Hanergy, the Chinese solar group, has warned against over-interpreting the unexpected resignation of the group’s founder and controlling shareholder, Li Hejun, from its listed unit.

Hong Kong-listed Hanergy Thin Film Power said late on Friday that Mr Li had resigned as chairman of the board and executive director “for the reason of strengthening corporate governance”. His right-hand man, Frank Dai Mingfang, also resigned, “for the reason of focusing on other business development”. The moves came after the annual board meeting.

But over the weekend, Hanergy Group said that Mr Li remained in charge of the parent company. “Media should not over-interpret” his resignation from the listed unit, the group said, though it gave no further explanation.