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.
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.
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.
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.
The module manufacturer and project developer struck a bullish tone as it announced further project sales, higher module selling prices, a transition to entirely PERC module output and ramped up production capacity.
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.
URE Energy repeatedly missed deadlines to settle a £209,000 bill after it failed to source enough of the electricity it supplied two years ago from renewable generation.
The VDMA says Europe can restart a solar production sector that can compete on price with Chinese imports by reducing transport costs – provided a Euro supply chain can be established.
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