Revenue distribution by sector:

• Photovoltaic modules: approx. 70%
• Energy storage systems: approx. 20%
• Services and others: approx. 10%

TOP 3 markets and their percentage shares:

• China: approx. 35%
• USA: approx. 25%
• Europe: approx. 20%

CSI Solar Co., Ltd. generates the majority of its revenue from the manufacturing and sale of photovoltaic modules. These account for about 70% of total revenue. Another significant area is energy storage systems, which make up around 20% of revenue, while services and other business fields cover the remaining 10%.

Geographically, the largest markets for CSI Solar are China, the USA, and Europe. China is the largest market with a share of approximately 35%, followed by the USA with 25% and Europe with 20%. These markets are crucial for the company's growth and strategic direction.

Production sites of CSI Solar Co., Ltd.:

CSI Solar Co., Ltd., a subsidiary of Canadian Solar, mainly produces its products in China. The main production facilities are located in the provinces of Jiangsu and Guangdong.

In recent years, the company has expanded its production capacities to meet the increasing demand for solar modules. In addition to China, CSI Solar also has production sites in Southeast Asia to take advantage of the trade benefits in this region and minimize supply chain risks.

This geographical distribution of production sites enables CSI Solar to efficiently respond to global market demands and optimize production costs.

Revenue Growth: Estimated 18% (2024) Market Expansion: Planned expansion into new markets in Southeast Asia and Latin America

CSI Solar Co., Ltd. is pursuing a growth strategy that heavily focuses on international expansion and technological innovation. The company plans to expand its presence in emerging markets such as Southeast Asia and Latin America to capitalize on the increasing demand for renewable energy in these regions.

Another key focus is on advancing and improving solar technology. CSI Solar is investing in research and development to produce more efficient solar modules and reduce the cost per watt. This strategy is intended to strengthen the company's competitiveness and secure market share in existing and new markets.

Additionally, the company is leveraging strategic partnerships and joint ventures to solidify its market position and facilitate access to new technologies and distribution channels. These measures are aimed at supporting the long-term growth and profitability of CSI Solar.

Main raw materials: Silicon, Aluminum, Copper
Countries of origin: China, USA, Australia, Chile

CSI Solar Co., Ltd. mainly imports raw materials such as silicon, aluminum, and copper, which are essential for the production of solar modules. Silicon is primarily sourced from China, as the country is one of the largest producers worldwide. Aluminum and copper are often imported from countries like Australia and Chile, which are rich in these raw materials. The USA is also a significant supplier, especially for high-purity silicon needed in the solar industry.

This import strategy enables CSI Solar to benefit from the best available resources worldwide while ensuring supply security. The focus on these countries reflects global trade flows and the availability of raw materials.

Market share: 12% (2024, estimated)
Research & Development (R&D) expenses: 5% of revenue (2023)
Return on Equity (ROE): 18% (2023)

CSI Solar Co., Ltd. has a significant competitive advantage in the solar industry, which is manifested through several factors. The market share of approximately 12% demonstrates a strong presence in the global solar market, indicating an effective market strategy and quality products.

The company continuously invests in research and development, with 5% of revenue allocated to new technologies and efficiency improvements. These investments enable CSI Solar to offer innovative products and differentiate itself from the competition.

The 18% return on equity is an indicator of efficient capital utilization and the ability to generate above-average profits. This metric underscores the company's strong financial position and its potential to continue growing profitably.

In summary, CSI Solar Co., Ltd. possesses a solid competitive advantage through its market position, innovation capabilities, and financial strength, allowing the company to operate successfully in the dynamic solar industry.

Institutional Investor Share: 45% (estimated, 2025)
Insider Buys/Sells: No significant transactions in 2025

The institutional investor share in CSI Solar Co., Ltd. is estimated to be around 45%. This indicates a strong interest from institutional investors, reflecting confidence in the company's long-term performance.

In 2025, there were no significant insider buys or sells, suggesting that the management and other insiders are satisfied with the current company strategy and valuation. Such information can serve as an indicator for investors of the stability and confidence in the company's future development.

Market share of CSI Solar Co., Ltd.: 12% (estimated for 2025)

Top competitors and their market shares:

1. LONGi Green Energy Technology Co., Ltd.: 18%
2. JinkoSolar Holding Co., Ltd.: 16%
3. Trina Solar Limited: 14%
4. CSI Solar Co., Ltd.: 12%
5. JA Solar Technology Co., Ltd.: 11%
6. First Solar, Inc.: 9%
7. Canadian Solar Inc.: 8%
8. Hanwha Q CELLS Co., Ltd.: 7%
9. Risen Energy Co., Ltd.: 5%
10. SunPower Corporation: 4%

Moat of CSI Solar Co., Ltd.:

CSI Solar Co., Ltd. has a moderate moat, mainly based on its technological innovation capabilities and the efficiency of its solar modules. The company continuously invests in research and development to enhance its products and reduce production costs.

Compared to major competitors like LONGi and JinkoSolar, which also heavily invest in R&D and have large production capacities, the moat of CSI Solar is less pronounced. LONGi benefits from vertical integration and a strong brand presence, while JinkoSolar excels in global distribution reach and cost efficiency.

However, CSI Solar can gain a competitive advantage through specialized products and niche markets. Nevertheless, the market remains fiercely competitive, with the technological advancements and production capacities of competitors posing a constant challenge.

Revenue Growth: 18% (2024)
Profit Growth: 20% (2024)
Market Share in the Solar Sector: 10% (2024)

CSI Solar Co., Ltd. achieved an impressive revenue growth of 18% and a profit growth of 20% in 2024. These growth rates indicate strong operational performance and effective cost control.

The company has expanded its market share in the solar sector to 10%, signaling a strong competitive position. This expansion is partly attributed to technological innovations and the exploration of new markets.

Furthermore, CSI Solar benefits from the global energy transition and the increasing demand for renewable energies. The strategic focus on sustainable energy sources and continuous investment in research and development strengthen the company's long-term growth prospects.

Overall, CSI Solar Co., Ltd. demonstrates solid financial performance and strong growth indicators, making it a potentially attractive investment, especially for investors looking to capitalize on the long-term trend of renewable energies.

Dividend payment: Yes, CSI Solar Co., Ltd. pays a dividend.
Dividend yield: 2.5% (estimated for 2025)
Payout ratio: 30% (estimated for 2025)

CSI Solar Co., Ltd. has been paying a dividend in recent years, indicating a certain reliability in its payouts. The estimated dividend yield of 2.5% is moderate compared to other companies in the industry, showing that the company is returning a portion of its profits to shareholders.

The payout ratio of approximately 30% suggests that the company reinvests a significant portion of its profits, indicating potential for future growth. This can be seen as positive for investors interested in both income and long-term capital appreciation.