Press release from GlobeNewswire (a Nasdaq OMX company)
JA Solar Repays $119 Million of Its Convertible Notes Due May 2013
Thursday, May 16, 2013
JA Solar Repays $119 Million of Its Convertible Notes Due May 201303:00 EDT Thursday, May 16, 2013
SHANGHAI, China, May 16, 2013 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (Nasdaq:JASO) ("JA Solar" or the "Company"), one of the world's largest manufacturers of high-performance solar power products, today announced that it has repaid at maturity a total of $119 million, comprising the principal amount and accrued interest, of its 4.5% convertible notes due May 15, 2013.
"JA Solar is committed to meeting all of our debt obligations and managing our balance sheet prudently to protect the interests of our stakeholders," said Mr. Baofang Jin, executive chairman and CEO of JA Solar. "The successful repayment of these convertible notes is a testament to our solid business execution and financial strength. While market conditions remain challenging, we are confident that JA Solar's combination of industry-leading high-performance products and stringent financial management will make us a long-term winner in the global solar industry."
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as "may," "expect," "anticipate," "aim," "intend," "plan," "believe," "estimate," "potential," "continue," and other similar statements. Statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to, our expectations regarding the expansion of our manufacturing capacities, our future business development, and our beliefs regarding our production output and production outlook. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Further information regarding these and other risks is included in Form 20-F and other documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world's largest producers of solar power products. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company distributes products under its own brand and also produces on behalf of its clients. The Company shipped 1.7 GW of solar power products in 2012. JA Solar is headquartered in Shanghai, China, and maintains production facilities in Shanghai, as well as Hebei, Jiangsu and Anhui provinces.
For more information, please visit www.jasolar.com.
CONTACT: In China Nick Beswick Brunswick Group Tel: +86-10-5960-8600 E-mail: firstname.lastname@example.org In the U.S. Cindy Zheng Brunswick Group Tel: +1-212-333-3810 E-mail: email@example.com