JA Solar sees significant borrowing increase in 2025

JA Solar Technology Co., Ltd. has disclosed an accumulated increase in borrowings totaling 685,221.04 yuan for January to November 2025. This amount represents 24.56% of the company's net assets attributable to shareholders as of the end of 2024, which stood at 2,789,624.75 yuan. The majority of this increase is attributed to bank borrowings, which grew by 767,185.37 yuan, accounting for 27.50% of the 2024 year-end net assets.

Conversely, non-bank borrowings saw a decrease of 81,964.33 yuan, representing a -2.94% change relative to the 2024 year-end net assets. The company states that these new borrowings are in line with its overall production and operational plans, aiming to facilitate the sustained and stable development of existing businesses.

JA Solar Technology asserts that its financial condition remains stable, with all debts being repaid on time. The company believes that the additional borrowings will not materially adversely affect its ability to service debt. Investors are advised that the disclosed 2025 borrowing data is based on consolidated figures and has not been audited.