Fri May 22, 2015 12:21am EDT
Toshiba extends accounting probe to three more business units
Japan industrial conglomerate Toshiba Corp said on Friday it would investigate accounting practices in its TV, computer and chip businesses, extending a probe already under way into irregularities that led to profits being overstated by at least $415 million in recent years. Continue reading
Solar Panel Maker Suffering HK Share Sell-Off ‘Failed to Repay Loans’
Hanergy Holding Group used shares in listed unit to take out bank loans it has been unable to repay, sources close to company say
By staff reporters Huang Kaixi, Wu Hongyuran and Yu Ning and Hong Kong correspondent Wang Duan
(Hong Kong and Beijing) – The solar panel manufacturer whose listed subsidiary has suffered a sell-off of shares in Hong Kong failed to repay bank loans, sources close to the parent company say. Continue reading
一财网 熊鹏 2015-05-21 14:41:00
汉能股价在25分钟左右暴跌47%，引发市场热议。各种猜测四起。我们无意于各种猜测，仅仅从数据角度看看发生了什么。这份笔记只是我们内部总结，提出的一些看法也是我们内部讨论的议题，并无正误之分，更无与人讨论之意。 Continue reading
May 20, 2015 1:10 pm
Q&A: What is going on at Hanergy?
Robin Kwong, Miles Johnson and Cynthia O’Murchu
What happened at Hanergy on Wednesday?
Hanergy Thin Film Power, the world’s biggest solar company by market capitalisation, has suffered a major reversal of fortunes. Its share price has surged almost 600 per cent in the past two years, but on Wednesday the stock dived. HTF’s Hong Kong-listed shares plunged 47 per cent, from HK$7.01 to HK$3.88, in just 24 minutes. This knocked HK$130.1bn (US$16.7bn) off the company’s market capitalisation, and therefore produced a big paper loss for Hanergy group chairman and founder Li Hejun. He is the controlling shareholder in both Hanergy group and its subsidiary HTF, and is one of China’s richest people. HTF’s Hong Kong-listed shares are now suspended from trading, at the request of the company.
What triggered this stock fall?
It is hard to say for certain at this stage. HTF held an annual meeting with shareholders in Hong Kong on Wednesday but Mr Li, who owns a net 74.96 per cent of the stock according to regulatory filings, did not attend. Hanergy said Mr Li was at the opening of the Hanergy clean energy expo centre in Beijing. The company provided this picture.
Why is the stock decline important? Continue reading
Antoine GaraForbes Staff
INVESTING 5/20/2015 @ 2:26PM 3,216 views
Hanergy’s Stock Collapse Is A Frustrating Win For Handcuffed Short Sellers
John Fichthorn of hedge fund Dialectic Capital woke up on Wednesday morning to find one his most promising short trades, a bet against high-flying Chinese solar panel manufacturer Hanergy Thin Film Power Group was finally paying off after the stock plunged 47% in early Hong Kong trading and was suspended. Continue reading
May 21, 2015, 1:06 A.M. ET
Hanergy 2.0: Goldin, And Goldin Properties Is Unfortunately A New MSCI Stock
By Shuli Ren
Goldin Financial (530.Hong Kong) and Goldin Properties (283.Hong Kong) fell 57% and 46% in Hong Kong today after Hanergy Thin Film‘s (566.Hong Kong) spectacular 47% fall yesterday. The Goldin Group has $25 billion market cap wiped out. Continue reading
First Hanergy Now Goldin: Top Hong Kong Stocks Drop Like Stones
May 21, 2015
Hong Kong’s best-performing stocks this year are tumbling even faster than they rallied.
Goldin Financial Holdings Ltd. and Goldin Properties Holdings Ltd., controlled by billionaire Pan Sutong, plunged more than 60 percent in Hong Kong trading Thursday. There was no immediate explanation for the drop. Before the rout, the two stocks surged more than 300 percent in 2015 for the biggest gains on the Hang Seng Composite Index. Continue reading