A $585 million equipment and services deal between the heavily-scrutinized Hanergy Thin Film and its equally-probed parent company, Hanergy Holding, has been terminated, according to the SCMP.
The sale was announced weeks before HTF stock’s dramatic fall, and its cancellation should stoke the fires of scrutiny once again since the majority of Hanergy Thin Film’s revenues come from sales and services billed to its parent, Hanergy Holding, as well as to their affiliates.
An investigation by the SFC into the group’s inner workings is still under way.
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