Hanergy Group founder Li Hejunhas upped his holding in the company’s Hong Kong-listed solar business, signalling confidence in its prospects even after a 180 per cent share price rise this year — and netting a $4.8m paper profit in less than a week.
Hong Kong-listed Hanergy Thin Film has come under scrutiny in recent months because of its soaring share price and the high level of sales to its own parent company. Shares in HTF have now climbed 350 per cent in six months, making the solar equipment supplier the best performer in Hong Kong’s Hang Seng Composite index.
But, in the past week, Mr Li has spent $33.9m (HK$264m) buying more HTF shares at between HK$6.9 and HK$6.92, according to regulatory filings with the Hong Kong Stock Exchange.
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