In its annual report released at the end of April, leading module manufacturer JA Solar put forward, for the first time, its “two-wing” strategy of smart energy and PV new materials on top of its current vertically integrated production capacity.
The company reported an operating revenue of RMB 41.30 billion in 2021, a year-on-year increase of 59.80%. Its net profit rose by 35.31% to RMB 2.03 billion.
With wafer, cell and module manufacturing at the core, JA Solar is expanding investment in the manufacture of PV auxiliary materials and equipment and the provision of solar application solutions, which are referred to as the “two wings” of its business. The aim of the strategy is to strength the resilience and safeguard the long-term development of JA Solar’s major business.
On the application side, JA Solar achieved RMB 436 million of operating revenue in 2021 by selling 110 MW solar power systems and selling clean power by operating 350 MW of systems.
The company also has a 700 MW project pipeline in China, which are expected to be connected to the grid by the end of 2022. For a stable growth of profit, JA Solar plans to expand its investment in solar system development both in China and abroad.
In terms of auxiliary materials and equipment, JA Solar currently has built production capacity of solar films, aluminum frame, silver pastes and other auxiliary materials, as well as manufacturing equipment for mono crystalline and high-purity graphite products.
The company hopes to further lower material and equipment costs to safeguard the fast development of its major businesses through this move.
Meanwhile, JA Solar aims to lead the commercialization of next-gen n-type cells and maintain its leading edge in cell technology R&D, according to the report.
