World set to install 593 GW of new solar in 2024 - Ember
Sep 19, 2024 13:28 CESTBillionaire Li Hejun, chairman of Hanergy Thin Film Power Group Ltd (HKG:0566) until May 2016, has been barred from taking part, directly or indirectly, in the management of any corporation in Hong Kong for eight years.
The Securities and Futures Commission (SFC) has obtained Civil Court Orders to stop Li and four independent non-executive directors of the solar company from managing Hong Kong businesses for different periods, it was announced on September 4. Zhao Lan and Wang Tongbo got bans for four years, while Xu Zheng and Wang Wenjing got three years.
An investigation into Hanergy Thin Film (Hanergy TFP) and its management by the SFC started in the summer of 2015. The company, which makes equipment and turnkey production lines for thin-film solar modules and also develops solar projects, has been suspended from trading on the Hong Kong bourse since May 2015.
The Court held that Li’s breaches of duties, which “were of a very serious nature”, were not the result of incompetence or negligence only. “There was a clear conflict of interests situation and Li plainly preferred the interests of Hanergy Holding and affiliates to that of Hanergy [Thin Film Power],” the SFC statement on Monday says.
Li has also been ordered to procure Hanergy Holding Group and affiliates to pay all outstanding receivables due to Hanergy TFP under various sales contracts.
World set to install 593 GW of new solar in 2024 - Ember
Sep 19, 2024 13:28 CESTIEA urges proactive measures to integrate renewables
Sep 18, 2024 11:17 CESTTigo Energy claims Chinese firm infringes on rapid shutdown patent
Sep 06, 2024 9:46 CESTWorld expected to install 592 GW of solar modules in 2024 - BNEF
Sep 02, 2024 12:30 CESTJinkoSolar reports 22% y/y drop in revenue despite higher shipments
Aug 30, 2024 16:16 CESTBlueFloat, China’s Dajin to partner on floating wind supply chain
Sep 19, 2024 15:04 CEST