Solar Panel Maker Suffering HK Share Sell-Off 'Failed to Repay Loans'

(Hong Kong and Beijing) – The solar panel manufacturer whose listed subsidiary has suffered a sell-off of shares in Hong Kong failed to repay bank loans, sources close to the parent company say.

The share price of Hong Kong-listed Hanergy Thin Film Power plunged from HK$7.37 to HK$3.91 – a decline of nearly 47 percent – in the first 70 minutes of trading on May 20.