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Chinese solar panel maker JA Solar saw an increase in year-on-year revenue but warned that its bottom line had been impacted more than it had anticipated by market conditions.
Its second quarter revenue totalled $413m, an increase of more than 12 per cent but this could not stop it recording a loss of $35.4m.
Dr Peng Fang, CEO of JA Solar, said, 'Our second quarter results reflect the market disruption that resulted from generally lower than anticipated installation levels in Germany and recent policy changes in Italy.
'Despite that challenging environment in the European market, demand for our high-efficiency, low-cost products remained healthy and ensured that we met our shipment goals. However, our gross margin and bottom line have been impacted by worse than anticipated market conditions and inventory provisions.'
Total shipments in the second quarter of 2011 were 401MW, compared with shipments of 451MW in the first quarter of 2011, representing a sequential decrease of 11.1 per cent.
He said, however, that in recent weeks there had been signs of market recovery in both orders and volume shipments.
'We are particularly pleased to see growing demand for JA Solar's high-efficiency products, which underscores the success of our ongoing efforts to improve solar cell conversion efficiencies. With this healthy demand from our customers, we expect shipment volumes to increase in the second half of this year compared to the first half.'
