Saturday, 23 May 2015

Chairman "had something to do", company down USD 19 Billion (2)

For those readers who might not yet fully realize what has happened with Hanergy and who might think there is still hope, Bronte Capital wrote an article with the rather clear title:

"Hanergy: let there be no doubt".

"There has been much press that compares Hanergy to other solar companies and suggests there may be disruptions in the market for panels. Garbage I say. The right comparison is Sino Forest or Longtop Financial Technology.

Hanergy barely existed."

With Sino Forest and Longtop being two of the largest scandals of China-listed companies.

Zerohedge wrote:

"How China's (Formerly) Richest Man Destroyed His Own Fortune When He Tried To Sell A Stock".

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