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v3.25.1

SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2024
SEGMENT INFORMATION |
Summary of revenues, gross profit, operating expenses, income (loss) from operations and interest by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Elimination | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Recurrent | ​ | Unallocated | ​ | ​ | ​
​ |  | CSI Solar |  | Energy |  | Items |  | Total
Net revenues |  | $ | 6,460,003 | ​ | $ | 323,469 | ​ | $ | (790,063) | ​ | $ | 5,993,409
Cost of revenues |  | ​ | 5,272,722 | ​ | ​ | 257,976 | ​ | ​ | (536,608) | ​ | ​ | 4,994,090
Gross profit |  | ​ | 1,187,281 | ​ | ​ | 65,493 | ​ | ​ | (253,455) | ​ | ​ | 999,319
Operating expenses | ​ | ​ | 850,499 | ​ | ​ | 155,573 | ​ | ​ | 23,328 | ​ | ​ | 1,029,400
Income (loss) from operations | ​ | $ | 336,782 | ​ | $ | (90,080) | ​ | $ | (276,783) | ​ | $ | (30,081)
Other segment items (1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (52,221)
Loss before income taxes and equity in losses of affiliates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (82,302)
Supplementary information: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ | $ | (63,698) | ​ | $ | (63,465) | ​ | $ | (10,305) | ​ | $ | (137,468)
Interest income | ​ | ​ | 63,107 | ​ | ​ | 25,281 | ​ | ​ | 82 | ​ | ​ | 88,470
Depreciation and amortization, included in cost of revenues and operating expenses | ​ | ​ | 463,893 | ​ | ​ | 37,550 | ​ | ​ | — | ​ | ​ | 501,443
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Elimination | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Recurrent | ​ | Unallocated | ​ | ​ | ​
​ |  | CSI Solar |  | Energy |  | Items |  | Total
Net revenues |  | $ | 7,230,550 | ​ | $ | 497,653 | ​ | $ | (114,577) | ​ | $ | 7,613,626
Cost of revenues |  | ​ | 6,121,332 | ​ | ​ | 292,926 | ​ | ​ | (80,615) | ​ | ​ | 6,333,643
Gross profit |  | ​ | 1,109,218 | ​ | ​ | 204,727 | ​ | ​ | (33,962) | ​ | ​ | 1,279,983
Operating expenses | ​ | ​ | 653,135 | ​ | ​ | 108,106 | ​ | ​ | 65,422 | ​ | ​ | 826,663
Income from operations | ​ | $ | 456,083 | ​ | $ | 96,621 | ​ | $ | (99,384) | ​ | $ | 453,320
Other segment items (1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (44,795)
Income before income taxes and equity in earnings of affiliates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 408,525
Supplementary information: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ | $ | (60,413) | ​ | $ | (46,489) | ​ | $ | (7,197) | ​ | $ | (114,099)
Interest income | ​ | ​ | 43,788 | ​ | ​ | 7,797 | ​ | ​ | 36 | ​ | ​ | 51,621
Depreciation and amortization, included in cost of revenues and operating expenses | ​ | ​ | 290,346 | ​ | ​ | 16,694 | ​ | ​ | — | ​ | ​ | 307,040
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Elimination | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Recurrent | ​ | Unallocated | ​ | ​ | ​
​ |  | CSI Solar |  | Energy |  | Items |  | Total
Net revenues |  | $ | 6,975,612 |  | $ | 821,525 | ​ | $ | (328,527) | ​ | $ | 7,468,610
Cost of revenues |  | ​ | 5,824,855 |  | ​ | 660,161 | ​ | ​ | (279,542) | ​ | ​ | 6,205,474
Gross profit |  | ​ | 1,150,757 |  | ​ | 161,364 | ​ | ​ | (48,985) | ​ | ​ | 1,263,136
Operating expenses | ​ | ​ | 806,959 | ​ | ​ | 81,000 | ​ | ​ | 19,116 | ​ | ​ | 907,075
Income from operations | ​ | $ | 343,798 | ​ | $ | 80,364 | ​ | $ | (68,101) | ​ | $ | 356,061
Other segment items (1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 407
Income before income taxes and equity in earnings of affiliates | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 356,468
Supplementary information: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ | $ | (50,756) | ​ | $ | (16,358) | ​ | $ | (7,152) | ​ | $ | (74,266)
Interest income | ​ | ​ | 36,085 | ​ | ​ | 4,382 | ​ | ​ | 148 | ​ | ​ | 40,615
Depreciation and amortization, included in cost of revenues and operating expenses | ​ | ​ | 227,839 | ​ | ​ | 6,720 | ​ | ​ | — | ​ | ​ | 234,559
(1) | Includes interest expense, net, loss on change in fair value of derivatives, net, foreign exchange gain, net and investment income, net.
Summary of the Company's net revenues generated from different geographic locations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
The Americas: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
United States | ​ | $ | 1,963,956 | ​ | $ | 1,485,919 | ​ | $ | 2,776,124
Brazil |  | ​ | 623,331 | ​ | ​ | 846,387 | ​ | ​ | 190,925
Mexico |  | ​ | 31,912 | ​ | ​ | 50,884 | ​ | ​ | 42,431
Others | ​ | ​ | 174,452 | ​ | ​ | 232,955 | ​ | ​ | 94,295
​ |  | ​ | 2,793,651 | ​ | ​ | 2,616,145 | ​ | ​ | 3,103,775
Asia: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
China |  | ​ | 1,904,862 | ​ | ​ | 2,151,243 | ​ | ​ | 1,220,446
Pakistan |  | ​ | 73,531 | ​ | ​ | 78,203 | ​ | ​ | 266,082
Japan | ​ | ​ | 325,344 | ​ | ​ | 597,188 | ​ | ​ | 150,727
India | ​ | ​ | 197,772 | ​ | ​ | 91,020 | ​ | ​ | 50,241
United Arab Emirates | ​ | ​ | 15,974 | ​ | ​ | 22,915 | ​ | ​ | 23,546
Taiwan |  | ​ | 67,411 | ​ | ​ | 19,369 | ​ | ​ | 21,155
Philippines | ​ | ​ | 26,578 | ​ | ​ | 40,612 | ​ | ​ | 18,623
Others | ​ | ​ | 128,307 | ​ | ​ | 124,946 | ​ | ​ | 50,742
​ | ​ | ​ | 2,739,779 | ​ | ​ | 3,125,496 | ​ | ​ | 1,801,562
Europe and other regions: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Spain |  | ​ | 434,841 | ​ | ​ | 445,321 | ​ | ​ | 221,788
Germany | ​ | ​ | 322,189 | ​ | ​ | 291,385 | ​ | ​ | 198,227
United Kingdom | ​ | ​ | 106,662 | ​ | ​ | 144,994 | ​ | ​ | 185,240
Australia | ​ | ​ | 393,959 | ​ | ​ | 128,247 | ​ | ​ | 115,118
Italy | ​ | ​ | 14,465 | ​ | ​ | 79,041 | ​ | ​ | 81,007
South Africa | ​ | ​ | 118,458 | ​ | ​ | 218,596 | ​ | ​ | 75,467
Poland | ​ | ​ | 26,136 | ​ | ​ | 12,667 | ​ | ​ | 27,975
Czech | ​ | ​ | 79,414 | ​ | ​ | 62,079 | ​ | ​ | 23,670
Romania |  | ​ | 31,804 | ​ | ​ | 24,491 | ​ | ​ | 23,540
Netherlands |  | ​ | 136,375 |  | ​ | 81,820 |  | ​ | 21,607
Others |  | ​ | 270,877 | ​ | ​ | 383,344 | ​ | ​ | 114,433
​ | ​ | ​ | 1,935,180 | ​ | ​ | 1,871,985 | ​ | ​ | 1,088,072
Total net revenues | ​ | $ | 7,468,610 | ​ | $ | 7,613,626 | ​ | $ | 5,993,409
Schedule of long-lived assets, including property, plant and equipment, non-current project assets, solar power systems, prepaid land use rights and intangible assets by geographic region | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2024
China |  | $ | 2,398,130 | ​ | $ | 2,515,326
United States | ​ | ​ | 528,538 | ​ | ​ | 1,405,757
Thailand | ​ | ​ | 691,467 | ​ | ​ | 620,060
Europe | ​ | ​ | 99,738 | ​ | ​ | 500,229
Brazil | ​ | ​ | 409,211 | ​ | ​ | 374,177
Colombia | ​ | ​ | 61,847 | ​ | ​ | 57,822
Argentina | ​ | ​ | 63,526 | ​ | ​ | 49,150
Others |  | ​ | 44,232 | ​ | ​ | 38,635
Total long-lived assets |  | $ | 4,296,689 | ​ | $ | 5,561,156
Summary of the Company's revenues generated from each product or service | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | $ | ​ | $ | ​ | $
CSI Solar: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Solar modules |  | $ | 5,534,379 | ​ | $ | 5,941,345 | ​ | $ | 4,281,178
Solar system kits |  | ​ | 538,157 | ​ | ​ | 679,350 | ​ | ​ | 398,173
Battery energy storage solutions | ​ | ​ | 440,716 | ​ | ​ | 245,173 | ​ | ​ | 814,604
EPC and others | ​ | ​ | 133,833 | ​ | ​ | 250,105 | ​ | ​ | 181,422
Recurrent Energy: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Solar power and battery energy storage asset sales |  | ​ | 761,677 | ​ | ​ | 399,098 | ​ | ​ | 156,686
Power services | ​ | ​ | 27,901 | ​ | ​ | 40,636 | ​ | ​ | 69,972
Revenue from electricity, battery energy storage operations and others | ​ | ​ | 31,947 | ​ | ​ | 57,919 | ​ | ​ | 91,374
Total net revenues |  | $ | 7,468,610 | ​ | $ | 7,613,626 | ​ | $ | 5,993,409
​

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