Hanergy Sells Five Subsidiaries for a Income of ￥700 Million for Enriching Itself - SolarStar

With the opening of stock markets between Shanghai Hong Kong, Hanergy  Thin-film  Generation receives more more inl investment,which benefits the company a lot raises the share price at the same time.As a result,the share of Hanergy Thin-film Generation becomes one of the most eye-catching individual shares in HK stock market.

A recent announcement of Hanergy Thin-film Generation shows that the company will earn more than ￥700 million by a one-time sale of five subsidiaries.It will also help to exp both inl overseas business.

An accumulative increasing to 180% this year

Although Hanergy Thin-film Generation is not well known in inl investment markets,as a kind of HK stock an energy company,it catches more more investors"" eyes after opening the stock markets between Shanghai Hong Kong.

Considering the opening of stock markets on November 17th the increasing amount of inl investments,some journalists think Hanergy Thin-film Generation will develop more rapidly in the future.Especially,the share of it was firstly listed in ten active shares on December 3rd.After that,the stock became one of the most active individual stocks in single-day transaction for several times.To our surprise,the company was not famous before the opening of stock markets,but one month later,its individual share price has created the sharpest rise has raised by 53.07%.Currently,the price is HK$2.72.If the state is kept in the whole year,the share price will be expected to raise by 180%.

In fact,the stock market program has been launched since September this year.Before the opening of stock markets,major shareholders spent HK $20.32 million on increasing the price of 16 million shares of the long position in the company.On the same month,the company announced to cooperate with IKEA closely,which was beneficial to expend the business to more countries.One month later,the stock price rose by 42.86%.

The company earned 700 million yuan by a one-time sale of five subsidiaries

On Wednesday (December 24)evening, Hanergy Thin-film Generation announced that the company completed the one-time sale of five subsidiaries with all the equity to Beijing Hongsheng,including Qinghai Hanergy Investment four subsidiaries of Xinjiang Hanergy Investment(Jimusaer Hanergy,Hami Hanergy,Fuhai Hanergy Kuerle Hanergy).

Reporters noted that all the above five companies are the owners of local specific grid-connected PV  power plant project.All those power plantswere built up after July 2013.Most of the power plants are still under construction are close to completion.So,those company has not yet put into operation has not received benefitby October 31 this year.

According to the calculation of the unverified net assets value in those five subsidiaries by October this year,Beijing Hongsheng bought each of four subsidiaries for ￥86.4 million more than the net assets value costed ￥432 million more than the price given by Qinghai Hanergy.After the sale,Hanergy Thin-film Generation will gain a benefit of ￥777.6 million.

It is announced that Beijing Hongsheng,as the buyer,is a limited partnership company established in Beijing focuses on the investment in PV field.

The company decides to use thenet earningas general operating funds for the future improvement of the thin-film generation business.At the same time,the sale will also accelerate the development of downstream business in the company.