PR97854

BEIJING, Sept. 15, 2022 /PRNewswire=KYODO JBN/ --

JA Solar has received the highest possible AAA rating on September 13 when PV

Tech released its PV ModuleTech Bankability Rankings for the third quarter of

2022. The list saw JA Solar's leading manufacturing advantages and solid

financial position reflected in key indicators such as shipments, capacity

layout, technology layout, and financial performance. According to the report,

JA Solar is one of the most consistent A-grade suppliers in terms of all the

key metrics for the period 2014 to 2022.

Steady and balanced business development across the globe

On August 26, JA Solar released its 2022 semi-annual report, which shows JA

Solar's overseas shipments accounted for 67% in the first half of 2022. In

recent years, JA Solar has continued to steadily expand its international

reach, with overseas shipments consistently contributing 60% to 70% of total

shipments. JA Solar has now established complete industrial chains at home and

abroad respectively based on its 12 manufacturing bases around the world,

providing strong capacity support for its shipments to global markets.

JA Solar's global market share reached 14% in 2021. Specifically, its share in

established markets continued rising, including Europe at approximately 18% and

China at approximately 19%; in emerging markets, JA Solar's share in 2021

scaled to a record high of 46% in Pakistan, 58% in Malaysia and approximately

40% in Israel. Moreover, it has also found new outlets such as Guyana in South

America, Sierra Leone in Africa, Tahiti in Oceania, and Uzbekistan in Central

Asia, contributing to steady business development across the globe. As

indicated in the PV ModuleTech report, JA Solar will become more competitive in

the US market with the advancement of its global production layout.

A step ahead in technology-driven development

JA Solar has kept increasing its investment in scientific research to meet the

evolving market demand and promote the technological iteration and upgrade of

the industry. As of the first half of 2022, JA Solar had been granted 1,178

patents for independent research and development. The average conversion

efficiency of its mass-produced Percium cells has reached 23.7% and that of

n-type cells has reached 25%.

Particularly, the Percium-cell-based DeepBlue 3.0 modules have attracted

market-wide attention around the globe since the first order was shipped in

October 2020. By the end of June 2022, shipment of the product had amounted to

24GW. And it has been applied in key global projects such as the Beijing

Fengtai Railway Station rooftop PV project, the rooftop PV project of the UN

Compound in Beijing, the world's largest integrated source-grid-load-storage

project in Ulanqab, Inner Mongolia, and the Uivermeertjes floating PV project

in the Netherlands which is the second largest floating PV park outside of Asia.

In May 2022, JA Solar launched the n-type cell-based DeepBlue 4.0 X module,

which boasts a cell conversion efficiency of 25% and a maximum power of 625W.

Compared with mainstream p-type modules, DeepBlue 4.0 X can reduce balance of

system (BoS) costs by up to around 2.1% and levelized cost of electricity

(LCOE) costs by 3.5%-5%, which can further increase the profitability of

projects and create greater value for customers. JA Solar's n-type cell

capacity is expected to exceed 27GW by 2023, making it one of the first

enterprises to develop n-type cells and put them into production.

JA Solar is also promoting intelligent manufacturing by accelerating digital

transformation. During the production process, it has achieved meticulous

quality control ensuring quality is kept on a short leash through it 24-hour

real-time detection and automatic warning system. Taking JA Solar Yiwu

manufacturing base as an example, JA Solar realizes digital intelligence during

the whole process from planning and production to logistics, enabling

"visibility of the 7-day delivery process" of an order and ensuring precise

control of production efficiency and product quality.

Continued high-quality growth with a sound financial position

The semi-annual report shows that in the first half of 2022, JA Solar recorded

a revenue of RMB28.469 billion, representing an increase of 75.81% year on

year, and a net profit of RMB1.702 billion attributable to shareholders of the

listed company, representing an increase of 138.64% over the same period of the

previous year, showing an outstanding performance in the growth of operating

revenue and net profit. Moreover, the module shipment in the first half of 2022

achieved an increase of more than 50% (higher than the industry average) over

the same period of the previous year.

JA Solar has also been widely recognized for its solid performance inside and

outside the industry. To date, JA Solar has repeatedly been listed in the

Global Top 500 New Energy Enterprises, Fortune China 500, China's Top 500

Private Enterprises, China's Top 500 Private Manufacturers, among others, and

its rankings continue to climb.

SOURCE:  JA Solar Technology Co., Ltd.

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   Caption: JA Solar Awarded Highest AAA Rating in PV ModuleTech Bankability Rankings