In early May, the troubled company’s Beijing-based parent, Hanergy Holding, said it would buy 900MW of silicon-based, BIPV manufacturing equipment from wholly owned group unit Fujian Apollo for roughly $175m. An additional agreement to provide technical services had been valued at $409.5m.
The decision to cancel the internal transaction — a common group practice that has been repeatedly questioned in the past — was reached following “arm’s length negotiations,” HTF said in a statement to the Hong Kong stock exchange.
It
