JA Solar reports significant H1 2025 performance loss

Oriental Golden Credit Rating International Co., Ltd. has issued an announcement of concern regarding JA Solar Technology Co., Ltd.'s 2025 semi-annual performance. The credit rating agency noted that JA Solar's semi-annual report, released on August 23, 2025, revealed a significant loss.

For the period of January to June 2025, JA Solar reported a total operating income of 23.905 bn yuan. However, the company incurred a total profit loss of -2.762 bn yuan. The net profit attributable to shareholders of listed companies was -2.580 bn yuan, with a net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of -2.287 bn yuan.

The performance decline is primarily attributed to overcapacity in the photovoltaic industry supply chain leading to periodic supply-demand imbalance, intensified industry competition, and a year-on-year decrease in major product prices across all segments. Exacerbated by increasing international trade protection policies, the company's module sales prices and profitability have fallen. Despite this, JA Solar's battery module shipments in the first half of 2025 remained among the industry's leaders, and the company plans to improve profitability through enhanced operational management, cost control, and product competitiveness. Oriental Golden Credit Rating International will continue to monitor JA Solar's operational and financial status.