[odyd 1,315]

JA looks like it has very small amount of sales on export, versus their projections. Those sales in Mainland will offset this hopefully.

[Guest redsolar]

Odyd, JASO still has the edge in Japan with their Cypress mono module products.

[odyd 1,315]

I know that JA shipped 6.7MW in Q3 to Japan, Suntech around 4, CSIQ 3MW and SolarOne about 2.5MW. Suntech did 50MW to the US and Yingli about 25MW. Data is of course only for 2 months of Q3.

[Guest redsolar]

Quite impressive...wonder how you track these numbers? US customs import database?

[odyd 1,315]

Sources in China, they are custom figures.

[odyd 1,315]

This is company's recent presentation with explanation on cypress, I am also testing ability to make attachments.

[Guest redsolar]

Presentation looks impressive. My only concern with this company is lack of transparency. Why these guys pay so much interest per dollar borrowed while the peers pay less per dollar...is beyond my comprehension.

[explo 632]

That is a nice presentation. One of my big worries with JASO is their agreement with Hefei city to build 3GW integrated wafer to module capacity by 2013. They are already 2GW behind schedule. 3GW Chinese cell capacity in addition to the 2.8GW they have and are not fully utilizing in a time when there's question marks on whether Chinese cells will be eligible for the EU and US markets? The Hefei plant cost is estimated to 2.1 billion USD. That would stretch their now solid balance sheet. I find it a bit strange that analysts never ask about this.

[Guest greensolar]

JA Solar’s Cypress cell reaches new high in average conversion efficiency

[*]

JA Solar's Cypress cells reach new average efficiencies.

[*]JASONASDAQ0.837

-0.021 (-2.47%)4:00PM EDT

The company noted in its Cypress series, its 6” full square monocrystalline solar modules and 6” standard monocrystalline modules now produce a power output of 280W and 270W, respectively. Additionally, its 6” multicrystalline solar modules produce a power output of 260W.

JA Solar pointed out that it has shipped over 300MW of its Cypress cells, including over 100MW to external customers. "We are delighted to have made yet another breakthrough with our Cypress series, as we continue to find innovative ways to service the market demand for high-quality, high-efficiency solar products," said Dr. Peng Fang, CEO of JA Solar. "By offering higher conversion efficiency without increasing the cost of cells, the Cypress cells further help to reduce the cost of modules on a per watt basis by ensuring a high power output. Customers are responding very well to this compelling value proposition, and we're confident that our continued focus on pushing technological boundaries will drive continued growth."

http://www.pv-tech.org/news/ja_solars_cypress_cell_reaches_new_high_in_average_conversion_efficiency

[Guest redsolar]

***Aagreement with Hefei city*** JASO is not obligated to build the whole thing...and there is no dead line. So, first they have to clean the house ...before they start expanding....unless Hefei gives them some big power plant projects.

[Guest redsolar]

These guys already operating in the sweet spot area..cells. The only concern right now...is ...under utilization. Hopefully the Cypress tech...keeps them busy selling modules and increase their market share.

[explo 632]

If it weren't for the under utilization now JASO would be one of the best solar 11 buys.

[odyd 1,315]

Explo, JA's cell capacity is stone around their neck right now. Their technology well advanced by markets are narrowing for them. ReneSola looks like a visionary with not having cell capacity. They can buy cells from anyone but Mainland and build their modules. I think ReneSola can think of expansion outside of China.

[Guest redsolar]

Yes...Also Renesola can build the latest and the greatest cell lines..if they want to. Cell automation has been advanced quite a bit..with all those laser spot welding etc.

[explo 632]

Yes, I think utilization is a key to avoid balance sheet deterioration. Especially for upstream businesses. Look how LDK's balance sheet is doing compared to SOL's. Utilization of course only means something if you quickly can turn the inventory at non-dumping prices. SOL sells wafers at full capacity and premium prices. No one else is in this position now. I think they are kind of passing a tough test here. Not only is their world (PV industry) on fire, Goliat (GCL) also challenged them during this time, and surprisingly SOL is standing most steadfast.

[Guest redsolar]

Odyd, Do these numbers reflect only the module sales...or both module+cell exports.

[odyd 1,315]

Just modules

[odyd 1,315]

JA beat the guidance. Huge numbers in China, we saw that in our article, so I am happy we did not missed it. 0.72 is better than Jinko's 0.68 so geography is playing big time as Japan and Austalia offsets JA a lot better than Jinko's overseas shipments. Nice work on the BS by JA as well. $16M cash out but $83M of debt out with it. Good cash flow. I think the light is there at the end of the tunnel. With prices holding for 3 weeks in ASP, things can get interesting in January once more. I am really happy with Synergy going to have plant in Turkey, moving equipment from China, what a ballsy move.

[explo 632]

http://pv.energytrend.com/news/J_S_Solar_20130116.html Opposite to for example LDK where chairman stepped back and made CTO/COO new CEO. Companies are clearly under pressure and try to figure out what kind of leadership is required now.

[explo 632]

Couple of days old news. JASO is in a similar situation as SOL, with a brandless module division taking a lot of market-share and becoming the biggest revenue division of the company. This poses the question whether they'll continue to focus on the core cell business or focus primarily on module sales driven by their cell technology. Maybe the leadership change is related to this questions?