The planned disposal in excess of a 3rd of this Chinese company that is solar project portfolio would just just simply take an important amount away from its financial obligation hill but trading in business stock ended up being halted today, pending an statement in terms of the task purchase. Shunfeng sold down German PV project monitoring company meteocontrol to another procedure owned by its primary shareholder at the conclusion of this past year.
Shunfeng is among 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 in its stocks this early early morning, pending a statement associated with a fire purchase of approximately 540 MW of the solar task capability.
The business has received a busy time from it since our final upgrade in-may this past year whenever the level of its financial obligation hill had been revealed in 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 major shareholder Cheng Kin Ming has helped relieve some issues and also the business now is designed to offer down 11 of the Chinese solar task organizations to make benefits worth another RMB1.63 billion (US$232 million).
Wuxi Suntech and meteocontrol
The sale of Jiangsu Shunfeng towards the Asia Pacific Resources Development Investment Ltd company owned by Chen Kin Ming in December raised an instantaneous RMB200 million to settle 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 in addition to settling payables worth around RMB65.7 million. (more…)