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Hong Kong exchange

Poly and wafer price rises helped GCL with debt pile, seven-months-overdue figures indicate

The polysilicon manufacturer and solar project developer has finally managed to publish the annual figures for 2020 and appears to be placing a lot of faith in its less-energy-intensive granular silicon product. In the meantime, though, another debt repayment deadline is looming within a fortnight.

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GCL has no record of performing due diligence on lender which walked away with $120m of its stock

An investigation into internal controls at the polysilicon maker found the company permitted deals to be signed off solely on paper in certain circumstances and also unearthed no evidence anyone had done their homework before handing over 865 million shares to secure a loan which, GCL says, never materialized in full.

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.

Shuifa playing central role in bailing out distressed Chinese PV developers

The state-owned construction business which saved Singyes Solar with a US$200 million bail-out is now preparing to invest in a 75% stake in debt-saddled peer China Solar, whose shares have been unlisted since August 2013.

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Comtec forced into shares consolidation

A falling share price has put the Chinese developer at risk of breaching requirements to maintain its Hong Kong listing. Shareholders are set to vote on consolidating their stock next month.

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