JA Solar’s 2023 Annual Revenues Improved 11.74 Percent

• JA Solar's FY 2023 operating income increased by 11.74% annually to RMB 81.6 billion 
• In Q1/2024, however, it suffered a net loss of RMB -482 million compared to a net profit in the previous year 
• For FY 2024, JA Solar has guided its annual solar shipments to range between 85 GW and 95 GW 

JA Solar Technology says its solar cell and module shipments during FY 2023 exceeded 57 GW with overseas module shipments accounting for close to 48%. During Q1/2024, it shipped 16.059 GW of solar cells and modules with approximately 62% going to markets outside of its home turf China. 

For 2023, the manufacturer earned an operating income of RMB 81.55 billion ($11.35 billion), representing an annual increase of 11.74%. Its net profit for the year went up by 27.21% to RMB 7.04 billion ($977.17 million). 

However, in Q1/2024, its operating income of RMB 15.97 billion ($2.21 billion) declined by 22.02% Year-over-Year (YoY), while it suffered a net loss of RMB -482 million ($67 million), a drop of 118.7% from last year's net profit of RMB 2.58 billion ($357 million). 

At the end of 2023, JA Solar says its total solar module production capacity reached 95 GW with the silicon wafer and cell capacity accounting for about 90% of the module capacity. Of this, n-type cell production capacity exceeded 57 GW. 

By the end of 2024, it targets to expand its annual silicon wafer, cell and module production capacity to 100 GW each. 

The Chinese company guides its 2024 shipments to range between 85 GW and 95 GW after having shipped a cumulative 201 GW as of Q1/2024-end.