Posted on 05/21/2015 5:33:35 AM PDT by Red in Blue PA
The woes of China’s solar industry deepened in recent days as one panel manufacturer lost nearly half its market capitalization and another said it might be forced to close down.
Shares in Hanergy Thin Film Power Group Ltd. , whose meteoric rise had troubled industry watchers, nearly halved in value Wednesday before trading was halted. The 47% plunge, to 3.91 Hong Kong dollars (50 U.S. cents), wiped US$18.6 billion from Hanergy’s market capitalization. The company declined to comment on the fall—which came during its annual shareholders’ meeting in Hong Kong—but said it would make an announcement later in the day.
(Excerpt) Read more at wsj.com ...
60% of revenues were to the Chinese “parent company”. What could possibly go wrong?
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