Hareon Solar’s main manufacturing subsidiary forced into bankruptcy liquidation

Facebook
Twitter
LinkedIn
Reddit
Email
Hareon Solar’ accumulated losses in the first three quarters of 2018 were RMB 1.048 billion (US$152.7 million), while debts with financial institutions stood at RMB 3,174.4 million (US$462.6 million). Image: Hareon Solar

China-based PV module manufacturer Hareon Solar Technology Co has reported that its main manufacturing subsidiary, Jiangyin Xinhui Solar Energy Co has been forced into bankruptcy liquidation, due to bad debts in the People's Court of Jiangyin City, Jiangsu Province.

PV Tech previously highlighted Hareon Solar had suffered major financial issues before reporting a net loss in 2017 of approximately US$707 million after losses were reported every year since 2012.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The manufacturing operations had been idled earlier in 2018, due to major liquidity issues.

Hareon Solar’ accumulated losses in the first three quarters of 2018 were RMB 1.048 billion (US$152.7 million), while debts with financial institutions stood at RMB 3,174.4 million (US$462.6 million). 

Hareon Solar’ accumulated losses in the first three quarters of 2018 were RMB 1.048 billion (US$152.7 million).

Overall operating income had plummeted in 2018, due to the major liquidity issues. Operating income in the first nine months of 2018, declined 67% to RMB 785.2 million (US$114.2 million). The company continues to receive revenue from PV power plants in Europe.

Operating income in the first nine months of 2018, declined 67% to RMB 785.2 million (US$114.2 million).

Court cases are ongoing and pending with a number of Hareon Solar’s China-based subsidiaries, which include PV power plants, said to total over RMB 380 million (US$55.4 million), according to statements. 

10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.
October 9, 2025
The Australian government has announced the results of the fourth Capacity Investment Scheme (CIS) tender, with 6.6GW of renewables awarded long-term contracts.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK