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JA Solar Posts Big Loss; Chinese Solar Stocks Look Dim
Last edited Mon Mar 25, 2013, 05:45 PM - Edit history (1)
It’s a bad day for U.S.-listed shares of Chinese solar companies. Stocks tumbled throughout the day after solar panel maker JA Solar (JASO) posted a bigger-than-expected loss for the fourth quarter and shuttered production capacity. Shares of JA Solar sank 12% to $3.66 in afternoon market action. Meanwhile, Yingli Green Energy (YGE) tumbled 11% to $1.94. Trina Solar (TSL) fell 12.4% to 3.40 a share, and LDK Solar (LDK) sank 4% to $1.17 a share.
...snip...
JA Solar says it net loss widened to $102.4 million, or $2.65 per American Depositary Share (ADS), from $68.3 million, or $0.39 per ADS, a year earlier, marking the seventh straight quarterly loss. Revenue fell 13% to $268.1 million.
Like the rest of the industry, JA Solar is struggling with a steep decline in panel prices at a time when China’s support for the industry is waning. Over the past two years, profits have been elusive for solar product makers, forcing many to close plants
China and emerging markets like Japan, where the government is trying to phase out nuclear power, accounted for more than two-thirds of JA Solar’s fourth-quarter shipments. Europe, meanwhile, made up about 16%.
http://blogs.barrons.com/emergingmarketsdaily/2013/03/25/ja-solar-poists-big-loss-chinese-solar-stocks-look-dim/
...snip...
JA Solar says it net loss widened to $102.4 million, or $2.65 per American Depositary Share (ADS), from $68.3 million, or $0.39 per ADS, a year earlier, marking the seventh straight quarterly loss. Revenue fell 13% to $268.1 million.
Like the rest of the industry, JA Solar is struggling with a steep decline in panel prices at a time when China’s support for the industry is waning. Over the past two years, profits have been elusive for solar product makers, forcing many to close plants
China and emerging markets like Japan, where the government is trying to phase out nuclear power, accounted for more than two-thirds of JA Solar’s fourth-quarter shipments. Europe, meanwhile, made up about 16%.
http://blogs.barrons.com/emergingmarketsdaily/2013/03/25/ja-solar-poists-big-loss-chinese-solar-stocks-look-dim/
