Jan 14 JA Solar Holdings Co Ltd said
its chairman and former chief executive, Baofang Jin, will
return to the helm, three years after stepping down from the
Jin, the company's chief executive from August 2009 to
January 2010, will replace Peng Fang, whose three-year term as
CEO will end on Jan. 20.
Jin returns to the top job at JA Solar at time a when solar
companies have been battered by a sharp fall in panel prices due
to global oversupply.
Chinese solar companies also face import duties in the
United States and the possibility of similar tariffs in Europe.
JA Solar shares, which traded at around $21.00 in January
2010 when Jin quit as CEO, closed at $5.59 on Friday.
However, things are looking up for Chinese solar companies
due to a raft of measures unveiled by the Asian country to
support the ailing domestic solar industry. China said last week
it would more than double its installed solar power capacity
this year from 2012 levels.
JA Solar's stock has risen about 42 percent in the last
Jin has served as JA Solar's chairman since May 2005 and
executive chairman of the board since July 2009.