Very informative explanation of the problems in this situation. Thank you!
It will be difficult to arrive at honest conclusions when there are so many outside interests trying to move the standards toward what they want.
In your footnote 2, the last point starts "• The phrase appears only in footnote 2093: " Does this mean that there are this many footnotes to the document? That is a lot to try to comprehend.
ha! But just a reminder that I am not a lawyer and don't really know how safe harbor is applied in practice. I thought it's description and seemingly its intent is notable in this context though.
I am not a lawyer either - in this instance it gives the company - Canadian Solar an out for anything it says - as in what ever they say in the press release may or may not be true. - Get out of jail free card, I can't be sued over what I said card! I've never actually seen anyone use it in a press release. This was actually longer than the press release! Interesting
I found this interesting after reading your substack today .. referencing a Canadian Solar Press release I was reading: Sounds like you can say whatever you want and then invoke the safe harbor rule if you are wrong....
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets, such as Japan, the U.S., China, Brazil and Europe; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; uncertainties related to the CSI Solar carve-out listing; litigation and other risks as described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 18, 2023. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
Nice post showing the irrationality of the SEC rule making.
As for businesses, they should highlight that the real danger to their nottom line is actually the government's climate policies, not the weather, or climate.
And include the costs of "compliance" with this nonsense.
Very informative explanation of the problems in this situation. Thank you!
It will be difficult to arrive at honest conclusions when there are so many outside interests trying to move the standards toward what they want.
In your footnote 2, the last point starts "• The phrase appears only in footnote 2093: " Does this mean that there are this many footnotes to the document? That is a lot to try to comprehend.
Their 886 page document had 3,241 footnotes.
How many lawyers and how many billable hours does it take to read and understand this document?
ha! But just a reminder that I am not a lawyer and don't really know how safe harbor is applied in practice. I thought it's description and seemingly its intent is notable in this context though.
I am not a lawyer either - in this instance it gives the company - Canadian Solar an out for anything it says - as in what ever they say in the press release may or may not be true. - Get out of jail free card, I can't be sued over what I said card! I've never actually seen anyone use it in a press release. This was actually longer than the press release! Interesting
I found this interesting after reading your substack today .. referencing a Canadian Solar Press release I was reading: Sounds like you can say whatever you want and then invoke the safe harbor rule if you are wrong....
Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets, such as Japan, the U.S., China, Brazil and Europe; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; uncertainties related to the CSI Solar carve-out listing; litigation and other risks as described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 18, 2023. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
Canadian Solar Inc. Contacts -
Isabel Zhang -Investor Relations
Canadian Solar Inc.
Wow!
Nice post showing the irrationality of the SEC rule making.
As for businesses, they should highlight that the real danger to their nottom line is actually the government's climate policies, not the weather, or climate.
And include the costs of "compliance" with this nonsense.
Government = corruption and ideological capture. Gee, I wonder why people mistrust federal agencies.