Another major solar company adjusted near-term earning predictions downward yesterday.
A Solar Holdings Co., Ltd., (Nasdaq: JASO) a Chinese manufacturer of solar cells said it expects revenue in 4Q08 to be approximately RMB 843 million (US$124 million) compared with earlier guidance of RMB 1.3 billion (US$191.5 million) to RMB 1.5 billion (US$220.9 million.)
American Depositary Shares of JA Solar fell $0.15, or 5%, to close at $2.85 on Wednesday, but ticked upward again in early trading on Thursday.
German solar cell manufacturer, Q-Cells SE (QCE.DE) on Tuesday reduced its forecast for the 2008 financial year, causing solar stocks across the board to dip.
JA Solar’s target for total production output has been updated to be in the range of 250-260 megawatts (MW) for 2008, from its earlier guidance of 310MW.
"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, CEO. "We remain positive about JA Solar’s overall competitive position, and continue to expect profitable growth in 2009."
In Related News…
Norwegian solar industry group Renewable Energy Corporation (REC.OL) said on Tuesday it had not yet seen lower demand as a result of the global financial crisis, but was expecting to see an impact.
Read that story at the link below.
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