Japan helps JA Solar in Q1

JA Solar posted a $13.3m profit in the first quarter, on shipments of 638.1MW of PV, surpassing the high end of its guidance by roughly 28MW.

Modules accounted for 388MW of total shipments for the three months to 31 March, the Shanghai-based company said.

At the same stage last year JA Solar made a net loss of $33.6m. Revenue jumped 36% on the year to $366m.

Chief executive Baofang Jin partly attributed the company’s second straight quarterly profit to steady sales in Japan.

The company expects demand in China to pick up in the second half of this year, when a number of state-backed utility projects start development.

JA Solar maintained its 2014 shipment target of 2.7GW to 2.9GW, including roughly 200MW for its downstream projects.