Hong Kong

GCL project development business has $1.6bn current liabilities deficit

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.

Aug 22, 2019 // Markets & Finance News, China, Hong Kong, Asia, GCL-Poly, China Hua Neng Group Hong Kong Ltd, China Three Gorges New Energy Co Ltd, GCL New Energy, Shanghai Rongyao New Energy Co Ltd

Singyes threatens to pursue winding up costs against Deutsche Bank

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.

Aug 22, 2019 // Manufacturing News, Markets & Finance News, China, Hong Kong, Asia, Comtec Solar, Deutsche Bank, Water Development (HK) Holding Co Ltd

China Power’s Hong Kong business on track for return to China

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.

Aug 16, 2019 // Manufacturing News, Solar, China, Hong Kong, polysilicon, High Court, China Power Clean Energy Development Co Ltd, GCL-Poly Energy Holdings Ltd, Jiangsu Zhongneng Polysilicon Technology Development Co Ltd

Ganfeng Lithium’s Hong Kong-based shareholders rebel

Holders of almost two-thirds of the miner’s Hong Kong listed stock voted down a proposal to issue new non-Chinese shares that would dilute their investment by around a quarter. The board had proposed the move to raise funds for further lithium extraction overseas.

Aug 14, 2019 // Markets & Finance News, China, Hong Kong, lithium, Ganfeng Lithium, Li Liangbin, floated company

Deutsche Bank attempts to wind up Singyes Solar

The German lender has issued a winding up petition over a $6.27 million debt and could scupper the manufacturer’s plans to restructure its defaulted payments and be taken over by a Chinese state-backed entity.

Aug 12, 2019 // Manufacturing News, Plants, Markets & Finance News, Singyes Solar, Germany, Hong Kong, Deutsche Bank AG, Water Development HK, Comtec Solar

China Power clean energy unit to de-list from Hong Kong exchange

The business will come under the control of its Chinese state-owned parent power company after a shareholder vote agreed the move earlier this month.

Jul 25, 2019 // Markets & Finance News, China, China Power Clean Energy Development, China Power, Hong Kong, Asia

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