JA Solar Holdings announced its unaudited financial results for its fourth quarter and fiscal year ended December 31, 2015.
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Q4 net revenue was RMB 4.6 billion ($709.3 million), an increase of 28.5% y/y and +20.3% sequentially. Gross margin was 17.1%, an increase of 160 basis points y/y and a decrease of 60 basis points sequentially.
Q4 operating profit was RMB 260.1 million ($40.2 million), compared to RMB 222.4 million ($34.3 million) in the fourth quarter of 2014, and RMB 299.1 million ($46.2 million) in the third quarter of 2015.
Net income was RMB 184.9 million ($28.5 million), compared to RMB 166.1 million ($25.6 million) in the fourth quarter of 2014, and RMB 258.6 million ($39.9 million) in the third quarter of 2015.
Earnings per diluted ADS were RMB 3.39 ($0.52), compared to RMB 2.55 ($0.39) in the fourth quarter of 2014, and RMB 4.42 ($0.68) in the third quarter of 2015.
Cash and cash equivalents were RMB 2.9 billion ($445.1 million), an increase of RMB 1.0 billion ($161.2 million) during the quarter.
Non-GAAP earnings per diluted ADS were RMB 3.14 ($0.49), compared to RMB 1.74 ($0.27) in the fourth quarter of 2014, and RMB 4.35 ($0.67) in the third quarter of 2015.
Full year highlights
Net income was RMB 614.5 million ($94.9 million), compared to RMB 446.7 million ($69.0 million) in fiscal year 2014. Earnings per diluted ADS was RMB 10.58 ($1.63), compared RMB 6.88 ($1.06) in fiscal year 2014.
Cash and cash equivalents at the end of the fiscal year were RMB 2.9 billion ($445.1 million), compared with RMB 2.2 billion ($332.7 million) at the end of fiscal year 2014.
Non-GAAP net income attributable to JA Solar Holdings' ordinary shareholders was RMB 584.1 million ($90.2 million), compared to a non-GAAP net income attributable to the Company's ordinary shareholders of RMB 349.8 million ($54.0 million) in fiscal year 2014.
Non-GAAP earnings per diluted ADS in fiscal year 2015 was RMB 9.91 ($1.53), compared to a non-GAAP earnings per diluted ADS of RMB 5.45 ($0.84) in fiscal year 2014. ■