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Shunfeng halts dealing in front of 540 MW task capability purchase

Samstag, Mai 9th, 2020

Shunfeng halts dealing in front of 540 MW task capability purchase

The planned disposal of greater than a 3rd associated with Chinese solar company’s task portfolio would just simply simply take an important chunk away military cupid profile examples from its financial obligation mountain but trading in business stock ended up being halted today, pending an statement in terms of the task sale. Shunfeng sold down German PV project business that is monitoring to another procedure owned by its primary shareholder at the conclusion of this past year.

Shunfeng is among the Chinese developers that are solar across the cash in an attempt to keep carefully the wolf through the door.

Chinese company that is solar Global Clean Energy announced a halt in trading in its stocks this morning, pending a statement associated with a fire purchase of approximately 540 MW of its solar task ability.

The business has already established a busy period from it since our final enhance in-may year that is last the degree of the financial obligation mountain had been revealed in its full-year numbers for 2018.

Since that time, a proposed sale of the Jiangsu Shunfeng Photovoltaic tech Co Ltd to a company owned by Shunfeng shareholder that is major Kin Ming has helped relieve some issues together with business now is designed to downer down 11 of its Chinese solar project organizations to make benefits well worth another RMB1.63 billion (US$232 million).

Wuxi Suntech and meteocontrol

The purchase of Jiangsu Shunfeng towards the Asia Pacific Resources Development Investment Ltd company owned by Chen Kin Ming in December raised a sudden RMB200 million to repay RMB24.7 million debts owed by Shunfeng to Shanghai Dazong Financial Leasing Co Ltd, COSCO Shipping Leasing Co Ltd and Cinda Financial Leasing Co Ltd and in addition paid other financial obligation interest of RMB110 million in addition to settling payables worth around RMB65.7 million. (mehr …)