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odyd

JA Solar (JASO)

2,667 posts in this topic

11 hours ago, explo said:

1b? That's a lot of cell capacity.

I would take this with a rock of salt. It is Vietnamese publication. How many times we have seen this before, Pakistan, India, for all of those companies? Unless JA issues a news, this could be a 100MW

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I have been paying less attention to JASO (and most solars) the last ~6 months. 

Can anyone remind me is there still a buyout offer (floating somewhere out there) for JASO from a JASO executive?  What was the price offered? I assume this offer is to be viewed with skepticism?

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12 minutes ago, disdaniel said:

I have been paying less attention to JASO (and most solars) the last ~6 months. 

Can anyone remind me is there still a buyout offer (floating somewhere out there) for JASO from a JASO executive?  What was the price offered? I assume this offer is to be viewed with skepticism?

The offer has a 96% premium over current market price so I think the market don't give much for that soon two years old non-binding offer.

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Yet the short interest, just like with TSL, is non-existent. Either they wait for TSL to go out officially (and I play it such as once it happens, should be this month, JA's PPS will/should move up) hence short interest is low, or if they are sure JA is not following TSL and once JA reports on 16th with terrible guidance, shorts will pile on and PPS will plummet fast (PPS dropped 4% from 2% down to 6% down within seconds earlier today, so they can do as the please). I hope TSL departs before 16th so JA has a chance to move up.  

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Any thoughts on upcoming earnings? Seems they restored sales volume but had a slight decrease in revenue indicated. 1 site has -0.07 eps.

Worried that shorts will pile on though frankly, they will probably dog pile on anyway even if the results were good.

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It looks like two out of three Chinese do not have a problem with the glut prices. Two out two American companies do. JA did very well. I have not seen the balance sheet yet, but EPS was high for one-quarter with GM over 12%.

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answer

Included in operating expenses in the fourth quarter of 2016 were a one-time reversal of RMB 348.3 million ($50.2 million) of previously recorded expenses due to the resolution of the Company’s dispute with Hemlock Semiconductor Pte. Ltd (“Hemlock”), and a one-time charge of RMB 99.6 million ($14.3 million) resulted from the termination of business relationship with one of the Company’s business partners.

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Yes if you deduct this (one time) "profit" of $36M from net income of $51M, you'll end up with about .$29 EPS. Still not bad.

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23 minutes ago, odyd said:

Included in operating expenses in the fourth quarter of 2016 were a one-time reversal of RMB 348.3 million ($50.2 million) ....  and a one-time charge of RMB 99.6 million ($14.3 million)

Hi Robert.  So is that bonus added into income & is that is why ASPs look good?

B/C looks like ASPs were about 0.41c for the quarter.  

 

So when pvinsights.com writes Q4 price is 0.37c, it means end of quarter, with a decline of 8%, gives starting quarter value of 0.4.  Avg would be 0.385, so JASO can get 2-3 cents more per W than pvinsights.com price.

Now how to determine cost per watt?

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