Shunfeng halts dealing in front of 540 MW task ability purchase

Shunfeng halts dealing in front of 540 MW task ability purchase

The planned disposal in excess of a third of this Chinese solar company’s task portfolio would simply just simply take an important amount away from its financial obligation hill but trading in business stock ended up being halted today, pending an announcement in terms of the task purchase. Shunfeng sold off German PV project business that is monitoring to another procedure owned by its primary shareholder at the conclusion of this past year.

Shunfeng is just one of the Chinese developers that are solar across the cash in an attempt to keep consitently the wolf through the home.

Chinese company that is solar Global Clean Energy announced a halt in trading with its shares this early morning, pending an announcement linked to a fire purchase of approximately 540 MW of the solar task capability.

The business has received a busy period from it since our final upgrade in-may year that is last the degree of its debt hill had been revealed with its full-year numbers for 2018.

Ever since then, a proposed sale of its Jiangsu Shunfeng Photovoltaic tech Co Ltd to a small business owned by Shunfeng shareholder that is major Kin Ming has helped ease some issues therefore the business now aims to downer down 11 of its Chinese solar project businesses to make benefits well well worth another RMB1.63 billion (US$232 million).

Wuxi Suntech and meteocontrol

The purchase of Jiangsu Shunfeng towards the Asia Pacific Resources Development Investment Ltd company owned by Chen Kin Ming in December raised a sudden RMB200 million to repay RMB24.7 million debts owed by Shunfeng to Shanghai Dazong Financial Leasing Co Ltd, COSCO Shipping Leasing Co Ltd and Cinda Financial Leasing Co Ltd and also paid other financial obligation interest of RMB110 million also settling payables worth around RMB65.7 million.

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