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Demand for Solar Panels Picking Up, Chinese Firms Say

Nov 29, 2012
Source: 
(AP)

Shares of solar cell and module providers rose Wednesday, after JA Solar and Yingli Energy both reported another quarter of losses, but said they think Chinese demand for their products is picking up.

Solar companies have struggled this year amid tough economic conditions that have sent demand for their products down. At the same time, heavy competition has forced them to cut prices.

On Wednesday JA Solar Holdings Co. said its third-quarter loss narrowed to $59.1 million, or 30 cents per American depositary share. Revenue fell 9 percent to $260.9 million. Analysts polled by FactSet expected a loss of 20 cents per share on $248.2 in revenue.