JA Solar Technology Co Ltd (002459) Fair Value & Analysis
Technology · CN · Market cap 28.8B CNY (≈ $4.3B) · ISIN CNE100000SD1
What is JA Solar Technology Co Ltd really worth?
Below-average quality, and trading another 103% above our fair value of ¥3.32.
Risks
Fair value as of: Sep 3, 2026
From 4 valuation models · updated yesterday
Share price −13.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (¥4.92). The favourable scenario is already priced in.
- Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (¥1.72 to ¥4.92). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.
How to read this chart
60‑month range ¥6.71 – ¥56.13 · fair‑value band ¥1.72 – ¥4.92 · the ¥6.73 price screens above the ¥3.32 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 3, 2026.
Analysis
JA Solar Technology Co Ltd (002459) currently trades at ¥6.73, while our model-based Fair Value estimate is ¥3.32, implying the stock looks roughly 102.7% overvalued today. The Quality Score stands at 29/100 (below-average quality), in the Technology sector. Bull case: the Multiples group reads highest at a median of ¥6.06 per share, and 0 of the 4 models we run sit above the ¥6.73 price. Bear case: the Dividend Discount group reads lowest at ¥3.34, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, JA Solar Technology Co Ltd generated revenue of 47.7B CNY at a net margin of −8.5%. Revenue declined 13.6% year over year. It earns a return on equity of −17.0%. Net debt stands at 10.2B CNY. Fundamentals as of Sep 3, 2026
Our scenario range runs from ¥1.72 (bear case) to ¥4.92 (bull case); at ¥6.73, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 57% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at −51%, 002459 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 4 models by family
Widest divergence: Multiples (¥6.06) versus Dividend Discount (¥3.34). Highest evidence: EV/EBITDA (67).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 29 · Market factors (momentum, volatility) 21
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
JA Solar Technology Co., Ltd. engages in the production and processing of monocrystalline silicon rods and wafers in Europe, Africa, China, the United States, Asia, Oceania, and internationally.
Full company description
JA Solar Technology Co., Ltd. engages in the production and processing of monocrystalline silicon rods and wafers in Europe, Africa, China, the United States, Asia, Oceania, and internationally. The company offers PV modules; energy storage products; and PV materials, including single crystal furnace, graphites, stencil, PV paste, EVA film, aluminium frame, junction box, and carbon/carbon composite materials. It also provides large-scale power plant solutions, including conventional centralized PV power plants, agri voltaics, floating solar PV power plants, and other forms; multi-energy power plants with wind and solar storage, source-grid-load-storage integrated power plants, and other energy solutions. In addition, the company offers Distributed Commercial Solutions; Household PV System solutions; smart energy management platform; and BESS solutions. JA Solar Technology Co., Ltd. was founded in 2000 and is based in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
JA Solar Technology Co Ltd reported revenue of 49.1B CNY in FY2025 versus 41.3B CNY in FY2021, a compound +4.4%/yr. Reported net income was −4.6B CNY in FY2025.
002459 screens 103% overvalued. Compare with First Solar, Inc →
Peer Group
Solar · 109 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Solar median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Solar stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| First Solar, Inc FSLR | $210.10 | $392.12 | +87% |
| Nextpower Inc NXT | $103.67 | $69.61 | −33% |
| Waaree Energies Limited WAAREEENER | ₹2,624 | ₹2,709 | +3% |
| Tongwei Co 600438 | ¥12.89 | ¥12.13 | −6% |
| Jinko Solar Co 688223 | ¥4.16 | ¥6.47 | +56% |
| Enphase Energy, Inc ENPH | $39.25 | $24.15 | −38% |
| CSI Solar Co 688472 | ¥10.28 | ¥6.76 | −34% |
| Hengdian Group 002056 | ¥21.53 | ¥31.86 | +48% |
| Premier Energies Limited PREMIERENE | ₹1,017 | ₹648.94 | −36% |
| Trina Solar Co 688599 | ¥12.77 | ¥7.97 | −38% |
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