Q&A: What is going on at Hanergy?

http://www.ft.com/intl/cms/s/2/cea87e76-fedb-11e4-94c8-00144feabdc0.html#slide0

May 20, 2015 1:10 pm

Q&A: What is going on at Hanergy?

Robin Kwong, Miles Johnson and Cynthia O’Murchu

Hanergy5Hanergy6 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

Hanergy’s Stock Collapse Is A Frustrating Win For Handcuffed Short Sellers

http://www.forbes.com/sites/antoinegara/2015/05/20/hanergys-stock-short-sellers-dialectic-john-fichthorn/print/

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

Hanergy 2.0: Goldin, And Goldin Properties Is Unfortunately A New MSCI Stock

http://blogs.barrons.com/asiastocks/2015/05/21/hanergy-2-0-goldin-and-goldin-properties-is-unfortunately-a-new-msci-stock/?mod=BOL_hp_blog_astw

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; A 24-Minute, $19 Billion Wipeout Threatens a Chinese Company’s Solar Dream

http://www.bloomberg.com/news/articles/2015-05-21/billionaire-pan-sutong-s-goldin-companies-plunge-in-hong-kong

http://www.wsj.com/articles/goldin-financial-follows-hanergy-downward-1432180027

http://www.ft.com/intl/cms/s/0/1b56b984-ff74-11e4-8dd4-00144feabdc0.html#axzz3akdAtWmF

First Hanergy Now Goldin: Top Hong Kong Stocks Drop Like Stones

byKyoungwha Kim

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

汉能股价“腰斩”背后:无力偿贷遭斩仓

http://www.yicai.com/news/2015/05/4620565.html

汉能股价“腰斩”背后:无力偿贷遭斩仓

第一财经日报 秦伟 罗琦 2015-05-21 06:00:00

5月20日10时,汉能一众管理层在行政总裁代明芳的带领下,在香港九龙香格里拉酒店召开股东大会。10时15分至10时39分,仅仅24分钟内,汉能的股价出现跳崖式下跌,急挫逾40%,加上10时15分前的跌幅,暴跌47%

汉能薄膜发电(00566.HK)(下称“汉能”)董事会主席李河君曾说,看不懂汉能的人都会输得很惨。谁料,昨日的汉能几近“腰斩”,真的很惨。5月20日10时,汉能一众管理层在行政总裁代明芳的带领下,在香港九龙香格里拉酒店召开股东大会。10时15分至10时39分,仅仅24分钟内,汉能的股价出现跳崖式下跌,急挫逾40%,加上10时15分前的跌幅,暴跌47%。汉能在10时46分发布短暂停牌公告,股票及相关结构性产品自10时40分起已暂停交易。股价报3.91港元/股,共成交1.75亿股,成交金额10.51亿港元。短短70分钟,汉能的市值蒸发了1443.31亿港元。根据香港交易所(00388.HK)资料,截至5月11日,李河君共持有汉能80.89%的股份,这也意味着,李河君身家瞬间缩水1167.50亿港元,折合人民币约934.23亿元。

究竟什么原因导致汉能股价“腰斩”?李河君为什么没有出席股东大会?代明芳中途离座接听的电话说了什么?无论是会议现场还是在网络上,汉能被“腰斩”的话题炸开了锅。了解当天部分交易情况的消息人士对《第一财经日报》记者透露,汉能股价暴跌,“是因无力偿还股票抵押贷款,遭到借款方强制抛售抵押品而引起连锁反应。” Continue reading

Hanergy under SFC investigation for market manipulation after shares plunge nearly 50 percent

http://uk.reuters.com/article/2015/05/20/uk-hanergy-tfp-stocks-idUKKBN0O51EF20150520

http://www.reuters.com/article/2015/05/20/hanergy-idUSL3N0YB3FR20150520

Wed May 20, 2015 1:46pm BST

Hanergy under investigation after shares plunge nearly 50 percent – source

HONG KONG | BY SAIKAT CHATTERJEE AND CLARE JIM

China’s Hanergy Thin Film Power Group (0566.HK) is under investigation by Hong Kong’s market watchdog, a source told Reuters just hours after the company lost half its market value of nearly $40 billion in 24 minutes on Wednesday. Continue reading

汉能急挫近50% CEO股东会接紧急电话; “妖股”汉能今日早盘突现大幅“跳水”,短短半小时时间内,市值缩水近1500亿港元。

http://www.yicai.com/news/2015/05/4620249.html

汉能急挫近50% CEO股东会接紧急电话

一财网 罗琦 2015-05-20 12:21:00

“妖股”汉能今日早盘突现大幅“跳水”,短短半小时时间内,市值缩水近1500亿港元。

港股汉能薄膜发电大跌46.95%停牌

被香港资本市场称为“妖股”的汉能薄膜发电(00566.HK)5月20日上午开盘后,股价突然出现大幅跳水,10点40分,汉能宣布停牌,而停牌前收报3.91港元,短短半小时大跌47%,市值缩水至1631亿港元。 Continue reading

Is Hanergy The Next Yingli Green Energy? Hanergy’s annual general meeting starts at 10AM and the stocks started to sell off 15 minutes later. Hanergy’s chairman Li Hejun, who owns 80% of this stock, was not present at the general meeting

http://blogs.barrons.com/asiastocks/2015/05/19/is-hanergy-the-next-yingli-green-energy/?mod=BOL_hp_blog_astw

http://ftalphaville.ft.com/2015/05/20/2129973/he-had-something-to-do/

May 19, 2015, 10:58 P.M. ET

UPDATE: Is Hanergy The Next Yingli Green Energy?

By Shuli Ren

Chinese thin-film solar manufacturer Hanergy Thin Film (566.Hong Kong) lost one-third of its market value this morning, for no apparent reason other than that it may have been overvalued for a long, long time.

Understanding Hanergy

I sifted through reputable local Chinese media and found nothing damning on Hanergy this morning (Please let me know if you see anything!). Users on China’s microblog Weibosuggested that perhaps Yingli Green Energy‘s (YGE) 45% slump in the last two days have raised alarm bells on Hanergy?

Continue reading

Financial advisory firm deVere Group Hong Kong has had its licence suspended as part of an investigation into its operations by regulators

http://www.scmp.com/print/business/companies/article/1804094/devere-group-has-licence-suspended-following-probe

DeVere Group has licence suspended following probe [1]

Submitted by kerry.nelson on May 19th 2015, 10:46pm

BusinessCompanies REGULATION

Benjamin Robertson Benjamin.robertson@scmp.com

CIB decision follows investigation into financial advisory firm’s sales practices by regulators

Financial advisory firm deVere Group Hong Kong has had its licence suspended as part of an investigation into its operations by regulators. The Confederation of Insurance Brokers (CIB), one of two self-regulated bodies that supervise local brokers, said yesterday it had suspended deVere’s membership until a disciplinary investigation had concluded. Continue reading

Hanergy shares suspended in Hong Kong after plunging 46 per cent, Losing Nearly $19 Billion in 24 Minutes

http://www.bloomberg.com/news/articles/2015-05-20/hanergy-thin-film-power-suspends-trading-after-stock-plunges-47-http://www.scmp.com/print/business/companies/article/1804417/hanergy-shares-suspended-hong-kong-after-plunging-46-centhttp://www.wsj.com/articles/formerly-hot-hanergy-plunges-47-in-hong-kong-1432093944http://www.forbes.com/sites/nathanvardi/2015/05/19/hanergy-shares-suspended-after-crashing-by-47/http://www.ft.com/cms/s/0/c75565be-feac-11e4-94c8-00144feabdc0.html#axzz3aetFkKfE

Mystery Chinese Solar Maker Plunges, Losing Nearly $19 Billion in 24 Minutes

byBilly Chan

May 20, 2015

Hanergy Thin Film Power Group Ltd., the Chinese solar equipment maker controlled by Li Hejun, suspended trading in Hong Kong after the stock plummeted 47 percent in morning trading.

The stock fell to HK$3.91 before the suspension at 10:40 a.m., shaving HK$144.3 billion ($18.6 billion) off its market value, on the day of its annual general meeting in Hong Kong. Chairman Li didn’t attend the AGM, T.L. Chow, the company’s external spokesman, said by phone.

Before today’s decline, the stock had surged more than six-fold in the past year despite questions from analysts and investors about the company’s revenue sources. About 61 percent of Hanergy Thin Film’s sales derive from Beijing-based parent Hanergy Holding Group, the listed company said in March. Continue reading