CRI听力:Hong Kong Securities Watchdog Requires Hanergy Shares to Stay Frozen

The undated photo shows a research center of Hanergy, China's thin-film solar panel maker, locate in Changzhou city, Jiangsu province. [Photo: hanergy.com]  

The securities watchdog in Hong Kong has asked the city's exchange to suspend all dealings in the shares of Hanergy Thin Film Power Group immediately.

According to the announcement from Hong Kong Securities and Futures Commission (SFC) yesterday, Hanergy's stock cannot resume without its approval.

Hanergy, a solar-power technology manufacturer based in the mainland is being investigated by the SFC after a stock price crash on May 20 saw the company's value of $40 billion slashed in half after just 24 minutes of trading.

The SFC launched their investigation into the company on May 28.

Earlier this year, Hanergy's shares surged more than 310 percent, giving the company the biggest market capitalization among thin-film solar power companies worldwide.

For more on Hanergy's delisting in the Hong Kong exchanges, CRI's Zhao Yang earlier spoke with Einar Tangen, Former Chairman of the State of Wisconsin's International Trade Council.