| Additional information - condensed financial statements of the Company |
34. Additional information — condensed financial statements of the Company
The separate condensed financial statements of JA Solar Holdings Co., Ltd. as presented below have been prepared in accordance with Securities and Exchange Commission Regulation S-X Rule 5-04 and Rule 12-04 and present the Company’s investments in its subsidiaries under the equity method of accounting as prescribed in ASC 323. Such investment is presented on the separate condensed balance sheets of the Company as “Investments in subsidiaries”. The condensed financial information of JA Solar Holdings Co., Ltd. has been presented for the period from January 1, 2015 to December 31, 2017.
The subsidiaries did not pay dividend to the Company for the period presented.
Except as disclosed in the consolidated financial statements as presented above, the Company did not have any significant contingency, commitment, long-term obligation, or guarantee as of December 31, 2017.
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For the year
ended
December 31,
2015
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For the year
ended
December 31,
2016
|
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For the year
ended
December 31,
2017
|
|
|
|
|
RMB
|
|
RMB
|
|
RMB
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
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|
—
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|
—
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|
—
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|
|
Total operating expenses
|
|
(65,233
|
)
|
(4,546
|
)
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(10,035
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)
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|
|
|
|
|
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Loss from operations
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|
(65,233
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)
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(4,546
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)
|
(10,035
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)
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|
Change in fair value of derivatives
|
|
39,593
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|
70,882
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|
—
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|
|
Share of income from subsidiaries
|
|
509,243
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|
449,078
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|
476,865
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|
|
Foreign exchange gain/(loss)
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|
140,110
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|
168,285
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|
(166,705
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)
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Income before income taxes
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|
623,713
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|
683,699
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|
300,125
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Net income
|
|
623,713
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|
683,699
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|
300,125
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Net income attributable to JA Solar Holdings
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|
623,713
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|
683,699
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|
300,125
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|
|
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Comprehensive income
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|
588,675
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|
639,182
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|
304,362
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December 31,
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December 31,
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|
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2016
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2017
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|
|
|
RMB
|
|
RMB
|
|
|
ASSETS
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Current assets:
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|
|
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Cash and cash equivalents
|
|
165
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|
3,544
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|
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|
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Total current assets
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165
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|
3,544
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Investments in subsidiaries
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3,274,607
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3,755,765
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Amount due from subsidiaries
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3,313,761
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3,038,249
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|
|
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Total assets
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|
6,588,533
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6,797,558
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LIABILITIES AND SHAREHOLDERS’ EQUITY
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Current liabilities:
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Accrued and other liabilities
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30,285
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31,629
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Total current liabilities
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30,285
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31,629
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Long-term amount due to subsidiaries
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97,118
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—
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Total liabilities
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127,403
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|
31,629
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Commitments and Contingencies
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Shareholders’ equity :
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Ordinary shares(US$0.0001 par value; 500,000,000 shares authorized, 237,853,602 and 237,926,352 shares issued and outstanding as of December 31, 2016 and December 31, 2017, respectively)
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|
176
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|
176
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Additional paid-in capital
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5,651,557
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5,651,994
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Retained earnings
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877,866
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1,177,991
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Accumulated other comprehensive loss
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(68,469
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)
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(64,232
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)
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Total shareholders’ equity
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6,461,130
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6,765,929
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Total liabilities and shareholders’ equity
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|
6,588,533
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6,797,558
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For the year
ended December
31, 2015
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For the year
ended December
31, 2016
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For the year
ended December
31, 2017
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RMB
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|
RMB
|
|
RMB
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|
|
Cash flows from operating activities:
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Net Income
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|
623,713
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|
683,699
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300,125
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Adjustments to reconcile net loss to net cash used in operating activities:
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Share-based compensation expense
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3,681
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|
420
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|
301
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Share of income from subsidiaries
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(509,243
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)
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(449,078
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)
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(476,865
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)
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Change in the fair value of derivatives
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|
(39,593
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)
|
(70,882
|
)
|
—
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Exchange (gain)/loss
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(150,686
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)
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(168,270
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)
|
159,499
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Changes in operating assets and liabilities:
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Decrease in other current assets
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2,257
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—
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—
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(Decrease)/increase in other payables to subsidiaries and employees
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|
10
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|
(6,374
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)
|
49
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Increase in accrued and other liabilities
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18,690
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|
141
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|
1,295
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Net cash used in operating activities
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(51,171
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)
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(10,344
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)
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(15,596
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)
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Cash flows from investing activities:
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Loans repayment by subsidiaries
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37,206
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9,416
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751,908
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Loans provided to subsidiaries
|
|
—
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—
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(640,988
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)
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Net cash provided by investing activities
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|
37,206
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9,416
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110,920
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Cash flows from financing activities:
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Proceeds from exercise of stock options
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1,196
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|
—
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—
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Proceeds from short-term loan from subsidiaries
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|
125,050
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—
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—
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Repurchase of ADS
|
|
(139,753
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)
|
—
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|
—
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|
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Repayment of long-term loan from subsidiaries
|
|
(1,583
|
)
|
—
|
|
(96,023
|
)
|
|
|
|
|
|
|
|
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Net cash used in financing activities
|
|
(15,090
|
)
|
—
|
|
(96,023
|
)
|
|
|
|
|
|
|
|
|
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Effect of exchange rate changes on cash and cash equivalents
|
|
902
|
|
23
|
|
4,078
|
|
|
|
|
|
|
|
|
|
|
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Net decrease in cash and cash equivalents
|
|
(28,153
|
)
|
(905
|
)
|
3,379
|
|
|
|
|
|
|
|
|
|
|
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Cash and cash equivalents at the beginning of the year
|
|
29,223
|
|
1,070
|
|
165
|
|
|
|
|
|
|
|
|
|
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Cash and cash equivalents at the end of the year
|
|
1,070
|
|
165
|
|
3,544
|
|
|
|
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