China-based PV manufacturer and project developer Hareon Solar Technology said in a financial filing that it expected to report a small profit in 2015, avoiding delisting from the Shanghai Stock Exchange (SSE) in the process after stemmed three years of consecutive losses.
Hareon Solar said that preliminary unaudited figures indicate the company could achieve profits of RMB60 million to RMB140 million (US$9.12 to US$21.29 million) in 2015.
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Speculation had continued for many months over whether Hareon Solar would turn to profitability and avoid the SSE warnings of being delisted, which were compounded by the breakdown in a 930MW deal with United Photovoltaics Group and demand the return of a US$64 million deposit on failure to meet project timescales.
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