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Solar manufacturing arm of Canadian Solar, making PV cells, modules, and battery-energy-storage systems in China.
Solar manufacturing arm of Canadian Solar, making PV cells, modules, and battery-energy-storage systems in China.
Sells solar modules priced per watt to developers and installers, so revenue depends on shipments and module prices, which fell hard when industry capacity outran demand. A growing energy-storage unit sells battery systems for grid projects, usually on large contracts. Canadian Solar, the Canadian-listed parent, controls it and sells through its global network.
In one line: The Chinese manufacturing subsidiary of US/Canada-listed Canadian Solar.
Moat: narrow (scale, distribution). Vertically integrated manufacturing and Canadian Solar's global sales network, in a commoditized industry.
Headquarters: Suzhou, China · Employees: 11,347
Size CSI Solar (688472.SS) is a China Information Technology company (Semiconductors) with a market value of $4.87B, the 519th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥9.03 on 6 Nov 2026.
Performance Over six months the shares fell 37.4%, against -26.9% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 36.1% over the last twelve months (peer median +24.3%); the operating margin is -2.1% (peer median 11.9%).
Valuation It trades at 48.8× forward earnings against a peer median of 28.0× (6th most expensive of 17).
Capital Return on invested capital runs 2.0 points below its cost of capital (6.1% WACC).
Next results Next results expected around 4 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥27.6B | CN¥40.2B | CN¥46.1B | CN¥51.3B | CN¥47.5B |
| Revenue growth | — | -13% | -10% | +8% | — |
| Gross profit | CN¥5.36B | CN¥3.79B | CN¥6.58B | CN¥6.74B | CN¥5.22B |
| EBITDA | n/a | CN¥3.65B | CN¥5.58B | CN¥5.07B | CN¥2.70B |
| Net income | -CN¥68.4M | CN¥1.02B | CN¥2.25B | CN¥2.90B | CN¥2.16B |
| Free cash flow | -CN¥2.22B | CN¥426M | -CN¥5.24B | CN¥415M | CN¥1.71B |
| Capital expenditure | CN¥3.97B | CN¥6.81B | CN¥7.87B | CN¥8.20B | CN¥4.22B |
| Total debt | CN¥21.4B | CN¥24.5B | CN¥22.6B | CN¥20.1B | CN¥19.6B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| CSI Solar 688472.SS | $4.87B | -37% | -36% | -2% | 48.8× | n/a |
| Trina Solar 688599.SS | $3.90B | -36% | -3% | -9% | n/a | -4.3% |
| Jinko Solar 688223.SS | $6.73B | -34% | -18% | -11% | n/a | n/a |
| LONGi Green Energy Technology 601012.SS | $14.1B | -25% | -16% | -12% | n/a | n/a |
| JA Solar Technology 002459.SZ | $3.50B | -35% | -23% | n/a | n/a | -20.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 688472.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.4% | -20.7% | 3rd highest of 21 |
| 6-month return | -37.4% | -26.9% | 8th lowest of 20 |
| Distance from 52-week high | -62.8% | -48.8% | 4th lowest of 21 |
| Revenue growth (TTM) | -36.1% | +24.3% | lowest of 21 |
| Operating margin | -2.1% | 11.9% | 3rd lowest of 21 |
| Forward P/E | 48.8× | 28.0× | 6th most expensive of 17 |
| ROIC minus cost of capital | -2.0 pp | -2.2 pp | 11th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| CSI Solar 688472.SS | China | $4.87B | -37% | -36% | -2% | 48.8× | n/a | n/a |
| MaxOne Semiconductor (Suzhou) 688809.SS | China | $4.90B | +2% | +57% | 39% | n/a | n/a | n/a |
| Zhejiang Quartz Crystal Optoelectronic Technology 002273.SZ | China | $5.03B | -28% | +19% | 18% | 24.9× | 16.9% | +16.5% |
| EverProX Technologies 300548.SZ | China | $5.04B | -59% | +64% | 35% | 33.5× | 30.9% | +26.6% |
| Synaptics SYNA | United States | $4.63B | -7% | +11% | -3% | 21.6× | 34.6% | -2.2% |
| Dosilicon 688110.SS | China | $5.13B | -7% | +375% | 54% | 27.4× | 23.6% | +3.3% |
| Powertech Technology 6239.TW | Taiwan | $4.61B | -11% | +24% | 13% | 13.2× | n/a | n/a |
| Shanghai Fudan Microelectronics 688385.SS | China | $4.60B | -31% | +15% | 12% | 31.6× | 24.8% | +18.9% |
| Win Semiconductors 3105.TWO | Taiwan | $5.19B | -27% | +24% | 11% | 28.5× | 48.8% | -8.2% |
| Macronix International 2337.TW | Taiwan | $4.52B | -53% | +127% | 38% | 1.8× | -7.5% | -6.2% |
| Maxscend Microelectronics 300782.SZ | China | $4.51B | -47% | -6% | -25% | n/a | n/a | n/a |
| Allegro MicroSystems ALGM | United States | $5.25B | -42% | +28% | 9% | 22.1× | 45.3% | +8.5% |
| Impinj PI | United States | $5.28B | +12% | +8% | -1% | 62.6× | 47.2% | +21.1% |
| MaxLinear MXL | United States | $4.48B | -51% | +56% | -1% | 12.1× | n/a | n/a |
| Chongqing Genori Technology 688797.SS | China | $4.45B | n/a | +37% | 29% | n/a | n/a | n/a |
| Hubei Feilihua Quartz Glass 300395.SZ | China | $5.35B | -38% | +50% | 24% | 52.7× | n/a | n/a |
| Bestechnic (Shanghai) 688608.SS | China | $4.41B | +2% | -26% | 8% | 50.6× | 42.7% | +27.1% |
| GalaxyCore 688728.SS | China | $5.41B | +1% | +16% | 3% | 86.7× | 28.8% | +3.8% |
| Sigmastar Technology 301536.SZ | China | $5.41B | +4% | +99% | 31% | n/a | 19.6% | +20.0% |
| Shenzhen Goodix Technology 603160.SS | China | $4.35B | -2% | -7% | 6% | 51.0× | 26.7% | -6.8% |
| Hanwha Solutions 009830.KS | South Korea | $4.30B | -49% | +14% | 0% | 20.1× | n/a | n/a |