator Jin Baofang Apprehended By Chinese Authorities
- JA Solar, the well known 'wafer to module' chinese maker, with a strong global visibility and record with over 50 GW of projects, has introduced that its Chairman as well as Founder, Jin Baofang, has been restrained by Chinese authorities for as yet unspecified charges.
Many such apprehensions in China are normally on corruption charges, with the state under no obligation to share details till it chooses. The company site states that Mr Baofang is likewise the Vice President of the China Photovoltaic Industry Association and also the supervisor of PV Products Association Branch of the China Chamber of Commerce for Import and also Export of Machinery and also Electronic Products.
The relocation is bound to send shockwaves with the type as well as more comprehensive solar industry, as JA solar is a key player among China based companies that have accomplished success worldwide. At 21.2 billion yuan or 3.2 billion USD in 2019, the company likewise has 22,000 workers worldwide. In the meantime, the company claims that it has the structures and also monitoring in position to keep organization customarily going.
The firm, that at the end of 2019, had wafer of 11.5 GW, solar cell capability at 11GW, as well as a module assembly ability had actually gotten to 11GW, was also at the start of an enormous 10 billion Yuan growth programme, that would certainly have taken abilities to around 13.5 GW inwafers, solar cell capability of around 13GW and also module assembly surpassing 16GW. The firm has been a leader in PERC modules, asserting to have provided near to 50 percent of the modules in the initial phase of China's 'leading runner' program.
The company was earlier listed at NASDAQ in the US, where it ultimately delisted from, and also opted for a listing at the Shenzhen stock exchange.
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