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China Minsheng Banking

Indebted Chinese developer spells out obligations in unaudited figures

Covid-19 has left Shunfeng International’s accountants unable to publish its official 2021 numbers on time, but its estimated figures announced a net current liability of almost $155 million and a “capital deficiency” of near $140 million.

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Shunfeng set to sell off another 130MW of solar farms

The developer is aiming to resume trading in its stock tomorrow ahead of a shareholder vote this month which could remove more than half of the $220 million it owes creditors in overdue payments.

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Chinese solar developer suspends trading in stock

Heavily-indebted Shunfeng International could be set for another big sell off of solar assets as it tries to pay down a near-$300 million overdue debt pile.

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Shunfeng misses deadline to settle 2016 corporate bond

The company is planning another sell-off of solar projects, with two solar farms with a total generation capacity of 93 MW earmarked for divestment to state-owned China National Nuclear Power – provided the sites can come up with their rent arrears.

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Shunfeng set to offload another 190 MW of solar capacity to pay debts

The proposed sale of seven solar farms in China will raise more than $80 million for the heavily indebted developer, which this morning confirmed trading in its stock had resumed after a nine-day hiatus.

Overdue subsidy payments force Chinese solar developer to sell off prized LED business

Shunfeng International wants shareholders to wave through the sale of a business unit which offered a rare positive update in its last set of annual accounts. The parent wants to accept an offer for the operation from a company controlled by one of the directors of the seller.

Chinese solar developers scramble to pay down debts

Shunfeng International is already overdue on debts of $381 million and a deadline for investors holding GCL-Poly senior notes worth $500 million to agree to postpone payment is due to expire today as the company prepares to vote on a $309 million, 430 MW solar project sell-off.

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