JA SOLAR(SZ:002459) Xin Jing Bao·2025-09-15 12:54Core Viewpoint - The focus on energy storage has intensified for JA Solar Technology (002459.SZ) following Longi Green Energy's (601012.SH) recent entry into the energy storage sector, prompting investors to reassess the strategies of various renewable energy companies [2][5]. Group 1: Company Overview - JA Solar began its energy storage business in 2022 and restructured its main product line to include both photovoltaic and energy storage solutions in 2023 [3]. - The company has established several energy storage subsidiaries, including a joint venture with Haibos Technology in 2022 [3]. Group 2: Financial Performance - In the first half of the year, JA Solar reported a revenue of 23.905 billion yuan, a year-on-year decrease of 36%, and a net loss of 2.58 billion yuan, which is an increase in losses compared to the same period last year [5]. - The company attributed its financial struggles to an oversupply in the photovoltaic industry, leading to intensified competition and declining prices [5]. - Despite the net loss, the company reported a significant improvement in cash flow, with net cash flow from operating activities turning positive [5]. Group 3: Market Position and Strategy - JA Solar's revenue is heavily reliant on photovoltaic modules, with over 95% of its income derived from this segment, making it vulnerable to price fluctuations [7]. - The company has set a goal to return to profitability by 2026, with an employee stock ownership plan linked to achieving specific net profit targets [10]. - JA Solar has secured new orders in the energy storage sector, including a project in Egypt to build a new factory with a capacity of 2GW for batteries and components [4][5].