JA Solar: Net Profit in 2020 Increased by 20.34% Year-on-Year; Module Shipments Reached 15.88GW

PVTIME - On March 29, JA Solar (hereinafter referred to as the “Company”) released its annual report for 2020. According to the report, the company achieved an operating income of 25,846,520,900 yuan, an increase of 22.17% over the same period of the previous year. Net profit attributable to shareholders was 1,506,583,600 yuan, an increase of 20.34% year-on-year. Total assets of the company at the end of the reporting period were 37,297,473,400 yuan, and net assets attributable to shareholders were 1,465,617,400 yuan.

During the reporting period, JA Solar's module shipments reached 15.88GW (including shipments through the sale of power stations), of which overseas module shipments accounted for 68.3%.

As of the end of 2020, JA Solar's module production capacity reached 23GW. According to the company’s progress report on projects under construction, the newly-built high-efficiency Qujing silicon wafer, Ningjin solar cell, and Yiwu Yangzhou and Vietnam module production facilities have all been successively put into production. It is expected that the company’s module production capacity will exceed 40GW by the end of 2021, and its silicon wafer and cell production capacity will continue to be maintained at about 80% of its module production capacity.

The company's production scale in silicon wafers, cells, modules, and other links is at the forefront of the industry. The popularization of automation and intelligent equipment and the promotion of centralized control management systems have greatly improved the cost-effectiveness of products and further reduced labor and production costs. Furthermore, the company's scale advantage has further optimized its resource allocation and management capabilities, which has been conducive to strengthening the company's position in the photovoltaic industry market as it aims to achieve a shipment target of 25-30GW (including self-use) in 2021.