On the evening of August 21, 2025, Canadian Solar Inc., a globally leading provider of integrated solar and energy storage solutions, submitted its interim performance report for the first half of 2025.
I. Strong Financial Performance with Robust Growth Momentum
In the first half of 2025 (January–June), the company achieved operating revenue of RMB 21.052 billion. Revenue for the second quarter reached RMB 12.467 billion, representing a significant sequential increase of 45.2% compared to the first quarter.
Net profit attributable to shareholders of the listed company for the first half was RMB 731 million, while net profit excluding non-recurring gains and losses was RMB 836 million. Notably, the net profit excluding non-recurring items for the second quarter alone reached RMB 749 million, surging by over 700% compared to the first quarter.
During the reporting period, the company maintained healthy and robust operating cash flow, with net inflows amounting to RMB 3.78 billion—a substantial year-on-year increase of 157.95%. This provides a solid foundation for future technological R&D and global market expansion.
II. Synergistic Progress in Core Businesses, Reinforcing Global Leadership
1. Solar Modules: Solid Leading Position with Healthy Profitability
- Shipments: Global module shipments reached 14.8 GW in the first half.
- Market Distribution: The top three markets by shipment volume were China, North America, and Europe, highlighting the company’s balanced and high-quality global channel deployment.
- Industry Recognition: Recognized for excellent product quality and a reliable supply chain, the company was rated as a top global PV module manufacturer by Wood Mackenzie and honored as a “Top Performer” module supplier by Kiwa PVEL in 2025. The solar business maintained healthy gross margin levels.
2. Energy Storage Business: Explosive Growth as a Second Growth Driver with Strong Global Orders
The energy storage business has become a powerful growth engine for the company.
- Shipments and Growth: Energy storage shipments in Q2 reached 2.2 GWh, up more than 140% sequentially from Q1. Shipments in the first half totaled 3.1 GWh, a 20% increase year over year. The company’s cumulative global deliveries have surpassed the 13 GWh milestone. Driven by strong market demand, the company expects full-year energy storage shipments to reach 7–9 GWh.
- Order Backlog: As of June 30, 2025, the company’s energy storage order backlog amounted to USD 3 billion (approximately RMB 21.48 billion based on the exchange rate of 7.16 on June 30), providing strong visibility for sustained future growth.
