Hanergy Thin Film, the Hong Kong-listed solar company whose soaring stock briefly turned its owner into China’s richest man, has reported a HK$12.2bn (US$1.5bn) loss for 2015.
The company, whose shares are suspended during an investigation into its finances by Hong Kong’s stock market regulator, reported that revenues over last year fell to HK$2.8bn from HK$9.6bn, reports Miles Johnson in London.
Last year the Financial Times ran a series of investigations into HTF’s business model and accounting, which relied almost entirely on selling equipment to its parent company in mainland China.
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