JA Solar Reports Strong Financial Growth In 9M/2023

• JA Solar's solar module shipments during 9M/2023 added up to 37.63 GW 
• It should include 13.68 GW sold during Q3/2023 as it shipped 23.95 GW in H1 
• Its total revenues grew 22% YoY to RMB 59.98 billion, and net profit went up 106% 

Chinese solar PV vertically integrated manufacturer JA Solar said it shipped 37.63 GW of solar PV modules during the 9 months from January 2023 to September 2023, including 965 MW for its own use. Overseas markets made up around 52% of the total shipped. 

In a stock exchange announcement, the manufacturer does not specify the exact shipment data for Q3/2023. However, it is likely to have sold about 13.68 GW in the quarter since its H1/2023 module shipments were reported to be 23.95 GW (see 43.5% Annual Increase In JA Solar's H1/2023 Revenues). 

During the reporting period, the company continued its focus on expanding its n-type production capacity. Its 10 GW n-type cell projects in Yangzhou and Qujing are progressing as planned. By the end of 2023, it expects n-type cell production capacity in the company's portfolio to exceed 57 GW. 

The company's revenues grew to RMB 59.98 billion ($8.2 billion) with a jump of 22% YoY, while net profit for 9M/2023 swelled 106% YoY to RMB 6.8 billion ($929 million). 

In a separate announcement, JA said it plans to invest in the construction of 210 MW fishing and solar PV project in Jiangsu, 100 MW wind energy facility in Guizhou under phase I, and 100 MW/200 MWh energy storage assets in Chande City. 

The management expects to incur a total investment of RMB 1.57 billion ($214.5 million) on these as it sees these assets expanding the scale of its self-owned PV power stations.