UPDATE 2-JA Solar hikes sales view, boosts sector
Wed Apr 7, 2010 10:46am EDT
* Sees Q1 sales above 265 MW versus pvs range 215-225 MW
* Shares rise more than 9 percent (Adds impact on sector peers, updates share activity)
NEW YORK, April 7 (Reuters) - Chinese solar cell maker JA Solar Holdings Co Ltd (JASO.O) raised its first-quarter sales forecast, as demand from new and existing customers grew, boosting its shares more than 9 percent.
Demand for the photovoltaic solar equipment that turns sunlight into electricity has surged in recent months after a weak 2009, and JA Solar's bullish comments helped lift shares in several peers, including Suntech Power Holdings (STP.N), First Solar (FSLR.O) and Solarfun Power Holdings (SOLF.O).
JA Solar said it now expects to report sales for the quarter ended March 31 of over 265 megawatts, well above its previous forecast of 215 MW to 225 MW.
JA Solar won several new European customers in the first quarter, Chief Executive Peng Fang said in a statement, and has been seeing strong demand in several countries, including Germany, China, the United States, Italy, South Korea, Spain and France.
Last month, Fang told Reuters that the company had been approached by a few European companies to build partnerships, and that the company was considering joint ventures and equity exchange partnerships.
Shares of JA Solar rose 9.4 percent to $6.20 on Nasdaq. (Reporting by Matt Daily, editing by Gerald E. McCormick, Dave Zimmerman)
reuters.com |
