Cancelled or suspended deals cloud Hanergy outlook

Hong Kong

HANERGY Thin Film Power Group Ltd (HTF), which is being probed by Hong Kong regulators after its stock suddenly plunged, will have to convince shareholders about its outlook after it cut ties with its parent, which last year alone bought about two-thirds of its solar panel making equipment.

HTF, whose valuation peaked at US$48.5 billion in March only to plunge by nearly half in less than one hour two months later, has already warned the unravelling of these contracts may result in a first-half net loss, which would be its first since 2009.