December 10, 2008

Hebei, China: JA Solar Updates Guidance for Q4 2008

Chinese cell manufacturer, JA Solar today updated its November 12, 2008 fourth quarter financial guidance.

The company now expects revenue in the fourth quarter to be approximately RMB 843 million or $124 million compared with earlier guidance of RMB 1.3 billion or $191.5 million to RMB 1.5 billion or $220.9 million.

Guidance for gross margin to be in the range of 5 to 7 percent and non- GAAP earnings per ADS to be approximately break-even remains the same.

JA Solar's target for total production output has been updated to be in the range of 250-260MW for 2008, from its earlier guidance of 310MW for 2008. The nameplate annual production guidance remains at 600MW for the end of this year.

"Over the past few weeks, we have seen a dramatic slowdown in orders, which we believe is related to macro economic conditions," said Samuel Yang, chief executive officer. "We remain positive about JA Solar's overall competitive position, and continue to expect profitable growth in 2009."

Further details about: JA Solar