It was all about China this week with some extraordinary developments at Yingli and Hanergy. It all kicked off at around this point last week when world number two - an epithet that seems very appropriate just now - Yingli followed up its, delayed, annual figures with an SEC filing about the extent of its indebtedness which will have had a similar effect on any financial journalists stuck on the late shift as the first signal of the aliens arriving had on U.S. radar operators in Independence Day. Amidst the sound of coffee being spluttered onto monitors from sea to shining sea, Baoding-based Yingli revealed a short-term debt pile of some $1.63 billion which "could adversely affect our business, financial condition and results of operations, as well as our ability to meet our payment obligations under our debt instruments." That bombshell led to a 40 per cent tumble in the company's share price on Monday and Tuesday - although Yingli wasn't the only Chinese solar stock to tumble thanks to bizarre events elsewhere, which we'll come to presently - and prompted the company's CEO, Liansheng Miao, to refute predictions of his company's demise yesterday (Thursday). Having inexplicably waited four working days to reassure what shareholders were left - memo to Yingli's PR department: I'm looking for work at the moment - Miao purred a statement which amounted to: "Oh not really, we're not worried at all. Money? We've got LOADS of the stuff," before sitting back in his swivel chair and lighting up a wad of $100 bills. His ...Den vollständigen Artikel lesen ...