34.61%! Canadian Solar Expects Net Profit to Rise in 2023

PVTIME – Canadian Solar, a leading provider of solar PV solutions, recently released its estimated financial results for the fiscal year 2023.

Canadian Solar is estimated to achieve total revenue of 51.31 billion yuan in 2023, an increase of 7.94% year on year, while net profit attributable to shareholders of listed companies will be approximately 2.903 billion yuan, an increase of 34.61% year on year.

For the performance growth in the reporting period, Canadian Solar said that the main reason was the growth of PV module and system product sales, which benefited from the optimisation of its integrated production capacity structure and the decline in overall cost.

In addition, Canadian Solar stated on 8 March 2024 that its core products for 2024 will be n-type TOPCon products. And it expects the total volume of module shipments to be 42GW to 47GW, while the shipments of energy storage systems for large-scale plants will be 6GW to 6.5GW, with North America as the main shipping region. Canadian Solar is confident in its performance in 2024, given its history of sustained and healthy growth, particularly its management and control of risk through more than 20 years of cyclical industry fluctuations.