JA
Solar Appoints New Chief Operating Officer and Independent Director
HEBEI,
China, July 10, 2008 -- JA Solar Holdings Co., Ltd. ("JA Solar", "the Company")
(Nasdaq:JASO) today announced the appointment of Dr. Elmer Hsu as Chief
Operating Officer. Dr. Hsu will be replacing Dr. Kang Sun and will
assume the role of new COO effective August 1, 2008
Dr. Hsu
has been an independent director of JA Solar's board since September,
2007. He will continue to serve as a director on the board but will
no longer be designated as an independent director. Dr. Hsu brings to
JA Solar over 30 years of executive experience in operations, technology
research & development, and technology management at large global
corporations, such as Hughes Electronics Company and Lockheed Electronics
Company. Dr. Hsu received his Ph.D. degree and master’s degree
in mathematics & statistics from the University of Louisiana.
"I am
very pleased to welcome Dr. Hsu to our management team," said Samuel Yang, Chief
Executive Officer. "His experience and expertise in managing global companies
will be key contributing factors as we move forward in support of our long-term
prospects. Dr. Hsu’s primary responsibility will be to enhance and
implement world-class management & business processes and thus further
strengthen JA Solar’s competitive advantage as the cost and quality leader in
our industry.”
Dr. Hsu
commented, “I look forward to delivering results while bringing critical
management skills to enhance business processes and controls for this young,
dynamic company. We are committed to delivering value to our
employees, customers, community, and shareholders”.
Concurrently,
the Company announced that the Board of Directors of JA Solar has accepted Dr.
Kang Sun’s resignation as President, Chief Operating Officer and board director
to pursue other interests.
Samuel
Yang added, "The board has accepted Dr. Sun's resignation and wants to thank him
for his service in the last ten months."
The
Company also announced the appointment of Robert Jih-chang Yang, Ph.D. as an
independent director of the board, effective July 9, 2008.
Dr.
Yang has over 30 years of corporate experience in technology research and
management. His most recent positions include senior advisor to the
Chairman and CEO of SESODA, a publicly-listed company in Taiwan, on strategic,
technological, and new ventures. Prior to that, Dr. Yang held senior
management positions at various public and private technology companies and
research institutes such as CEO of Hong Kong Applied Science and Technology
Research Institute Co. Ltd., vice-president & general director at Energy and
Resources Laboratories (ERL), Industrial Technology Research
Institute. Dr. Yang began his career at General Electric Company as a
researcher. Dr. Yang received his Ph.D. degree in mechanical
engineering from the University of Washington and a bachelor of science degree
in mechanical engineering from National Taiwan University. He also
completed an advanced management program at Harvard Business
School.
“We are
very pleased to be adding someone of Mr. Yang’s stature and experience to JA
Solar’s board,” said Samuel Yang. “Mr. Yang’s depth of technological
expertise and technology management experience will be invaluable to our
company.”
About
JA Solar Holdings Co., Ltd.
Based
in Hebei, China, JA Solar Holdings Co., Ltd. is an emerging and fast-growing
manufacturer of high-performance solar cells. The Company sells its products to
solar module manufacturers who assemble and integrate its solar cells into
modules and systems that convert sunlight into electricity. For more
information, please visit http://www.jasolar.com.
Safe
Harbor Statement
This
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, including statements regarding
the proposed offerings, the use of the net proceeds from the notes offering, the
effect of the capped call transactions and the belief that the borrowed ADSs
will not be considered outstanding for the purpose of computing and reporting
earnings per ADS. These forward-looking statements involve risks and
uncertainties. Factors that could cause actual events to differ materially from
those predicted in such forward-looking statements include market conditions,
potential fluctuations in the price of JA Solar's ADSs, management's broad
discretion over the use of the net proceeds of the notes offering, or changes in
U.S. generally accepted accounting principles or in their interpretation.
Certain of these risks and others are detailed from time to time in JA Solar's
reports filed with the Securities and Exchange Commission, including, but not
limited to, its annual report on Form 20-F for the year ended December 31,
2007.
CONTACT:
JA
Solar
Victoria
Yuan
Director
of Investor Relations
+86-21-6095-5981
ir@jasolar.com
The
Ruth Group
John
Robertson
+1-646-536-7024
jrobertson@theruthgroup.com