(EQS-News / 07/05/2015 / 10:19 UTC+8) Market Insights: SAFE and Global Funds Bought Stake in Hanergy in New Energy Push A share market violates in the early May. The market believes that Chinese Central government would just like to prevent A share market too crazy, it still support a gradual bull market for A share and the recent correction is healthy. Solar energy enjoys a glowing outlook. To see the opportunities, BlackRock, a global investment management, risk management and advisory services company, and world-renowned sovereign fund bought stake in Hanergy Thin Film Power Group Ltd (0566.HK). At March 31, 2015, Blackrock's AUM was $4.774 trillion. According to Bloomberg news earlier reported, the investment arm of China's foreign-exchange regulator bought a stake in Hanergy Thin Film Power Group Ltd. as it adds alternative-energy assets to its portfolio. SAFE Investment Co. bought a stake that's less than 5 percent and worth billions of Hong Kong dollars which has not been publicly disclosed. The main reason is the prospect of its development of green clean energy industry, but also the national strategic industry. The Chinese government placed the important role on the energy production and consumption revolution and energy security issues. In June 2014, Chinese president Xi Jinping had personally presided over the Central Financial Work Leading Group meeting to study the energy security strategy. Hanergy Thin Film Power Group Ltd, formerly Hanergy Solar Group Limited, is an investment holding company. The company, along with its subsidiaries, is engaged in producing equipment and turnkey production lines for manufacture of amorphous silicon based thin film solar photovoltaic modules. Hanergy's market value of $39 billion is higher than all other listed Chinese solar companies. The market expects with china capital gradually moved south to participate in the Hong Kong stock funds, these funds are expected to become the driving force of Hanergy in the future. End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=YPPKHRJYRA Document title: HANERGY TFP: Market Insights - SAFE and Global Funds Bought Stake in Hanergy in New Energy Push =-------------------------------------------------------------------- Key word(s): Miscellaneous 07/05/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com =-------------------------------------------------------------------- 354189 07/05/2015 UTC+8
(END) Dow Jones Newswires
May 06, 2015 22:19 ET (02:19 GMT)
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