Anwell: Co has secured long-term govt funding of Rmb700m for subsidiary, with Rmb200m in cash and a Rmb500m guarantee for bank financing from the municipal govt in An Yang City, Henan. Co intends to use the funds to ramp up production capacity for solar manufacturing. Co is also in discussion with local govt of another city in China for funding of its 2nd solar panel production plant…
However, the solar index in US has lost 25% since its high on 18 Feb and has twice the 60-day volatility of S&P 500. Solar stocks have attracted short-selling due to bets that profits will be affected from glut of Chinese panels and shrinking demand in Europe. Anwell is still loss-making as of last quarter, with net loss of approx HK$18.6m.
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