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2459

JA Solar Technology XSEC:002459 Stock Report

Last Price

CN¥78.80

Market Cap

CN¥185.0b

7D

3.7%

1Y

128.0%

Updated

30 Jun, 2022

Data

Company Financials +
2459 fundamental analysis
Snowflake Score
Valuation1/6
Future Growth5/6
Past Performance4/6
Financial Health5/6
Dividends0/6

2459 Stock Overview

JA Solar Technology Co., Ltd. designs, develops, manufactures, and sells solar power products based on crystalline silicon technologies.

JA Solar Technology Competitors

Price History & Performance

Summary of all time highs, changes and price drops for JA Solar Technology
Historical stock prices
Current Share PriceCN¥78.80
52 Week HighCN¥83.50
52 Week LowCN¥30.00
Beta0.84
1 Month Change17.86%
3 Month Change38.35%
1 Year Change128.03%
3 Year Changen/a
5 Year Changen/a
Change since IPO628.19%

Recent News & Updates

Shareholder Returns

2459CN SemiconductorCN Market
7D3.7%4.6%2.3%
1Y128.0%-0.9%-8.1%

Return vs Industry: 002459 exceeded the CN Semiconductor industry which returned -6.6% over the past year.

Return vs Market: 002459 exceeded the CN Market which returned -10.1% over the past year.

Price Volatility

Is 2459's price volatile compared to industry and market?
2459 volatility
2459 Average Weekly Movement7.6%
Semiconductor Industry Average Movement8.3%
Market Average Movement7.3%
10% most volatile stocks in CN Market10.2%
10% least volatile stocks in CN Market5.1%

Stable Share Price: 002459 is not significantly more volatile than the rest of CN stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: 002459's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200529,638Baofang Jinhttps://www.jasolar.com

JA Solar Technology Co., Ltd. designs, develops, manufactures, and sells solar power products based on crystalline silicon technologies. The company was founded in 2005 and is based in Xingtai, China. JA Solar Technology Co., Ltd.

JA Solar Technology Fundamentals Summary

How do JA Solar Technology's earnings and revenue compare to its market cap?
2459 fundamental statistics
Market CapCN¥185.02b
Earnings (TTM)CN¥2.63b
Revenue (TTM)CN¥46.67b

70.3x

P/E Ratio

4.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
2459 income statement (TTM)
RevenueCN¥46.67b
Cost of RevenueCN¥39.55b
Gross ProfitCN¥7.12b
Other ExpensesCN¥4.48b
EarningsCN¥2.63b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)1.12
Gross Margin15.25%
Net Profit Margin5.64%
Debt/Equity Ratio80.6%

How did 2459 perform over the long term?

See historical performance and comparison

Dividends

0.1%

Current Dividend Yield

9%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 2459 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2459?

Other financial metrics that can be useful for relative valuation.

2459 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4.1x
Enterprise Value/EBITDA31x
PEG Ratio2.5x

Price to Earnings Ratio vs Peers

How does 2459's PE Ratio compare to its peers?

2459 PE Ratio vs Peers
The above table shows the PE ratio for 2459 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average70.4x
603501 Will Semiconductor
35x21.4%CN¥151.7b
688599 Trina Solar
78.4x30.3%CN¥141.4b
688223 Jinko Solar
114.7x33.6%CN¥149.3b
002049 Unigroup Guoxin Microelectronics
53.3x31.9%CN¥115.1b
002459 JA Solar Technology
70.3x27.9%CN¥185.0b

Price-To-Earnings vs Peers: 002459 is good value based on its Price-To-Earnings Ratio (70.3x) compared to the peer average (70.4x).


Price to Earnings Ratio vs Industry

How does 2459's PE Ratio compare vs other companies in the CN Semiconductor Industry?

Price-To-Earnings vs Industry: 002459 is expensive based on its Price-To-Earnings Ratio (70.3x) compared to the CN Semiconductor industry average (54.1x)


Price to Earnings Ratio vs Fair Ratio

What is 2459's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2459 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio70.3x
Fair PE Ratio61.3x

Price-To-Earnings vs Fair Ratio: 002459 is expensive based on its Price-To-Earnings Ratio (70.3x) compared to the estimated Fair Price-To-Earnings Ratio (61.3x).


Share Price vs Fair Value

What is the Fair Price of 2459 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 002459 (CN¥78.8) is trading above our estimate of fair value (CN¥12.2)

Significantly Below Fair Value: 002459 is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: 002459 is poor value based on its PEG Ratio (2.5x)


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Future Growth

How is JA Solar Technology forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


27.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 002459's forecast earnings growth (27.9% per year) is above the savings rate (3.2%).

Earnings vs Market: 002459's earnings (27.9% per year) are forecast to grow faster than the CN market (23.9% per year).

High Growth Earnings: 002459's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: 002459's revenue (17.8% per year) is forecast to grow faster than the CN market (17.5% per year).

High Growth Revenue: 002459's revenue (17.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 002459's Return on Equity is forecast to be high in 3 years time (23.7%)


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Past Performance

How has JA Solar Technology performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


32.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 002459 has a high level of non-cash earnings.

Growing Profit Margin: 002459's current net profit margins (5.6%) are higher than last year (4.9%).


Past Earnings Growth Analysis

Earnings Trend: 002459's earnings have grown significantly by 32.7% per year over the past 5 years.

Accelerating Growth: 002459's earnings growth over the past year (91%) exceeds its 5-year average (32.7% per year).

Earnings vs Industry: 002459 earnings growth over the past year (91%) exceeded the Semiconductor industry 68.3%.


Return on Equity

High ROE: 002459's Return on Equity (15%) is considered low.


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Financial Health

How is JA Solar Technology's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 002459's short term assets (CN¥36.2B) do not cover its short term liabilities (CN¥38.2B).

Long Term Liabilities: 002459's short term assets (CN¥36.2B) exceed its long term liabilities (CN¥7.8B).


Debt to Equity History and Analysis

Debt Level: 002459's net debt to equity ratio (13%) is considered satisfactory.

Reducing Debt: 002459's debt to equity ratio has reduced from 90.4% to 80.6% over the past 5 years.

Debt Coverage: 002459's debt is well covered by operating cash flow (20%).

Interest Coverage: 002459 earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is JA Solar Technology current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


0.14%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 002459's dividend (0.14%) isn’t notable compared to the bottom 25% of dividend payers in the CN market (0.48%).

High Dividend: 002459's dividend (0.14%) is low compared to the top 25% of dividend payers in the CN market (1.94%).


Stability and Growth of Payments

Stable Dividend: 002459 is not paying a notable dividend for the CN market, therefore no need to check if payments are stable.

Growing Dividend: 002459 is not paying a notable dividend for the CN market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: 002459 is not paying a notable dividend for the CN market.


Cash Payout to Shareholders

Cash Flow Coverage: 002459 is paying a dividend but the company has no free cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.5yrs

Average board tenure


CEO

Baofang Jin (69 yo)

no data

Tenure

CN¥3,706,400

Compensation

Mr. Baofang Jin serves as Non-Independent Director at JA Solar Technology Co., Ltd. since Decenber 05, 2019 and serves as its Chief Executive Officer. He serves as Co- Founder at JA Solar Holdings Co., Ltd...


Board Members

Experienced Board: 002459's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5%.


Top Shareholders

Company Information

JA Solar Technology Co., Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: JA Solar Technology Co., Ltd.
  • Ticker: 2459
  • Exchange: XSEC
  • Founded: 2005
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Implied Market Cap: CN¥185.019b
  • Shares outstanding: 2.35b
  • Website: https://www.jasolar.com

Number of Employees


Location

  • JA Solar Technology Co., Ltd.
  • Jinglong Industry Park, Jinglong Street
  • Ningjin
  • Xingtai
  • Hebei Province
  • 55550
  • China

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/30 00:00
End of Day Share Price2022/06/29 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.