Investor relations

SEC Filings

Form 20-F
CANADIAN SOLAR INC. filed this Form 20-F on 04/20/2016
Document Outline
Entire Document (12497.6 KB)
Subdocument 1 - 20-F - 20-F
Page 1 - UNITED STATES
Page 2 - Table of Contents
Page 3 - INTRODUCTION
Page 4 - FORWARD-LOOKING INFORMATION
Page 5 - PART I
Page 6 - B. Capitalization and Indebtedness
Page 7 - We are preparing to potentially form a global Yieldco investment vehicle for our solar power busines
Page 8 - The execution of our growth strategy depends upon the continued availability of third-party financin
Page 9 - Our future success depends partly on our ability to expand the pipeline of our energy development an
Page 10 - General global economic conditions may have an adverse impact on our operating performance and resul
Page 11 - Our project development and construction activities may not be successful, projects under developmen
Page 12 - Developing solar power projects exposes us to different risks than producing solar modules.
Page 13 - We may not be able to enter into PPAs or face delays in entering into PPAs or may not be able to rep
Page 14 - Counterparties to our PPAs may not fulfill their obligations, which could result in a material adver
Page 15 - If the supply of solar wafers and cells increases in line with increases in the supply of polysilico
Page 16 - N/A
Page 17 - We are subject to numerous laws and regulations at the national, regional and local levels of govern
Page 18 - Because the markets in which we compete are highly competitive and quickly evolving, because many of
Page 19 - N/A
Page 20 - We face risks associated with the marketing, distribution and sale of our solar power products and s
Page 21 - Our future business depends in part on our ability to make strategic acquisitions, investments and d
Page 22 - We face risks related to private securities litigation.
Page 23 - Fluctuations in exchange rates could adversely affect our business, including our financial conditio
Page 24 - A change in our effective tax rate can have a significant adverse impact on our business.
Page 25 - We may be unable to generate sufficient cash flows or have access to external financing necessary to
Page 26 - We must comply with certain financial and other covenants under the terms of our debt instruments an
Page 27 - Our dependence on Chinese banks to extend our existing loans and provide additional loans exposes us
Page 28 - Our dependence on a limited number of suppliers of silicon wafers, cells and silicon, and the limite
Page 29 - N/A
Page 30 - We may not continue to be successful in developing and maintaining a cost-effective solar cell manuf
Page 31 - If we are unable to attract, train and retain technical personnel, our business may be materially an
Page 32 - Product liability claims against us could result in adverse publicity and potentially significant mo
Page 33 - We may not be successful in establishing our brand name in important markets and the products we sel
Page 34 - We have limited insurance coverage and may incur significant losses resulting from operating hazards
Page 35 - If additional remedial measures are imposed on the big four PRC-based accounting firms, including ou
Page 36 - Our independent registered public accounting firm, Deloitte China, recently advised our audit commit
Page 37 - In recent years, our subsidiaries have lost certain tax benefits and we expect to pay additional PRC
Page 38 - Dividends paid by us to our non-PRC shareholders and gains on the sale of our common shares by our n
Page 39 - We face uncertainty from the PRC State Administration of Taxation's Announcement on Several Issues C
Page 40 - Restrictions on currency exchange may limit our ability to receive and use our revenues effectively.
Page 41 - The market price for our common shares may be volatile.
Page 42 - Your right to participate in any future rights offerings may be limited, which may cause dilution to
Page 43 - ITEM 4.
Page 44 - B. Business Overview
Page 45 - Our Products and Services
Page 46 - Specialty Solar Products
Page 47 - Products and Services Offered in Our Energy Development Segment
Page 48 - Silicon Raw Materials and Solar Wafers
Page 49 - Electricity Generation Segment
Page 50 - Electricity Generation Segment
Page 51 - Energy Development and Electricity Generation Segments
Page 52 - Module Segment
Page 53 - Solar Project Development
Page 54 - In the U.S.
Page 55 - EPC Services
Page 56 - Competition
Page 57 - Energy Development Segment
Page 58 - Insurance
Page 59 - Renewable Energy Law and Other Government Directives
Page 60 - Environmental Regulations
Page 61 - Admission of Foreign Investment
Page 62 - N/A
Page 63 - N/A
Page 64 - Foreign Currency Exchange
Page 65 - N/A
Page 66 - C. Organizational Structure
Page 67 - D. Property, Plant and Equipment
Page 68 - ITEM 4A.
Page 69 - Solar Wafers and Cells and Silicon Raw Materials Costs Relative to the Pricing of Modules
Page 70 - Industry and Seasonal Demand
Page 71 - Foreign Exchange
Page 72 - Electricity Generation Segment
Page 73 - N/A
Page 74 - Energy Development Segment
Page 75 - Electricity Generation Segment
Page 76 - Share-based Compensation Expenses
Page 77 - Gain (Loss) on Change in Fair Value of Derivatives
Page 78 - Critical Accounting Policies
Page 79 - Energy Development Segment
Page 80 - N/A
Page 81 - Electricity Generation Segment
Page 82 - N/A
Page 83 - Impairment of Long-lived Assets
Page 84 - Inventories
Page 85 - Project Assets
Page 86 - Income Taxes
Page 87 - N/A
Page 88 - N/A
Page 89 - Results of Operations
Page 90 - Year Ended December 31, 2015 Compared to Year Ended December 31, 2014
Page 91 - Energy Development.
Page 92 - General and Administrative Expenses.
Page 93 - Net Income Attributable to Canadian Solar Inc.
Page 94 - Electricity Generation.
Page 95 - Research and Development Expenses.
Page 96 - N/A
Page 97 - N/A
Page 98 - N/A
Page 99 - Operating Activities
Page 100 - Capital Expenditures
Page 101 - C. Research and Development
Page 102 - Solar module manufacturing technologies.
Page 103 - F. Tabular Disclosure of Contractual Obligations
Page 104 - N/A
Page 105 - ITEM 6.
Page 106 - Dr. Harry E. Ruda
Page 107 - Executive Officers
Page 108 - Dr. Huifeng Chang
Page 109 - Share-based Compensation
Page 110 - Exercise Price and Term of Options.
Page 111 - Options
Page 112 - N/A
Page 113 - Restricted Share Units
Page 114 - N/A
Page 115 - C. Board Practices
Page 116 - Compensation Committee
Page 117 - Nominating and Corporate Governance Committee
Page 118 - Interested Transactions
Page 119 - Director Agreements
Page 120 - D. Employees
Page 121 - N/A
Page 122 - ITEM 7.
Page 123 - Sales and purchase contracts with affiliates
Page 124 - U.S. Anti-dumping and Countervailing Duty Proceedings
Page 125 - European Anti-dumping and Anti-Subsidy Investigations
Page 126 - Canadian Anti-dumping and Countervailing Duties Investigation
Page 127 - ITEM 9.
Page 128 - F. Expenses of the Issue
Page 129 - Dividends
Page 130 - Canada United States Income Tax Convention
Page 131 - THE FOLLOWING DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT A SUBSTITUTE FOR CAREFUL TAX
Page 132 - Disposition of Common Shares
Page 133 - Passive Foreign Investment Company
Page 134 - N/A
Page 135 - Information Reporting and Backup Withholding
Page 136 - People's Republic of China Taxation
Page 137 - F. Dividends and Paying Agents
Page 138 - Interest Rate Risk
Page 139 - PART II
Page 140 - Report of the Independent Registered Public Accounting Firm
Page 141 - Changes in Internal Controls
Page 142 - ITEM 16C.
Page 143 - PART III
Page 144 - N/A
Page 145 - SIGNATURES
Page 146 - N/A
Page 147 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 148 - N/A
Page 149 - N/A
Page 150 - N/A
Page 151 - N/A
Page 152 - N/A
Page 153 - CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
Page 154 - 1. ORGANIZATION AND PRINCIPAL ACTIVITIES
Page 155 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 156 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 157 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 158 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 159 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 160 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 161 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 162 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 163 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 164 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 165 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 166 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 167 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 168 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 169 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 170 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 171 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 172 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 173 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 174 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 175 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 176 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 177 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 178 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 179 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 180 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 181 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 182 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 183 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 184 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 185 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 186 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 187 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 188 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 189 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 190 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 191 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 192 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 193 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 194 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 195 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 196 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 197 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 198 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 199 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 200 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 201 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 202 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 203 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 204 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 205 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 206 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 207 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 208 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 209 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 210 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 211 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 212 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 213 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 214 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 215 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 216 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 217 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 218 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 219 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 220 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 221 - NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 222 - Additional Information Financial Statement Schedule I
Page 223 - N/A
Page 224 - N/A
Page 225 - N/A
Page 226 - N/A
Page 227 - Appendix 1
Page 228 - N/A
Subdocument 2 - EX-4.7 - EX-4.7
Page 1 - Exhibit 4.7
Page 2 - twentieth
Page 3 - three
Page 4 - N/A
Page 5 - N/A
Page 6 - N/A
Page 7 - N/A
Page 8 - (Signature Page of this Contract)
Subdocument 3 - EX-8.1 - EX-8.1
Page 1 - EXHIBIT 8.1
Subdocument 4 - EX-12.1 - EX-12.1
Page 1 - EXHIBIT 12.1
Subdocument 5 - EX-12.2 - EX-12.2
Page 1 - EXHIBIT 12.2
Subdocument 6 - EX-13.1 - EX-13.1
Page 1 - EXHIBIT 13.1
Subdocument 7 - EX-13.2 - EX-13.2
Page 1 - EXHIBIT 13.2
Subdocument 8 - EX-15.1 - EX-15.1
Page 1 - EXHIBIT 15.1
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