Categories: CommentarySolar

Hanergy shares tumble as doubts cloud thin-film solar business model

Published by

PV Magazine

Hanergy Thin Film Power has seen 47 per cent wiped off its share price, after the company chairman and major shareholder Li Hejun did not attend the company’s AGM. The Financial Times reports that trading on Hanergy TF shares was halted after having fallen from HK$7.32/share (US$0.94) to HK$3.91 ($0.50).

Doubts surrounding Hanergy’s business model and soaring share price have lingered for some months. In a sign of the fragility of its solar market-leading share price, Hanergy shares went tumbling today after news that company chairman and majority shareholder Li Hejun, did not attend the company’s AGM.
Hanergy CEO Frank Dai Mingfang and finance director Eddie Lam did attend.

FT obtained a comment from Hanergy on the matter:

“Chairman Li did not attend the AGM,” said a representative for Hanergy. “He had something to do.” The company chairman did not provide comment himself.

The FT has found itself as a key voice skeptical of Hanergy’s strong sharemarket performance after picking up on market analysis that raised serious questions about the company’s reliance on selling between subsidiaries and its largely unproven suite of thin film technology. BNEF has also recently published a note expressing skepticism about Hanergy’s prospects in the PV market.

At the SNEC trade show last month in Shanghai, Hanergy TF took out an enormous booth space, erecting a double story structure capable of accommodating hundreds. Hanergy refused pv magazine’s request for interview at the SNEC.

Share
Published by

Recent Posts

Landmark deal to power “AI factories” underwrites much-needed big battery on Australia’s most renewable grid

Australian "AI factory" developer inks 12-year deal to buy firmed electricity for its data centre…

30 June 2026

“Can’t hire our way out:” Fortescue backs bid to train sparkies, electrify mining

Andrew Forrest's mining company collaborates with two TAFE branches to address a critical shortage of…

30 June 2026

Singapore renewables developer makes billion-dollar boost to Australian solar and battery plans

Singapore-based renewables developer raises more than $1 billion in green financing facilities to support solar…

30 June 2026

State EPA waves through Gina Rinehart’s new gas plant, refers cockatoo question to mining department

State EPA defers native tree clearing decisions to the department of mines for the new…

30 June 2026

HMC unveils new-look energy development arm to advance pipeline of “fully funded” projects

HMC Capital has settled on a name for its growing portfolio of energy assets and…

30 June 2026

Australia’s abundance of renewables can power future industry – but we need it resilient and we need it fast

In a future dominated by renewables, Australia can remain an energy powerhouse. But to be…

30 June 2026