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GCL reveals it lost 865 million shares in New Energy business over loan disagreement

The Chinese polysilicon manufacturer said it only discovered this month that the stock in its solar project division – which it had pledged to secure a $60 million loan which GCL says was never delivered – had been claimed by the lender a year ago, on the grounds the finance agreement had been breached.

GCL auditor resigns over silicon project pre-payment probe

Deloitte has walked away from the polysilicon manufacturer, despite the latter having followed the accountant’s recommendation to appoint a third party to investigate why a near-$80 million payment was made in September 2019. Apparently the parties could not agree the detail of the investigation to be carried out.

GCL confirms thumping annual loss for 2020

The polysilicon maker lurched from a $17m profit in 2019 to a $960 million loss last year, according to an unaudited extract from its overdue annual figures. Publication is being held up by an auditor enquiry relating to a $71m abandoned-production-project pre-payment which appears to be either owed by, or to, a GCL subsidiary.

US start-up secures distribution agreement for nickel-hydrogen battery technology

EnerVenue signed its first major distribution agreement with Hong Kong’s Towngas. The deal will pilot the company’s nickel-hydrogen battery technology and serve as an audition for future deals to come.

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GCL auditor raises issue with accounts

Trading in the Hong Kong-listed company stock, which was supposed to resume this morning following publication of the overdue 2020 figures, remains suspended.

Further hitch in GCL-Poly annual results

The poly making parent company says it needs extra time to finalize its 2020 figures so trading in the stock appears likely to remain suspended for the rest of the week. GCL is due to complete the paperwork related to a proposed debt restructure this month.

Xinte highlights Chinese polysilicon ‘oligopoly’

The TBEA-owned poly manufacturer has predicted further consolidation as it aims to ramp up output with another 100,000 tons of annual production capacity.

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GCL eyeing near-800 MW solar project sell-off to state-owned Three Gorges

The polysilicon maker and solar developer saw its shares suspended from trading this morning after missing the deadline to publish its annual report but has been busy with more planned PV project sales.

Shuifa Singyes reports annual results

The bailed-out solar company has seen its fortunes reverse since state-owned Shuifa rode to the rescue but it still has some assets frozen as the result of civil cases.

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Chinese utility pitches energy transformation credentials

The fossil fuel assets belonging to the state-owned parent of China Power International Development might overshadow the latter’s green claims but the Hong Kong-listed utility said it reached full operation at 940 MW of solar farms in 2020–more than half of it unsubsidized.

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