PVTIME – On 17 July 2024, CSI Solar Co., Ltd. (CSI Solar,688472.SH), a China-based subsidiary of Canadian Solar, released its earnings guidance for the first half of 2024.
CSI Solar expects to achieve net profit of 1.2 billion yuan to 1.4 billion yuan in the first half of 2024, representing an increase of 7% to 42% compared with the second half of 2023. And it is estimated to achieve net profit of 1.2 billion yuan to 1.4 billion yuan after deducting non-net profit.
In the reporting period, CSI Solar shipped 6.3GW of modules, up 3.28% year on year, of which the North American market accounted for more than 20%. Module shipments in the second quarter of 2024 are expected to be around 8GW, an increase of 27% compared to the first quarter of 2024.
In order to maintain CSI Solar’s operational stability and financial health, the company is mainly balancing price and shipments by reducing some PV product shipments, especially abandoning some loss-making orders. Meanwhile, CSI Solar maintains its leading position through continuous R&D investment, technological innovation and systematic patent layout. In addition, its long-term sustainable development has been achieved by strengthening cost management through a series of technological innovations and lean management.
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