JA Solar Holdings Co. announced its unaudited financial results for its second quarter ended June 30, 2014. The second quarter 2014 Highlights are:
- Total shipments were 681.8 MW, increases of +47.0% y/y and +6.8% sequentially
- Shipments of modules and module tolling were 445.8 MW, increases of +75.6% y/y and +14.9% sequentially
- Shipments of cells and cell tolling were 236.0 MW, increases of +12.5% y/y and decreases of 5.7% sequentially
- Net revenue was RMB 2.4 billion ($390.5 million), an increase of +52.9% y/y and +6.5% sequentially
- Gross margin was 15.2%, an increase of 710 basis points y/y but a decrease of 150 basis points sequentially
- Operating profit was RMB 89.7 million ($14.5 million), compared to an operating loss of RMB 33.3 million ($5.4 million) in the second quarter of 2013, and an operating profit of RMB 160.9 million ($25.9 million) in the first quarter of 2014
- Net income was RMB 40.1 million ($6.5 million), compared to a net loss of RMB 132.4 million ($21.3 million) in the second quarter of 2013, and a net income of RMB 85.0 million ($13.7 million) in the first quarter of 2014
- Earnings per diluted ADS were RMB 0.59 ($0.10), compared to a loss per diluted ADS of RMB 3.58 ($0.58) in the second quarter of 2013, and an earnings per diluted ADS of RMB 1.41 ($0.23) in the first quarter of 2014
- Cash and cash equivalents were RMB 2.0 billion ($326.9 million), an increase of RMB 80.1 million ($12.9 million) during the quarter
- Operating cash flow was negative RMB 84.0 million ($13.5 million), compared to positive RMB 198.2 million ($32.0 million) in the first quarter of 2014
- Non-GAAP earnings per diluted ADS were RMB 0.87 ($0.14), compared to Non-GAAP loss per diluted ADS of RMB 3.58 ($0.58) in the second quarter of 2013, and Non-GAAP earnings per diluted ADS of RMB 1.99 ($0.32) in the first quarter of 2014
