私募巨头景林资产的海外子公司景林资产管理香港有限公司（以下简称景林香港公司），近期向美国证券交易委员会（SEC）提交了截至2025年一季度末 的美股持仓数据，其持仓总市值为32.28亿美元（约合232.78亿元人民币），较去年底有所增加。 今年一季度，景林香港公司新进阿里巴巴、禾赛科技等，加仓了脸书母公司Meta、贝壳、台积电、新东方等，减持了谷歌、微软、Sea、好未来等，清仓 了英伟达、亚马逊、VISA等公司。 记者从渠道了解到景林资产的最新观点，公司表示，当前市场情绪有所改善，继续对中国资产保持乐观，寻找"阿尔法"的投资机会。 一季度末持有32.28亿美元 前十大重仓股占比86.24% 该公司对地产行业的贝壳的增持幅度超过777%，加仓422.80万股，持股达到477.18万股，一季度末持有市值为9586.56万美元，占组合比例的2.97%；加仓 富途控股61.87万股，持股增至190.16万股，期末持仓市值为1.95亿美元；加仓台积电32.96万股，期末持股增至157.46万股，持股市值为2.61亿美元，占组 合比例的8.10%；小幅增持科技巨头苹果，持股增至78.23万股，期末持有市值为1.74亿美元 ...

Group 1 - The core viewpoint of the news highlights a positive market reaction driven by favorable developments in US-China trade negotiations, with major US stock indices showing significant gains [1][2] - The Dow Jones Industrial Average rose by 2.44%, the Nasdaq Composite increased by 3.55%, and the S&P 500 climbed by 2.63% as of the specified time [1] - Major technology stocks experienced substantial increases, with Apple rising over 6%, Amazon up more than 7%, and Meta gaining over 5% [2] Group 2 - The Nasdaq China Golden Dragon Index surged over 5%, reflecting a strong performance among popular Chinese concept stocks [2][3] - Notable stock movements included Jia Yuda, which saw a peak increase of over 130% during trading, ultimately closing up 65.64% [2][3] - Other significant gainers in the Chinese stock market included Century Internet, which rose over 18%, and several other companies like Pinduoduo and Xpeng Motors, which saw increases exceeding 7% [4] Group 3 - The spot price of gold continued to decline, trading around $3240 per ounce, with a drop of 2.58% noted [4] - The price of gold fell below $3210 per ounce for the first time since April 14, indicating a notable downward trend [4] - Domestic gold jewelry prices also decreased, with several brands' prices falling back to around 1000 yuan [6][7]

Core Insights - Canadian Solar Inc. announced the launch of its SolBank 3.0 Plus battery energy storage product at Intersolar Europe, marking a significant advancement in its product line [1][4] Product Features - SolBank 3.0 Plus features enhancements in Lithium-Ion Phosphate (LFP) battery cell manufacturing, offering a 25-year lifespan, near-zero degradation for the first four years, and up to 12,000 cycles with 95% round-trip efficiency [2] - The product can increase lifetime energy throughput by over 13%, significantly reducing operational costs for customers [2] - Additional features include an aerospace-grade heat-resistant separator, upgraded electrical protection systems, and an optimized cooling system that reduces auxiliary load power consumption by up to 30% [3] Company Overview - Canadian Solar is one of the largest solar technology and renewable energy companies globally, having delivered nearly 150 GW of solar photovoltaic modules and over 10 GWh of battery energy storage solutions as of December 31, 2024 [5] - The company has a contracted backlog of US$3.2 billion and has developed approximately 11.5 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally [5] - Canadian Solar operates a geographically diversified project development pipeline with 25 GWp of solar and 75 GWh of battery energy storage capacity in various stages of development [5] Subsidiary Information - e-STORAGE, a subsidiary of Canadian Solar, specializes in designing and manufacturing battery energy storage systems for utility-scale applications, with an annual production capacity of 20 GWh [6]

Core Viewpoint - Canadian Solar Inc. will hold a conference call on May 15, 2025, to discuss its first quarter 2025 results and business outlook [1]. Company Overview - Canadian Solar is one of the largest solar technology and renewable energy companies globally, founded in 2001 and headquartered in Kitchener, Ontario [4]. - The company is a leading manufacturer of solar photovoltaic modules and provides solar energy and battery energy storage solutions [4]. - Canadian Solar has delivered nearly 150 GW of solar photovoltaic modules worldwide over the past 24 years [4]. - The company has shipped over 10 GWh of battery energy storage solutions, with a contracted backlog of US$3.2 billion as of December 31, 2024 [4]. - Since 2010, Canadian Solar has developed approximately 11.5 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally [4]. - The project development pipeline includes 25 GWp of solar and 75 GWh of battery energy storage capacity in various stages of development [4]. - Canadian Solar has been publicly listed on NASDAQ since 2006 and is considered one of the most bankable companies in the solar and renewable energy industry [4].

Core Viewpoint - The market anticipates a significant year-over-year decline in earnings for Canadian Solar, with a consensus estimate of a quarterly loss of $1.50 per share and revenues expected to drop by 18.1% to $1.09 billion [3][4]. Company Summary - Canadian Solar is projected to report a quarterly loss of $1.50 per share, reflecting a drastic year-over-year change of -889.5% [3]. - The expected revenue for the quarter is $1.09 billion, which is an 18.1% decrease compared to the same quarter last year [3]. - The consensus EPS estimate has been revised down by 164.29% over the last 30 days, indicating a significant reassessment by analysts [4]. - The Most Accurate Estimate for Canadian Solar is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +13.81% [10][11]. - Despite the positive Earnings ESP, the stock carries a Zacks Rank of 5, complicating predictions of an earnings beat [11]. Industry Summary - SolarEdge Technologies, a competitor in the solar industry, is expected to report earnings per share of $1.20 for the same quarter, indicating a year-over-year increase of +36.8% [17]. - SolarEdge's revenues are projected to be $203.8 million, reflecting a slight decrease of 0.3% from the previous year [17]. - The consensus EPS estimate for SolarEdge has been revised down by 2.5% over the last 30 days, resulting in an Earnings ESP of -8.73% [18].

Core Points - Canadian Solar Inc. filed its annual report on Form 20-F for the year ended December 31, 2024, with the U.S. SEC [1] - The annual report is accessible on the Company's Investor Relations website and the SEC's website [1] Company Overview - Canadian Solar is one of the largest solar technology and renewable energy companies globally, founded in 2001 and headquartered in Kitchener, Ontario [2] - The Company is a leading manufacturer of solar photovoltaic modules and provides solar energy and battery energy storage solutions [2] - Canadian Solar has delivered nearly 150 GW of solar photovoltaic modules worldwide over the past 24 years [2] - The subsidiary e-STORAGE has shipped over 10 GWh of battery energy storage solutions, with a contracted backlog of US$3.2 billion as of December 31, 2024 [2] - Since entering project development in 2010, Canadian Solar has developed approximately 11.5 GWp of solar power projects and 4.5 GWh of battery energy storage projects globally [2] - The Company has a diversified project development pipeline, including 25 GWp of solar and 75 GWh of battery energy storage capacity in various stages of development [2] - Canadian Solar is recognized as one of the most bankable companies in the solar and renewable energy industry and has been publicly listed on NASDAQ since 2006 [2]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) (Translation of Registrant's name into English) Ontario (Jurisdiction of incorporation or organization) 4273 King Street East, Suite 102 Kitchener, Ontario,N2P 2E9 Canada (Address of principal executive offices) Xinbo Zhu, Chief Financial Officer 4273 King Street East, Suite 102 Kitchener, Ontario, N2P 2E9 ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1 ...

Exhibit 99.1 Initially sized at US$415 million, the facility includes an accordion feature, which allows for potential upsizing, and offers disbursements in USD, EUR, GBP, and AUD. This structure strengthens Recurrent Energy's financial agility, enabling it to pursue strategic opportunities and accelerate the deployment of clean energy projects worldwide. Recurrent Energy Secures $415 Million Corporate Debt Financing to Accelerate Global IPP Growth Flexible, multi-currency facility strengthens Recurrent Ene ...

Market Overview - US stock indices experienced a significant rise for the third consecutive trading day, with the Dow Jones up 486.83 points (1.23%), Nasdaq up 457.99 points (2.74%), and S&P 500 up 108.91 points (2.03%) on April 24 [1] Technology Sector Performance - Major tech stocks saw substantial gains, with Tesla, Amazon, and Microsoft rising over 3%, while Google and Meta increased by more than 2%, and Apple rose nearly 2% [2] - The semiconductor sector led the gains, with Micron Technology and Broadcom up over 6%, Intel and AMD rising over 4%, and Nvidia increasing by more than 3% [2] - Nvidia's market capitalization increased by $90.8 billion (approximately ¥661.8 billion) in one night [2] Company Earnings Reports - Alphabet (Google's parent company) reported Q1 revenue of $90.23 billion, a 12% year-over-year increase, exceeding the expected $89.1 billion. Earnings per share were $2.81, up from $1.89 a year ago, and also above the forecast of $2.01. The operating profit was $30.61 billion, a 20% increase year-over-year, surpassing the expected $28.86 billion. The board authorized a stock buyback of up to $70 billion [6] - Intel reported Q1 revenue of $12.67 billion, a slight decline of 0.4% year-over-year, but above the expected $12.31 billion. Adjusted earnings per share were $0.13, down from $0.18 a year ago, but above the forecast of $0.01. The data center and AI revenue was $4.13 billion, exceeding the analyst expectation of $2.96 billion. Intel projected Q2 revenue between $11.2 billion and $12.4 billion, below the market estimate of $12.88 billion. The company reduced its total capital expenditure target for 2025 from $20 billion to $18 billion, leading to a post-earnings drop of over 7% in its stock [7] Chinese Stocks Performance - The Nasdaq Golden Dragon China Index rose by 0.68%, with notable gains in popular Chinese stocks such as NIO and Futu Holdings, which increased by over 6%, and Pinduoduo, Baidu, NetEase, and Bilibili rising over 2%. Xpeng Motors surged by 39.41%, and ZYBT rose by 34.91% [7][8] Commodity Market - International precious metals futures saw a general increase, with COMEX gold futures rising by 2.04% to $3,361.30 per ounce, and WTI crude oil futures up by 0.84% to $62.79 per barrel [9]

Core Insights - Clean energy investments are rising globally, with solar power being the fastest-growing energy source, benefiting companies like First Solar (FSLR) and Canadian Solar (CSIQ) [1][2] Group 1: First Solar (FSLR) - Recent Achievements: First Solar achieved a record annual sales growth of 26.7% in 2024, driven by increased module shipments and started production of Series 7 modules in Alabama, with a total production capacity of approximately 21 GW [3][4] - Future Outlook: The company plans to expand its manufacturing capacity to over 25 GW by the end of 2026 and has contracts for the future sale of 68.5 GW of solar modules worth $20.5 billion, expected to be recognized as revenue through 2030 [4][5] - Financial Stability: As of December 31, 2024, First Solar had cash and cash equivalents of $1.79 billion, significantly higher than its long-term debt of $0.37 billion and current debt of $0.24 billion, indicating a strong solvency position [5] - Challenges: First Solar faces competition from Chinese manufacturers who added an estimated 270 GW of production capacity in 2024, which could lead to pricing volatility and affect profitability [6] - Manufacturing Issues: The company identified potential premature power loss in certain Series 7 modules, estimating aggregate losses between $56 million and $100 million, which could impact near-term results [7] Group 2: Canadian Solar (CSIQ) - Recent Achievements: Canadian Solar brought 1.3 GWp of solar projects to commercial operation by December 31, 2024, and has a project pipeline of 24.9 GWp [8][9] - Financial Stability: As of December 31, 2024, Canadian Solar's cash and cash equivalents totaled $2.25 billion, while its current debt was $2.76 billion and long-term debt was $2.49 billion, indicating a weak solvency position [11] - Challenges: The company experienced an 11% year-over-year decline in revenues in Q4 2024 due to declining average selling prices of solar modules, primarily affected by increased competition from Chinese manufacturers [12] Group 3: Comparative Analysis - Sales and Earnings Estimates: The Zacks Consensus Estimate for First Solar's 2025 sales and EPS implies improvements of 31.1% and 55.6%, respectively, while Canadian Solar's sales estimate implies a 24.7% improvement, with a projected loss per share of 6 cents [13][14] - Stock Performance: Over the past three months, FSLR has outperformed CSIQ, with FSLR down 19.5% compared to CSIQ's 28% decline [16] - Valuation: First Solar is trading at a forward earnings multiple of 6.49X, significantly lower than Canadian Solar's 26.64X, making FSLR a more attractive investment option [17][21]