JA Solar has received the highest possible AAA rating on September 13 when PV 
Tech released its PV ModuleTech Bankability Rankings for the third quarter of 
2022. The list saw JA Solar's leading manufacturing advantages and solid 
financial position reflected in key indicators such as shipments, capacity 
layout, technology layout, and financial performance. According to the report, 
JA Solar is one of the most consistent A-grade suppliers in terms of all the 
key metrics for the period 2014 to 2022.

Steady and balanced business development across the globe

On August 26, JA Solar released its 2022 semi-annual report, which shows JA 
Solar's overseas shipments accounted for 67% in the first half of 2022. In 
recent years, JA Solar has continued to steadily expand its international 
reach, with overseas shipments consistently contributing 60% to 70% of total 
shipments. JA Solar has now established complete industrial chains at home and 
abroad respectively based on its 12 manufacturing bases around the world, 
providing strong capacity support for its shipments to global markets.

JA Solar's global market share reached 14% in 2021. Specifically, its share in 
established markets continued rising, including Europe at approximately 18% and 
China at approximately 19%; in emerging markets, JA Solar's share in 2021 
scaled to a record high of 46% in Pakistan, 58% in Malaysia and approximately 
40% in Israel. Moreover, it has also found new outlets such as Guyana in South 
America, Sierra Leone in Africa, Tahiti in Oceania, and Uzbekistan in Central 
Asia, contributing to steady business development across the globe. As 
indicated in the PV ModuleTech report, JA Solar will become more competitive in 
the US market with the advancement of its global production layout.

A step ahead in technology-driven development

JA Solar has kept increasing its investment in scientific research to meet the 
evolving market demand and promote the technological iteration and upgrade of 
the industry. As of the first half of 2022, JA Solar had been granted 1,178 
patents for independent research and development. The average conversion 
efficiency of its mass-produced Percium cells has reached 23.7% and that of 
n-type cells has reached 25%.

Particularly, the Percium-cell-based DeepBlue 3.0 modules have attracted 
market-wide attention around the globe since the first order was shipped in 
October 2020. By the end of June 2022, shipment of the product had amounted to 
24GW. And it has been applied in key global projects such as the Beijing 
Fengtai Railway Station rooftop PV project, the rooftop PV project of the UN 
Compound in Beijing, the world's largest integrated source-grid-load-storage 
project in Ulanqab, Inner Mongolia, and the Uivermeertjes floating PV project 
in the Netherlands which is the second largest floating PV park outside of Asia.

In May 2022, JA Solar launched the n-type cell-based DeepBlue 4.0 X module, 
which boasts a cell conversion efficiency of 25% and a maximum power of 625W. 
Compared with mainstream p-type modules, DeepBlue 4.0 X can reduce balance of 
system (BoS) costs by up to around 2.1% and levelized cost of electricity 
(LCOE) costs by 3.5%-5%, which can further increase the profitability of 
projects and create greater value for customers. JA Solar's n-type cell 
capacity is expected to exceed 27GW by 2023, making it one of the first 
enterprises to develop n-type cells and put them into production.

JA Solar is also promoting intelligent manufacturing by accelerating digital 
transformation. During the production process, it has achieved meticulous 
quality control ensuring quality is kept on a short leash through it 24-hour 
real-time detection and automatic warning system. Taking JA Solar Yiwu 
manufacturing base as an example, JA Solar realizes digital intelligence during 
the whole process from planning and production to logistics, enabling 
"visibility of the 7-day delivery process" of an order and ensuring precise 
control of production efficiency and product quality.

Continued high-quality growth with a sound financial position

The semi-annual report shows that in the first half of 2022, JA Solar recorded 
a revenue of RMB28.469 billion, representing an increase of 75.81% year on 
year, and a net profit of RMB1.702 billion attributable to shareholders of the 
listed company, representing an increase of 138.64% over the same period of the 
previous year, showing an outstanding performance in the growth of operating 
revenue and net profit. Moreover, the module shipment in the first half of 2022 
achieved an increase of more than 50% (higher than the industry average) over 
the same period of the previous year.

JA Solar has also been widely recognized for its solid performance inside and 
outside the industry. To date, JA Solar has repeatedly been listed in the 
Global Top 500 New Energy Enterprises, Fortune China 500, China's Top 500 
Private Enterprises, China's Top 500 Private Manufacturers, among others, and 
its rankings continue to climb.

SOURCE:  JA Solar Technology Co., Ltd.

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   Caption: JA Solar Awarded Highest AAA Rating in PV ModuleTech Bankability 
Rankings