JA Solar boosted by first-quarter shipments and margins

Shares in JA Solar surged 13% after the Chinese module maker posted higher-than-expected shipments and better margins in the first quarter.

The company said it shipped 366MW of panels in the first three months of the year, ahead of its guidance of 320-350MW. It was helped by strong demand in Germany and Italy.

Gross margins improved to 2.1%, up from 0.5% in the fourth quarter, even after including provisions for potential US countervailing and anti-dumping duties worth $2.9m.

JA Solar shares rose 13.5% to $1.01 on the Nasdaq stock exchange following the announcement.

Chief executive Fang Peng says the majority of the firm’s products sold in the US in the first quarter contained cells produced…

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