Canadian Solar Inc: Segment Analysis

Canadian Solar Inc (Canadian Solar) designs, develops and manufactures solar wafers, ingots, modules, cells and other solar power products. Its products include standard solar modules and specialty solar products; solar modules for use in residential, commercial and industrial solar power generation systems; and customized solar modules.

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Canadian Solar’s R&D efforts focus on developing ingots and wafering, cells, modules, system performance analysis, energy solution products and reliability testing and battery storage products. As of December 31, 2021, 156 employees were engaged in research, product development and engineering. It has 2,250 authorized patents worldwide until the end of 2021. It also intends to focus on developing Czochralski (“CZ”) mono pulling technologies compatible to 182 mm and 210 mm ingot size with competitive cost structure, novel diamond wire sawing technology compatible with 182 mm and 210 mm mono ingot, new cell structures and technologies for higher efficiencies and performance along with new modules of improved design and assembly methods to have higher power output, module-level efficiency, reliability and system-level performance. In FY2021, the R&D expenses stood at US$58.4 million, which accounted for 1.1% of the company’s revenue. In FY2021, the R&D expenses stood at US$58.40 million, which accounted for 1.1% of the company’s revenue.