Canadian Solar Subsidiary CSI Solar Files H1 2024 Performance Update

TL;DR

CSI Solar (CSI) filed H1 2024 results, Canadian Solar (CSIQ) owns 62%.

AI Summary

Canadian Solar Inc. announced that its majority-owned subsidiary, CSI Solar Co., Ltd., filed a voluntary disclosure on performance for the first half of 2024. CSI Solar, listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board, is 62% owned by Canadian Solar.

Why It Matters

This filing provides insight into the financial performance of CSI Solar, a significant subsidiary, which could impact Canadian Solar's overall financial health and investor outlook.

Risk Assessment

Risk Level: low — The filing is an informational update from a subsidiary and does not appear to contain new material financial risks.

Key Numbers

• 62% — CSI Solar Ownership (Canadian Solar's majority stake in its subsidiary CSI Solar.)

Key Players & Entities

• Canadian Solar Inc. (company) — Filer and parent company
• CSI Solar Co., Ltd. (company) — Majority-owned subsidiary
• Shanghai Stock Exchange (company) — Exchange where CSI Solar is listed
• 62% (dollar_amount) — Canadian Solar's ownership stake in CSI Solar

FAQ

From the Filing

0001104659-24-080542.txt : 20240717 0001104659-24-080542.hdr.sgml : 20240717 20240717160102 ACCESSION NUMBER: 0001104659-24-080542 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240717 FILED AS OF DATE: 20240717 DATE AS OF CHANGE: 20240717 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: 241122187 BUSINESS ADDRESS: STREET 1: 545 SPEEDVALE AVENUE WEST CITY: GUELPH STATE: A6 ZIP: N1K 1E6 BUSINESS PHONE: 416-365-1110 MAIL ADDRESS: STREET 1: 66 WELLINGTON STREET WEST STREET 2: SUITE 4100 CITY: TORONTO STATE: A6 ZIP: M5K 1B7 6-K 1 tm2419457d1_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 July 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 a voluntary disclosure announcement on performance for the first half of 2024 (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: July 17, 2024 EXHIBIT INDEX Exhibit 99.1 — CSI Solar Co., Ltd. Voluntary Disclosure Announcement on Performance for the First Half of 2024 EX-99.1 2 tm2419457d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 SSE Stock Code: 688472	 SSE Stock Abbreviation: CSI Solar SSE Announcement Number: 2024-037 CSI Solar Co., Ltd. Voluntary Disclosure Announcement on Performance for the First Half of 2024 The board of directors of CSI Solar Co., Ltd. (the “Company” or “CSI Solar”) 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. I. Performance for the First Half of 2024 In the first half of 2024, by leveraging its strengths, adopting a rational strategy, adjusting tactics, and balancing with the development of its second primary business – battery energy storage solutions, CSI Solar maintained relatively good profitability. The Company expects the net profit attributable to the shareholders of the Company in the first half of 2024 to range from RMB1.20 billion to RMB1.40 billion. Similarly, the net profit attributable to the shareholders of the Company, excluding non-recurring gains and losses, is expected to be between RMB1.20 billion and RMB1.40 billion in the first half of 2024. The Company also expects the net profit in the second quarter of 2024 to continue increasing from that in the first quarter of 2024, wit