Canadian Solar Subsidiary Files 2024 Preliminary Results

TL;DR

CSI Solar (subsidiary) dropped preliminary 2024 results on SSE. Keep an eye on this.

AI Summary

Canadian Solar Inc. (CSI) announced that its majority-owned subsidiary, CSI Solar Co., Ltd., has filed its preliminary results for 2024 with the Shanghai Stock Exchange. CSI Solar, listed on the SSE's Sci-Tech Innovation Board, is 63% owned by Canadian Solar. This filing provides an update on CSI Solar's performance for the fiscal year 2024.

Why It Matters

This filing provides investors with an early look at the financial performance of CSI Solar, a significant subsidiary, which can impact Canadian Solar's overall valuation and future outlook.

Risk Assessment

Risk Level: low — The filing is an informational update on preliminary results and does not appear to contain any new material risks or negative developments.

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's report was filed
• 63% (dollar_amount) — Canadian Solar's ownership stake in CSI Solar

FAQ

From the Filing

0001104659-25-017688.txt : 20250227 0001104659-25-017688.hdr.sgml : 20250227 20250227060451 ACCESSION NUMBER: 0001104659-25-017688 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20250227 FILED AS OF DATE: 20250227 DATE AS OF CHANGE: 20250227 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 STATE OF INCORPORATION: A6 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33107 FILM NUMBER: 25672590 BUSINESS ADDRESS: STREET 1: 4273 KING STREET EAST, SUITE 102 CITY: KITCHENER STATE: A6 ZIP: N2P 2E9 BUSINESS PHONE: 519-837-1881 MAIL ADDRESS: STREET 1: 66 WELLINGTON STREET WEST STREET 2: SUITE 4100 CITY: TORONTO STATE: A6 ZIP: M5K 1B7 6-K 1 tm257697d1_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 2025 Commission File Number: 001-33107 CANADIAN SOLAR INC. 4273 King Street East, Suite 102 Kitchener, Ontario, N2P 2E9 Canada (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 its report regarding preliminary results of 2024. Currently, Canadian Solar owns approximately 63% of CSI Solar. Exhibit 99.1 provides an English translation of the preliminary results of 2024 of 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 27, 2025 EXHIBIT INDEX Exhibit 99.1 — CSI Solar Co., Ltd. Preliminary Results For 2024 EX-99.1 2 tm257697d1_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 2024 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 2024 of CSI Solar Co., Ltd. (“the Company”) contained in this announcement is preliminary and unaudited. The data to be disclosed in the Company’s 2024 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 2024 Unit: Yuan RMB Item Current Reporting Period Same Period Last Year Increase/Decrease Over the Same Period Last Year (%) Operating revenue 46,160,811,035.57 51,309,560,777.53 -10.03 Operating profit 2,543,837,896.85 3,443,732,778.75 -26.13 Total profits 2,641,509,615.32 3,192,677,015.84 -17.26 Net profit attributable to the shareholders of the Company 2,290,919,406.46 2,903,374,460.39 -21.09 Net profit attributable to the shareholders of the Company after deducting non-recurring gains and losses 2,265,290,755.22 2,899,833,339.99 -21.88 Basic earnings per share 0.63 0.85 -25.88 Weighted average return on equity (%) 10.3