Canadian Solar Inc. (NASDAQ:CSIQ) Q4 2019 Earnings Conference Call - Final Transcript

Mar 26, 2020 • 08:00 am ET


Canadian Solar Inc. (NASDAQ:CSIQ) Q4 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to Canadian Solar's Fourth Quarter and Full Year of 2019 Earnings Conference Call. My name is Annie, and I'll be your operator for today. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the call over to Ed Job, Managing Director, Investor Relations at Canadian Solar. Please go ahead.

Ed Job

Thank you, Annie, and welcome everyone to Canadian Solar's fourth quarter and full year 2019 earnings conference call. Joining us today are Dr. Shawn Qu, Chairman and Chief Executive Officer; Yan Zhuang, Acting Chief Executive Officer; and Dr. Huifeng Chang, Chief Financial Officer.

On this call, Shawn will provide a brief update, followed by Yan who will review our recent progress and outlook, Huifeng will then review our financial results before we open the call to your questions.

Before we begin, may I remind listeners that management's prepared remarks today, as well as their answers to your questions will contain forward-looking statements, which are subject to risks and uncertainties. Therefore, the Company claims the protection of the Safe Harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act of 1995. Actual results may differ from management's current expectations.

Any projections of the Company's future performance represent management's estimates as of today. Canadian Solar assumes no obligation to update these projections in the future, unless otherwise required by applicable law. A more detailed discussion of the risks and uncertainties can be found in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission.

Management's prepared remarks will be presented within the requirements of SEC Reg-G regarding Generally Accepted Accounting Principles or GAAP. Some financial information presented during the call will be provided on both a GAAP and a non-GAAP basis. By disclosing certain non-GAAP information, management intends to provide investors with additional information to allow further analysis of the Company's performance and underlying trends.

Management uses non-GAAP measures to better assess operating performance and to establish operational goals. Non-GAAP information should not be viewed by investors as a substitute for data prepared in accordance to GAAP.

At this time, I would like to turn the call over to Canadian Solar's Chairman and CEO, Dr. Shawn Qu. Shawn, please go ahead.

Shawn Qu

Thank you, Ed. Welcome everyone. 2019 was a strong year, as our revenue and profit both exceeded expectations. Yan will go through our business review and outlook in more details. Given the current pandemic and macro situation, I would like to share with you some of my views and perspective.

First of all, we have been working hard to ensure the health and safety of our employees. This is our top priority. We're also taking all the necessary measures to support our customers and partners in the current market environment, while still planning for the market to rebound. Today, solar is already one of the most environmental and economically attractive sources of energy. Innovation continues