Canadian Solar Subsidiary CSI Solar Files Preliminary Unaudited FY Results

TL;DR

**Canadian Solar's main subsidiary, CSI Solar, just filed its preliminary full-year financials with the Shanghai Stock Exchange.**

AI Summary

Canadian Solar Inc. (CSI) announced on February 28, 2024, that its majority-owned subsidiary, CSI Solar Co., Ltd., which is listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, has filed preliminary unaudited financial results for the full year with the SSE. This 6-K filing by Canadian Solar Inc. serves to report this development to the SEC, indicating the ongoing financial reporting activities of its key subsidiary.

Why It Matters

This filing provides transparency into the financial reporting of Canadian Solar's key subsidiary, CSI Solar, which could impact Canadian Solar's overall valuation and investor sentiment.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of a subsidiary's financial reporting, not indicating any immediate negative or positive financial event for the parent company.

Key Players & Entities

• Canadian Solar Inc. (company) — registrant and parent company
• CSI Solar Co., Ltd. (company) — majority-owned subsidiary
• Shanghai Stock Exchange (company) — exchange where CSI Solar is listed
• February 2024 (date) — month of report
• 001-33107 (other) — Commission File Number

FAQ

From the Filing

0001104659-24-028429.txt : 20240228 0001104659-24-028429.hdr.sgml : 20240228 20240228061628 ACCESSION NUMBER: 0001104659-24-028429 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240228 FILED AS OF DATE: 20240228 DATE AS OF CHANGE: 20240228 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Canadian Solar Inc. CENTRAL INDEX KEY: 0001375877 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33107 FILM NUMBER: 24690040 BUSINESS ADDRESS: STREET 1: 545 SPEEDVALE AVENUE STREET 2: WEST GUELPH CITY: ONTARIO STATE: A6 ZIP: N1K 1E6 BUSINESS PHONE: (86-512) 6690-8088 MAIL ADDRESS: STREET 1: NO. 199 LUSHAN ROAD, SUZHOU NEW DISTRICT STREET 2: SUZHOU CITY: JIANGSU STATE: F4 ZIP: 215129 6-K 1 tm247461d1_6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________ FORM 6-K _______________________ REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2024 Commission File Number: 001-33107 _______________________ CANADIAN SOLAR INC. _______________________ 545 Speedvale Avenue West, Guelph, Ontario, Canada N1K 1E6 (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨ CANADIAN SOLAR INC. Form 6-K TABLE OF CONTENTS Explanatory Note Signature Exhibit Index Exhibit 99.1 Explanatory Note CSI Solar Co., Ltd. (“CSI Solar”), a majority-owned subsidiary of Canadian Solar Inc. (“Canadian Solar”) with its shares listed on the Shanghai Stock Exchange (“SSE”)’s Sci-Tech Innovation Board, has filed with the SSE an announcement of preliminary unaudited financial results for the full year 2023 (the “Announcement”). Currently, Canadian Solar owns approximately 62% of CSI Solar. Exhibit 99.1 provides an English translation of the Announcement for CSI Solar. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. CANADIAN SOLAR INC. By: /s/ Shawn (Xiaohua) Qu Name: Shawn (Xiaohua) Qu Title: Chairman and Chief Executive Officer Date: February 28, 2024 EXHIBIT INDEX Exhibit 99.1 — CSI Solar Co., Ltd. Announcement of Preliminary Financial Data for the Full Year 2023 EX-99.1 2 tm247461d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 SSE Stock Code: 688472 SSE Stock Abbreviation: CSI Solar CSI Solar Co., Ltd. Preliminary Results For 2023 The board of directors of CSI Solar Co., Ltd. (the “Company”) and all members of the board of directors guarantee that the information of this public announcement contains no misrepresentations, misleading statements or material omissions, and they are legally responsible for the truthfulness, accuracy and completeness of the information contained herein. The key financial data for 2023 of CSI Solar Co., Ltd. (“the Company”) contained in this announcement are preliminary and unaudited. The data to be disclosed in the Company’s 2023 annual report shall prevail as final. Investors are advised to take note of investment risks. 1. Key Financial Data and Metrics for the Full Year 2023 Unit: ‘0000 Yuan RMB Item Current Reporting Period Same Period Last Year Increase/Decrease Over the Same Period Last Year (%) Operating revenue 5,130,956.08 4,753,608.67 7.94 Operating profit 345,786.72 250,805.31 37.87 Total profits 320,182.48 261,873.91 22.27 Net profit attributable to the shareholders of the Company 290,325.17 215,685.09 34.61 Net profit attributable to the shareholders of the Company after deducting non-recurring gains and losses 290,300.61 206,15