PVTIME – On 21 August, Canadian Solar released its half-year financial results for 2025, reporting first-half revenue of 21.052 billion yuan. Second-quarter performance was particularly notable, with revenue reaching 12.467 billion yuan, a 45.2% increase on the previous quarter. The company also posted a net profit of 731 million yuan for the first half of the year, attributable to listed shareholders, while non-recurring net profit (excluding extraordinary items) reached 836 million yuan. Notably, the second-quarter’s non-recurring net profit alone surged to 749 million yuan, representing a significant quarter-on-quarter increase of over 700%.
In the photovoltaic segment, Canadian Solar prioritises profitability and has proactively adjusted its shipment schedule to navigate industry volatility. First-half module shipments remained consistent with those of the same period last year, and the PV business maintained a healthy gross profit margin thanks to its focus on high-margin markets. The firm has taken deliberate steps to limit production in order to protect prices, thereby aligning with and implementing anti-intense competition policies. It forecasts that third-quarter module shipments will be between 5.0 and 5.3 GW, with full-year module shipments expected to reach between 25 and 27 GW. Canadian Solar plans to strengthen its market share further by leveraging its technological leadership and global distribution networks.
The energy storage business, positioned as the company’s second growth pillar, showed robust momentum during the reporting period. With pre-existing order backlogs and expanded production capacity driving growth, second-quarter energy storage deliveries reached 2.2 GWh, an increase of over 140% compared to the previous quarter. By the end of the reporting period, Canadian Solar had signed contracts for energy storage systems valued at 3 billion US dollars, providing a solid foundation for future growth. The company projects that third-quarter energy storage shipments will be between 2.1 and 2.3 GWh, with full-year shipments set to reach between 7 and 9 GWh. The energy storage business continues to lead the industry in gross profit margin, thus reinforcing its position as a key driver of the company’s profit growth.
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