JA Solar Expects Net Profit for the First Three Quarters of 2020 to Increase by as Much as 91% to 1.33 Billion Yuan

PVTIME – On the evening of October 14, JA Solar’s board of directors released the company’s “Expected Results for the First Three Quarters of 2020”. From January 1 to September 30, 2020, JA Solar expects its net profit to be between 1.2 billion to 1.33 billion yuan, which is an increase of 72.17% to 90.82% over the same period of the previous year. Net profit for the third quarter is expected to be between 499 million to 629 million yuan, which is an increase of 64.91% to 107.87% over the same period last year.

JA Solar believes that the main driver for the increase in performance is the year-on-year increase in shipments of the company’s solar products and the popularization of new technologies which improved the company’s product competitiveness. Additionally, the company also saw an increase in the delivery income of foreign exchange and government subsidies received.