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Solar giant's HK shares fall by almost 50%

CCTV.com

05-21-2015 05:38 BJT

China's biggest solar energy company, Hanergy, has taken a major hit on the stock market. Its Hong Kong listed shares tumbled almost 50 percent Wednesday, prompting trade to be suspended.

The suspension of trading came as small investors voiced doubts about Hanergy's future prospects at a shareholders meeting. The company has so far refused to comment on the stock plunge.

Some media reports have recently highlighted concerns over Hanergy's business model and previous stock market performance.

Hanergy chairman Li Hejun once topped the Forbes-China rich list, but his fortune has since shrunk by more than 90 billion Hong Kong dollars, as the company's fortunes have waned.

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