Canadian Solar files 2025 Form 20‑F

Canadian Solar filed its 2025 annual report with the United States Securities and Exchange Commission on April 10, putting its audited year-end disclosures into the public record. (sec.gov) For companies based outside the United States but listed on Nasdaq, Form 20-F is the annual filing that packages audited financial statements, risk factors, governance disclosures, and management’s review for investors. Canadian Solar trades on Nasdaq under the ticker CSIQ and said the filing covers the year ended December 31, 2025. (sec.gov) The filing followed Canadian Solar’s March 19, 2026 release of fourth-quarter and full-year 2025 results. In that report, the company said 2025 revenue was $5.6 billion, solar module shipments were 24.3 gigawatts, and energy storage shipments were a record 7.8 gigawatt-hours. (sec.gov) Those March results also showed the split inside the business. Canadian Solar said it delivered a record 8.1 gigawatts of modules into the United States market and grew its energy storage contracted backlog to $3.6 billion as of March 13, 2026. (sec.gov) The same report showed why investors watch the annual filing closely. Canadian Solar said it posted a full-year 2025 net loss of $104 million and a fourth-quarter net loss of $131 million, citing project impairments, delayed sales, higher interest expense, and foreign-exchange losses. (prnewswire.com) Canadian Solar is not just a panel seller. The company said its majority-owned CSI Solar subsidiary is listed on the Shanghai Stock Exchange’s Science and Technology Innovation Board, and Canadian Solar owned about 64% of that unit when it filed preliminary 2025 results in March. (sec.gov) The company also reshaped its United States operations late last year. On December 1, 2025, Canadian Solar filed that it would resume direct oversight of United States manufacturing and operations under the parent company. (sec.gov) That makes the annual report more than a paperwork exercise. It gives investors the audited baseline for a company trying to expand United States manufacturing, grow battery storage, and manage a solar market still pressured by pricing and financing costs. (prnewswire.com) The immediate next marker is execution, not disclosure. Canadian Solar already told investors to expect first-quarter 2026 revenue of $900 million to $1.1 billion and gross margin of 13% to 15%, so the 20-F now serves as the reference point for what comes next. (prnewswire.com)