On March 26, Canadian Solar Inc. announced its financial report for the fourth quarter and the full year of 2019.
The Canadian financial report shows that the company's sales in the fourth quarter of 2019 were US $ 920 million (about 6.473 billion yuan), which was higher than the third quarter sales of US $ 760 million (about 5.324 billion yuan). RMB), achieving a gross profit of 230 million US dollars (approximately 1.618 billion yuan, including 6.4 million US double tax rebates), a gross profit margin of 25.0%, and a net profit of 67.7 million US dollars ( (About 476 million yuan).
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In terms of shipments, Canadian Solar has shipped 2.5GW of solar module products to more than 60 countries worldwide in the fourth quarter of 2019. This was higher than the 2.4 GW component shipments in the third quarter. Among them, the shipment of polycrystalline modules accounted for 68%, and the shipment of monocrystalline modules accounted for 32%.
The announcement shows that Canadian Solar achieved sales of US $ 3.2 billion (approximately 22 billion yuan) and net profit of US $ 171.6 million (approximately 1.182 billion yuan) in 2019. The cash flow generated by the event was approximately US $ 600 million (approximately RMB 4.134 billion), and in 2018 it was approximately US $ 216.3 million (approximately 1.491 billion RMB), an increase of 177%.
In terms of shipments, in the whole year of 2019, Canadian Solar has shipped a total of 8.6GW of solar module products to more than 90 countries around the world, which is higher than the 6.6GW of solar module shipments for the full year of 2018. The volume of goods accounted for 74%, and the volume of monocrystalline solar panels accounted for 26%.
Canadian Solar said that as of January 31, 2020, Canadian Solar held a total of utility-scale solar power plants operating around the world with a total volume of approximately 880.2 MW, with an estimated resale value of US $ 1 billion (about 70 Billion yuan).
As of January 31, 2020, Canadian Solar 's total power plant project reserves in the early to mid-term stage are about 11.7 GW. Including North America 5,232 MW, Latin America 3,246 MW, EMEA (Europe, Middle East and Africa) 2,113 MW, Asia Pacific 676 MW and China 410 MW. Canadian Solar's total solar power station projects (including projects under construction) in the late stage of development are about 3.7GW. Including North America 1,597 MW, Latin America 1,087 MW, EMEA (Europe, Middle East, Africa) 206 MW, Asia Pacific 806 MW and China 45 MW.
Except for the reserve of utility-scale solar photovoltaic power stations, as of January 31, 2020, the total number of solar power plants in operation by Canadian Solar is approximately 1,023 MW, including: 216 MW in North America, 100 MW in Latin America, EMEA (Europe, Middle East and Africa) region 18 MW, Asia Pacific 230 MW, China 459 MW.
After years of development, Canadian Solar has the ability to produce mono poly solar modules, and has a strong flexibility in capacity layout. The adjustment of the company's production capacity structure depends on the consideration of the profitability of the product itself and the cost-effectiveness of the LCOE.
Throughout 2019, the production capacity of Canadian Solar's silicon ingots, wafers, cells and modules has reached 1,850 MW, 5,000 MW, 9,600 MW and 13,040 MW, respectively. The company will continuously adjust its capacity expansion plan according to market conditions. It is expected that by the end of 2020, the company's solar module capacity will reach 16,050 MW.
Since 2018, Canadian Solar has been active in the Italian unsubsidized solar market, and recently, Canadian Solar' layout in Italy has been quite frequent.
On March 17, 2020, Canadian Solar issued a news announcement that the company received a 55 million euro (about 425 million yuan) bilateral revolving credit line provided by Intesa Sanpaolo, Italy, for Canadian Solar. Construction of a 151MW solar power plant portfolio project in Italy.
Construction of the first batch of power stations in the project portfolio is expected to begin in the third quarter of 2020.
Looking into the future, Canadian Solar predicts that solar panel shipments in the first quarter of 2020 will be about 2.15GW to 2.25 GW, of which about 250 MW modules will not be included in the first quarter sales revenue due to the company's own power station construction. Sales are expected to be US $ 780 million to US $ 810 million. Gross profit margin is expected to be 26% -28% in the first quarter.
Canadian Solar estimates that module shipments for the full year of 2020 will be about 10 GW to 12 GW, and annual sales are expected to be $ 3.4 billion to $ 3.9 billion.
Posted by Julie Huang of BlueSolaria
Blue Solaria is a leading solar panel manufacturer in China. Dedicated to the design, engineering, manufacturing and sales of small solar panels since 2005.
https://www.bluesolaria.com
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