ORGANIZATION AND PRINCIPAL ACTIVITIES |
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ORGANIZATION AND PRINCIPAL ACTIVITIES |
1. ORGANIZATION AND PRINCIPAL ACTIVITIES
The accompanying consolidated financial statements include the financial statements of JA Solar Holdings Co., Ltd. (the “Company”), and its subsidiaries, collectively referred to as the “Group”.
JA Solar Holdings Co., Ltd. was incorporated in the Cayman Islands on July 6, 2006. In February 2007, the Company’s ADS became listed on the NASDAQ Global Market in the United States. The Group is primarily engaged in the development, production and marketing of high-performance solar power products, and sales of electricity produced by the solar power plants.
In November 2011, the Company completed the acquisition of 100% equity interest of Silver Age Holdings Limited (“Silver Age”), of which Full Shine Holdings Limited (“Full Shine”) and Solar Silicon Valley Electronic Science and Technology Co., Ltd. (“Solar Silicon Valley”) are 100% owned subsidiaries. Thereafter, Silver Age, Full Shine and Solar Silicon Valley became wholly owned subsidiaries of the Company.
In January 2013, the Company completed the acquisition of 65% equity interest of Hebei Ningjin Songgong Semiconductor Co., Ltd. (“Ningjin Songgong”). As of December 31, 2016, Ningjin Songgong was liquidated and the assets and liabilities of Ningjin Songgong have been adjusted to liquidation value, with no gain or loss impact on the consolidated statements of operations and comprehensive income. The net assets attributable to the non-controlling interest party were reclassified as payables accordingly (Refer to Note 17 Other payables to third parties).
In March 2011, the Company entered into a joint venture agreement with MEMC Singapore to form a jointly-owned company named JA MEMC (Yangzhou) Solar Technology Company Ltd. (“JA MEMC”). In June 2014, the Company completed the acquisition of 50% of JA MEMC’s total equity interests held by MEMC Singapore. Thereafter, JA MEMC became wholly owned subsidiary of the Company. Subsequently, JA MEMC’s assets were transferred to JA Yangzhou and JA MEMC was dissolved in December 2014.
In June 2016, the Company completed the acquisition of 100% equity interest of Jiuzhou Fangyuan New Energy (Yichang) Co., Ltd. (“Jiuzhou Yichang”) (Refer to Note 3(b) Acquistition of Jiuzhou Yichang).
Majority of the Group’s business is conducted through the operating subsidiaries established in the PRC, JingAo Solar Co., Ltd. (“JA Hebei”), JA Solar Technology Yangzhou Co., Ltd. (“JA Yangzhou”), Shanghai JA Solar Technology Co., Ltd. (“JA Fengxian”), Hefei JA Solar Technology Co., Ltd. (“JA Hefei Technology”), Solar Silicon Valley Electronic Science and Technology Co., Ltd. (“Solar Silicon Valley”), Jing Hai Yang Semiconductor Materials (Donghai) Co., Ltd. (“JA Lianyungang”), JA Solar Malaysia Sdn. Bhd., Dunhuang JA Solar Power Development Co., Ltd. (“JA Dunhuang”), Jingneng New Energy Development (Lincheng) Co., Ltd. (“Lincheng Jingneng”), JA Solar PV Electric (Datong) Co., Ltd. and Jiuzhou Fangyuan New Energy (Xinjiang) Co., Ltd. (“Jiuzhou Xinjiang”) in which the Company indirectly holds a 100% interest.
As of December 31, 2016, the Company’s principal subsidiaries include the following entities:
As of December 31, 2016, the Company’s principal subsidiaries include the following entities (continued):
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