Hanergy Thin Film, the Chinese solar company whose surging value turned its owner into China’s richest man, has warned it could post a loss for the first half of the year.
Having grown at breakneck speed to become the world’s most valuable solar group. HTF shares have been suspended since spectacularly collapsing in May, when more than half of the company’s near $40bn market value was lost in less than an hour of trading.
HTF, listed in Hong Kong, said on Sunday that due to it suspending contracts with its mainland Chinese parent company it would suffer a drop in income from these deals of 90 per cent to HK$200m (US$26m), potentially leading to a loss.
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