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One of the world's largest makers of solar cells and modules, selling to utility and rooftop solar developers globally.
One of the world's largest makers of solar cells and modules, selling to utility and rooftop solar developers globally.
Sells modules mainly under supply contracts to utility developers and through distributors for rooftops, at prices that track cell and polysilicon costs, so margins are squeezed when supply is plentiful. Founder-led under chairman Jin Baofang, it left Nasdaq and relisted in Shenzhen.
In one line: A large Chinese solar manufacturer, akin to First Solar/Canadian Solar at bigger scale.
Moat: none (scale). Large manufacturing scale, but solar modules are a global commodity with thin, cyclical margins.
Headquarters: Beijing, China · Founded: 2005 · Employees: 25,260
Size JA Solar Technology (002459.SZ) is a China Information Technology company (Semiconductors) with a market value of $3.50B, the 735th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.08 on 6 Nov 2026.
Performance Over six months the shares fell 34.9%, against -24.9% for the median peer and -16.4% for the China market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue fell 23.1% over the last twelve months (peer median +23.9%).
Valuation It trades at 1.5× enterprise value to sales against a peer median of 5.2× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about -20% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -34 pp: the price already allows for a slowdown.
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥40.4B | CN¥49.1B | CN¥70.0B | CN¥81.4B | CN¥72.9B |
| Revenue growth | — | -30% | -14% | +12% | — |
| Gross profit | n/a | -CN¥1.36B | CN¥2.83B | CN¥14.0B | CN¥10.5B |
| EBITDA | n/a | CN¥734M | CN¥4.93B | CN¥12.4B | CN¥9.54B |
| Net income | -CN¥4.69B | -CN¥4.61B | -CN¥4.66B | CN¥7.04B | CN¥5.53B |
| Free cash flow | CN¥12.0B | -CN¥835M | -CN¥8.55B | -CN¥5.35B | CN¥371M |
| Capital expenditure | CN¥3.09B | CN¥5.04B | CN¥11.8B | CN¥17.9B | CN¥7.76B |
| Total debt | CN¥58.5B | CN¥59.2B | CN¥55.7B | CN¥35.5B | CN¥21.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| JA Solar Technology 002459.SZ | $3.50B | -35% | -23% | n/a | 1.5× | -20.3% |
| LONGi Green Energy Technology 601012.SS | $14.1B | -25% | -16% | -12% | 1.4× | n/a |
| Trina Solar 688599.SS | $3.90B | -36% | -3% | -9% | 0.9× | -4.3% |
| JinkoSolar Holding Co., Ltd. Sponsored ADR JKS | $551M | -55% | -15% | -8% | 0.8× | n/a |
| Canadian Solar CSIQ | $755M | -45% | -16% | -2% | 1.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002459.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | -20.3% | 2nd highest of 21 |
| 6-month return | -34.9% | -24.9% | 7th lowest of 19 |
| Distance from 52-week high | -54.4% | -53.6% | 10th lowest of 21 |
| Revenue growth (TTM) | -23.1% | +23.9% | 3rd lowest of 21 |
| EV / Sales | 1.5× | 5.2× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | -20.3% | 17.9% | least demanding of 8 |
| Growth delivered (Del g) | +13.7% | +17.9% | 3rd lowest of 8 |
| Hurdle (Req g minus delivered) | -34.0 pp | -6.1 pp | least demanding of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JA Solar Technology 002459.SZ | China | $3.50B | -35% | -23% | n/a | 1.5× | -20.3% | +13.7% |
| Suzhou Everbright Photonics 688048.SS | China | $3.48B | -63% | +88% | -1% | 29.4× | n/a | n/a |
| Hangzhou Lion Electronics 605358.SS | China | $3.55B | -25% | +24% | -1% | 6.7× | n/a | n/a |
| Diodes DIOD | United States | $3.56B | -31% | +18% | 5% | 2.0× | 34.0% | +3.8% |
| Suzhou Novosense Microlectronics 2676.HK | Hong Kong | $3.57B | -28% | +86% | -2% | 4.5× | n/a | n/a |
| Suzhou Novosense Microelectronics 688052.SS | China | $3.60B | -15% | +77% | -2% | 4.4× | n/a | n/a |
| Linktel Technologies 301205.SZ | China | $3.60B | -39% | +54% | 3% | 14.9× | n/a | n/a |
| Jiangsu X-chip Semiconductor Tech 301707.SZ | China | $3.40B | n/a | +55% | 41% | 33.4× | n/a | n/a |
| Nordic Semiconductor NOD.OL | Norway | $3.62B | -12% | +15% | 8% | 4.1× | n/a | n/a |
| Jiangsu JieJie Microelectronics 300623.SZ | China | $3.31B | -9% | +34% | 17% | 5.0× | 17.9% | +28.2% |
| Shenyang Fortune Precision Equipment 688409.SS | China | $3.28B | -2% | +34% | 4% | 5.4× | n/a | n/a |
| Soitec SOI.PA | France | $3.79B | -38% | -34% | -6% | 5.8× | 25.0% | +0.3% |
| Chipbond Technology 6147.TWO | Taiwan | $3.20B | -20% | +18% | 17% | 4.2× | n/a | n/a |
| Loongson Technology 688047.SS | China | $3.86B | -44% | +24% | -76% | 37.5× | n/a | n/a |
| Airoha Technology 6526.TW | Taiwan | $3.16B | +5% | +10% | 6% | 4.5× | 23.8% | +16.5% |
| Trina Solar 688599.SS | China | $3.90B | -36% | -3% | -9% | 0.9× | -4.3% | +17.9% |
| Shenzhen S.C New Energy Technology 300724.SZ | China | $3.12B | -36% | -67% | 8% | 1.8× | 7.6% | +30.8% |
| Rorze 6323.T | Japan | $3.11B | -24% | +10% | 27% | 3.1× | 14.3% | +20.4% |
| Xintec 3374.TWO | Taiwan | $3.08B | +88% | +17% | 23% | 12.1× | n/a | n/a |
| Allwinner Technology 300458.SZ | China | $4.02B | -25% | +26% | 15% | 7.5× | n/a | n/a |
| Chengdu Ultra Pure Applied Materials 301717.SZ | China | $4.03B | n/a | +93% | 42% | 50.3× | n/a | n/a |