PVTIME – JA Solar issued an announcement stating that its founder and chairman, Jin Baofang, has been detained in Pingdu City by local government officials.
In the statement, JA Solar said its chairman and founder has been detained by the Pingdu Municipal Supervision Committee and is being investigated in accordance with the “Supervision Law of the People’s Republic of China”. Furthermore, JA Solar said that it has not been able to determine whether the cause for investigation is related to company matters, and will continue to pay attention and disclose follow-up information in a timely manner according to relevant regulations and that investors are advised to pay attention to investment risks.
JA Solar emphasized that the company has a sound governance structure and internal control mechanisms and the investigation will not have a significant impact on the company’s daily production and operation activities. During the investigation, the company’s senior management team will be in charge of the company’s daily operation. Currently, the production and operation of the company and its subsidiaries remain normal, and various businesses are progressing steadily.