JA Solar's PV module deliveries enhanced over 54% in 2020

Mar 31, 2021 07:20 AM ET
  • ' Solar Module Super Organization' (SMSL) member JA Solar has reported PV module deliveries of 15.88 GW in 2020, up from 10.26 GW in 2019, a 54.8% boost year-on-year, establishing brand-new records for complete deliveries and delivery development.
JA Solar's PV module deliveries enhanced over 54% in 2020
Image: pv-tech.org

The shipment numbers were practically 1GW higher than some marketing research companies had anticipated. JA Solar said that the 15.88 GW total shipments had included around shipments of around 500MW to its in-house downstream project organization in China, although this is not a significant activity for the company.

The SMSL firm reported overseas shipments made up 68.3% (10.84 GW) of complete deliveries in 2020. Since completion of 2020, the company stated it had a module nameplate production capability of 23GW.

According to PV InfoLink's stats, JA Solar's module deliveries would rate 3rd on the planet in 2020. Nonetheless, LONGi Group and JinkoSolar have yet to formally reveal full-year financial results Trina Solar, ranked fourth, might yet close the gap on JA Solar when full-year outcomes are launched.

Financial results

JA Solar reported full-year 2020 profits (net income) of approximately RMB25.8 billion (US$ 3.93 billion), up 22.17% from the previous year. This was a new high for the firm.

The maker reported net revenue attributable to shareholders of approximately RMB1.5 billion (US$ 229 million), up 20.34% from 2019.

However, although 4th quarter 2020 profits established a brand-new quarterly record of US$ 1.39 billion, net revenue took a substantial hit coming in at around US$ 32.75 million, below around US$ 89.88 million in the previous quarter, the highpoint of quarterly figures.

Also JA Solar's first quarter internet revenue, despite being impacted by COVID-19, was greater at US$ 43.49 million.

Although the firm did not specifically detail in its annual report why net revenue in the fourth quarter of 2020 had decreased 63.5% from the previous quarter, JA Solar told PV Tech that there were a variety of aspects at play during the quarter.

These elements included a substantial rise in acquiring prices of polysilicon, PV movies (encapsulants & backsheets) as well as solar level glass.

But JA Solar additionally revealed asset disability charges in 2020 of about RMB169.1 million (US$ 25.74 million). These pertaining to the stipulation for uncollectable loans of accounts receivable, various other receivables, agreement properties, some problems of construction projects in progress as well as repaired properties.

The key element might be the considerable growth in PV module inventory levels at completion of the reporting duration. JA Solar's stock had actually enhanced by 65.06%, contrasted to the prior year duration. This was credited to the overall growth of its service in 2020 and also the execution of significant sales agreements signed by the business in 2020 for deliveries in 2021.

The company had reported that the complete sales quantity of the top five consumers in 2020 had actually gotten to over RMB 4.61 billion (US$ 701 million), corresponding to 17.87% of overall annual sales.

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