BEIJING, Sept. 28, 2016 (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 its decision to
withdraw from the European Union’s ("EU") price undertaking. The Company will now serve the European market through its
manufacturing facilities outside of China.
In December 2013, the Council of the European Union imposed definitive anti-dumping and anti-subsidy duties on solar cells and
panels imported from China. In parallel, the European Commission accepted a price undertaking, whereby companies were required to
sell solar cells and panels in the EU at a price above a fixed Minimum Import Price ("MIP"), or else be levied anti-dumping and
anti-subsidy duties. Facing anti-dumping and anti-subsidy duties of 51.5% and 5.0%, respectively, JA Solar chose to
participate in the price undertaking at the time and has since demonstrated full compliance with its terms and conditions.
However, JA Solar believes the MIP currently in place no longer accurately reflects the market environment, as average selling
prices in the EU are already considerably below today’s MIP and continue to decrease. The Company concluded that it can
remain competitive in the EU markets only if it withdraws from the price undertaking.
Mr. Baofang Jin, JA Solar’s Chairman and CEO, commented, “We are committed to fair trade and market competition, as reflected by
our prior participation in, and compliance with, the terms of the price undertaking. However, we strongly believe that the
current MIP does not reflect the recent price trends in the market. Selling prices continue to decline, while the MIP has
remained unchanged for the past 18 months. Unfortunately, the current MIP adversely impacts our ability to execute our
business strategy and hinders the growth of the European solar industry. As a result, we believe that withdrawing from the
price undertaking agreement is our only choice to be competitive and further our goal of providing clean energy to the EU. We
believe this step will be beneficial to EU power producers, consumers, and the environment.”
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’s standard and high-efficiency product
offerings are among the most powerful in the industry. JA Solar shipped 4.0 GWp of solar power products in 2015. The Company is
headquartered in Beijing and maintains production facilities in Shanghai, Hebei, Jiangsu and Anhui provinces in China, as well as
Penang, Malaysia.
For more information, please visit www.jasolar.com.
Contact: The Blueshirt Group Ralph Fong Phone: +1 (415) 489-2195 Email: ralph@blueshirtgroup.com
