GCL-Poly making polysilicon at a loss as it piles up $3.36bn more in liabilities than assets
With the company’s up-for-sale project development business revealing extensive debt concerns yesterday morning, that revelation is only half the story.
GCL project development business has $1.6bn current liabilities deficit
The opening pages of the first-half update published on the Hong Kong exchange made all the right noises with the company set to be acquired by a Chinese state-owned entity. But the balance sheet makes for shocking reading.
Singyes threatens to pursue winding up costs against Deutsche Bank
The heavily-indebted Chinese BIPV manufacturer has warned the petition issued by the German lender to recover a disputed $6.27 million debt could threaten the survival of the business as it would halt a planned bail-out by Beijing.
Comtec Solar investors burned by falling stock price
Two subscribers who signed up to a 20% discounted shares subscription in mid June ended up yesterday paying almost the same percentage as a premium on the trading price of the stock.
Hanergy Thin Film set to lose crucial hydropower project stakes – which could be auctioned off to Hanergy Mobile Energy
Troubled thin film manufacturer Thin Film will see a 51% controlling stake in a hugely profitable hydropower project auctioned off after a move by creditors. Hanergy Thin Film owner Li Hejun’s Hanergy Mobile Energy business in China says it will be among the bidders.
Singyes finally publishes details of last year’s annus horribilis
The collapse in business for the solar EPC provider after last year’s 5/31 policy announcement by Beijing has left the company’s future depending on the progress of a Chinese state bail-out. Provided that is, the business does not end up being wound up by Deutsche Bank first.
China Power’s Hong Kong business on track for return to China
The High Court has approved plans for the Chinese state-owned power company to reassume control of its Hong Kong-listed solar project development business.
Ganfeng Lithium’s Hong Kong-based shareholders rebel
Holders of almost two-thirds of the miner’s Hong Kong listed stock voted down a proposal to issue new non-Chinese shares that would dilute their investment by around a quarter. The board had proposed the move to raise funds for further lithium extraction overseas.
Deutsche Bank attempts to wind up Singyes Solar
The German lender has issued a winding up petition over a $6.27 million debt and could scupper the manufacturer’s plans to restructure its defaulted payments and be taken over by a Chinese state-backed entity.
Debt-saddled Panda Green and Singyes wait on Chinese state-backed bailouts
With Singyes having already announced a plan to receive a cash injection and restructure its debt, fellow Hong Kong listed solar developer Panda Green today announced plans for a Beijing coal power company to ride to its rescue.
