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<SEC-DOCUMENT>0000950123-10-055388.txt : 20100603
<SEC-HEADER>0000950123-10-055388.hdr.sgml : 20100603
<ACCEPTANCE-DATETIME>20100603070312
ACCESSION NUMBER:		0000950123-10-055388
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100603
FILED AS OF DATE:		20100603
DATE AS OF CHANGE:		20100603

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Canadian Solar Inc.
		CENTRAL INDEX KEY:			0001375877
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33107
		FILM NUMBER:		10874421

	BUSINESS ADDRESS:	
		STREET 1:		675 COCHRANE DRIVE, EAST TOWER
		STREET 2:		6TH FLOOR
		CITY:			MARKHAM
		STATE:			A6
		ZIP:			L3R 0B8
		BUSINESS PHONE:		(85-512) 6690-8088

	MAIL ADDRESS:	
		STREET 1:		NO. 199 LUSHAN ROAD, SUZHOU NEW DISTRICT
		STREET 2:		SUZHOU
		CITY:			JIANGSU
		STATE:			F4
		ZIP:			215129
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>h04285e6vk.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e6vk</TITLE>
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Form&nbsp;6-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>REPORT OF FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>For the month of June&nbsp;2010</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Commission File Number: 001-33107</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>CANADIAN SOLAR INC.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>No.&nbsp;199 Lushan Road<BR>
Suzhou New District<BR>
Suzhou, Jiangsu 215129<BR>
People&#146;s Republic of China<BR>
(Address of principal executive offices)</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F.
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Form&nbsp;20-F&nbsp;<FONT style="font-family: Wingdings">&#254;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(1): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation&nbsp;S-T Rule&nbsp;101(b)(7): <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Indicate by check mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under the
Securities Exchange Act of 1934.
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Yes&nbsp;<FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT style="font-family: Wingdings">&#254;</FONT>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in connection with
Rule&nbsp;12g3-2(b): 82- <U>N/A</U>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">CANADIAN SOLAR INC.<BR>
Form&nbsp;6-K<BR>
TABLE OF CONTENTS
</DIV>

<DIV align="left">
<A name="toc"></A>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="83%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#101">Signature
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#102">Exhibit&nbsp;Index</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:15px"><A href="#103">Exhibit&nbsp;99.1 &#151; Press Release</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left">
<A name="101"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURE
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">CANADIAN SOLAR INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Shawn (Xiaohua) Qu
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Shawn (Xiaohua) Qu&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD nowrap align="left">Chairman, President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Date: June&nbsp;3, 2010
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">



<DIV align="left">
<A name="102"></A>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">EXHIBIT INDEX
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="79%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;99.1 &#151; Press Release
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>h04285exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1 - PRESS RELEASE
<TEXT>
<HTML>
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<TITLE>exv99w1</TITLE>
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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left">
<A name="103"></A>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="h04285h0428501.gif" alt="(CANADIAN SOLAR COMPANY LOGO)">
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Canadian Solar Updates 1Q10 Performance;<BR>
Postpones June 2 Quarterly Call</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Ontario, Canada, June&nbsp;1, 2010 </B>&#151; Canadian Solar Inc. (the &#147;Company,&#148; &#147;we&#148; or &#147;Canadian Solar&#148;)
(NASDAQ:CSIQ), one of the world&#146;s largest solar companies, today updated its 1Q 2010 performance
and guidance for 2Q 2010 and the second half of 2010. The Company has postponed the release of its
full financial results for the first quarter ended March&nbsp;31, 2010 and its quarterly conference
call, scheduled for June&nbsp;2, as a result of the commencement of an investigation by the Audit
Committee of the Company&#146;s Board of Directors. While the investigation is ongoing, the Company is
updating preliminary first quarter operating results.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The investigation was launched after the Company received a subpoena from the Securities and
Exchange Commission (&#147;SEC&#148;) requesting documents from the Company relating to, among other things,
certain sales transactions in 2009. The Audit Committee has retained outside counsel and
independent forensic accountants to assist in reviewing, among other things, the transactions
described in the subpoena. The Company has been, and intends to continue, fully cooperating with
the SEC.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Preliminary First Quarter Operating Results</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company shipped an estimated 186.4 MW of modules during Q1 2010.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>4Q09 and FY09 Revisions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company may revise the 4Q09 net revenues numbers due to the company&#146;s intention to recognize
sales only after receiving full cash payments from certain customers and due to certain subsequent
return of goods after the quarter end. These sales transactions are deferred to Q1 and Q2 of 2010.
Full year 2009 net revenues may be revised accordingly.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1Q10 shipments were to all of the principal geographic markets for the solar industry, with Europe
continuing to be the Company&#146;s largest market. Shipments to that region grew very strongly in the
quarter, partially due to increased demand ahead of Germany&#146;s proposed feed-in-tariff reduction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dr.&nbsp;Shawn Qu, Chairman and CEO of Canadian Solar, commented: &#147;Market demand was very strong in the
first quarter. We reached record-high shipment levels in Q1, which we believe demonstrates the
success of our diversified sales channels and our strong brand name recognition. Our performance
also reflects the advantage of our flexible vertical integration model, which allowed us to quickly
tap our suppliers in order to capture sales opportunities. On the other hand, the unexpected
depreciation of the Euro combined with a higher ratio of external purchased cells put pressure on
our margins. We have taken steps to stabilize and improve our margin structure. These steps include
the following:
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif">




<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have implemented a more robust foreign currency hedging plan, raising our hedging level
to more than 90% of our expected Q2 cash flow. We are now hedging well into Q3.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We are on track to expand our internal cell capacity from the current 420MW to 700MW.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We intend to commence ramping up our new cell lines on July 1<SUP style="font-size: 85%; vertical-align: text-top">st</SUP> and complete the
ramping up process in September;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have successfully revamped our ingot and wafer plant and expect it to contribute
positively to our P&#038;L in 2Q10;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We will take advantage of our global market profile and increase sales in non-Euro
currencies.&#148;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dr.&nbsp;Qu continued: &#147;Canadian Solar plans to be proactive in our hedging practices as we work to
mitigate the impact of continued currency volatility. We have hedged a very large percentage of our
expected Euro exposure for 2Q10 and 3Q10. This will improve our earnings visibility and mitigate
some of the near term impact of foreign exchange on our financial performance. We had a high
customer concentration in Germany in 1Q10 and early 2Q10 in order to help customers to meet their
project deadlines as much as possible. However, Canadian Solar has a well-diversified global
customer profile and we have now started to shift our focus to non-German customers and conduct
U.S. dollar-denominated sales with certain European customers. We expect to realize a higher
percentage of our sales in non-Euro currencies starting this June. We are also evaluating other
natural hedges, including Euro-denominated purchases of polysilicon and wafers. We expect purchase
prices for wafer and cell to be slightly higher in 2Q10 compared with 1Q10, while polysilicon
prices appear to be stable. We have increased Euro module prices in 2Q10 slightly to adjust for
this.&#148;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Operations Update</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Conversion Efficiency</I>: We began commercial manufacturing of enhanced selective emitter
(&#147;ESE&#148;) modules in March&nbsp;2010. We have shipped over 3.0 MW of ESE modules to date.
Conversion efficiencies have approached 18% in initial production runs. We expect to
increase our ESE cell production capacity to 120 MW by the end of the third quarter.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Module Capacity</I>: We increased our module production capacity from 820 MW at the end of
2009 to 1.3 GW at the end of May&nbsp;2010.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Cell Capacity</I>: We currently have 420 MW of internal solar cell production capacity. We
expect to reach 700 MW of internal solar cell production capacity by September&nbsp;2010.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Ingot and Wafer Capacity</I>: Our internal ingot and wafer operation stopped incurring
losses in 1Q10. The furnaces have been repaired and the plant is expected to contribute to
our margins in 2Q10. We expect to produce approximately 30 MW to 35 MW of wafers internally
in 2Q10.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Ratio of Internal Cell Production</I>: In 1Q10 we manufactured approximately 50% of the
cells we used in the quarter internally. In 2Q10 we expect to produce approximately 110 MW
of cells internally representing approximately 60% of our 2Q10 shipments. By 4Q10 we
expect to produce approximately 165 MW of cells internally, representing approximately 70%
of our expected 4Q10 shipments.</TD>
</TR>

</TABLE>
</DIV>
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<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Recent Developments</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have entered into an insurance arrangement for our 25-year module performance
warranty, providing an irrevocable policy-based warranty to our customers.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We received 176 MW of initial contract offers in the Province of Ontario. We expect to
develop and sell these projects in 2011 and 2012. We are building a 100 MW module plant in
Ontario to satisfy local content requirements.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Outlook for 2Q10 and H2 2010</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following guidance is based on the Company&#146;s current views with respect to operating and market
conditions, its current order book and customer forecasts, which are subject to change. In addition
to these risks and the risks described below, the risks to our guidance include changes in foreign
exchange, product and materials pricing and the project financing environment.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Q2 2010 Guidance</I>: We expect shipments to be 170 MW to 180 MW in the second quarter of
2010, with anticipated gross margins of 13% &#151; 14%.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>H2 2010 Guidance</I>: We expect shipments in the second half of 2010 to exceed shipments in
the first half of 2010. Margins may improve by the second half of 2010 due to increased
vertical integration and improvements in our processing costs, provided there is no further
deterioration in the Euro or supply shortage, among other factors.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Full-year Guidance</I>: We expect to be supply constrained until late 2010 given the strong
market demand for our products. For the full year 2010, however, we are increasing our
shipments guidance from the prior range of 600 MW to 700 MW to 700 MW to 800 MW.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>About Canadian Solar Inc. (NASDAQ:CSIQ)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Canadian Solar Inc. is one of the world&#146;s largest solar companies. As a leading vertically
integrated provider of ingot, wafer, solar cell, solar module and other solar applications,
Canadian Solar designs, manufactures and delivers solar products and solar system solutions for
on-grid and off-grid use to customers worldwide. With operations in North America, Europe and Asia,
Canadian Solar provides premium quality, cost-effective and environmentally-friendly solar
solutions to support global, sustainable development. For more information, visit
<u>http://www.canadiansolar.com</u>.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Contacts:</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="46%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD nowrap align="left"><U>In Canada</U></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><U>In the U.S.</U></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Alex Taylor, IR Director<BR>
Canadian Solar Inc.<BR>
Tel: &#043;1-519 954 2057<BR>
Fax: &#043;1-519-954-2597<BR>
<u>ir@canadiansolar.com</u>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">David Pasquale<BR>
Global IR Partners<BR>
Tel: &#043;1-914-337-8801<BR>
csiq@globalirpartners.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Safe Harbor/Forward-Looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certain statements in this press release including statements regarding our expected future
shipment volumes, gross and net margins, manufacturing capacities and cell conversion
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">efficiencies,
are forward-looking statements that involve a number of risks and uncertainties that could cause
actual results to differ materially. These statements are made under the &#147;Safe Harbor&#148; provisions
of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as &#147;believes,&#148; &#147;expects,&#148; &#147;anticipates,&#148; &#147;intends,&#148;
&#147;estimates,&#148; the negative of these terms, or other comparable terminology. Factors that could cause
actual results to differ include the risks regarding the SEC and internal investigations described above as well as general business and
economic conditions and the state of the solar industry; governmental support for the deployment of
solar power; future available supplies of high-purity silicon; demand for end-use products by
consumers and inventory levels of such products in the supply chain; changes in demand from
significant customers, including customers of our silicon materials sales; changes in demand from
major markets such as Germany; changes in customer order patterns; changes in product mix; capacity
utilization; level of competition; pricing pressure and declines in average selling prices; delays
in new product introduction; continued success in technological innovations and delivery of
products with the features customers demand; shortage in supply of materials or capacity
requirements; availability of financing; exchange rate fluctuations; litigation and other risks as
described in the Company&#146;s SEC filings, including its annual report on Form 20-F originally filed
on June&nbsp;8, 2009, as amended by its report on Form 20-F/A filed on October&nbsp;14, 2009. Although the
Company believes that the expectations reflected in the forward looking statements are reasonable,
it cannot guarantee future results, level of activity, performance, or achievements. You should not
place undue reliance on these forward-looking statements. All information provided in this press
release is as of today&#146;s date, unless otherwise stated, and Canadian Solar undertakes no duty to
update such information, except as required under applicable law.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
