Chinese solar panel maker Hanergy Thin Film Power Group Ltd posted a HK$12.23 billion ($1.58 billion) loss in 2015, after a tumultuous year in which the Hong Kong securities regulator launched a probe into the firm. Full-year revenue for 2015 fell more than 70 percent to HK$2.81 billion, the firm said in a filing to the Hong Kong stock exchange late on Thursday. The net loss compared with a HK$3.2 billion profit a year earlier.
Shares in Hanergy Thin Film tumbled nearly 50 percent in only a few minutes last May on news that it was under investigation by Hong Kong's market watchdog. Before the crash, the firm's stock had staged a spectacular five-fold rally over nine months. Hanergy said on Thursday the ongoing investigation by the Securities and Futures Commission (SFC) had had a significant affect on its business and it was seeking legal advice to address the watchdog's concerns. The firm aimed to resume trading, which was suspended last May, as soon as possible.
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