China Solar executive bailed as fraud investigation continues

November 1, 2013
Facebook
Twitter
LinkedIn
Reddit
Email

China Solar Energy Holdings has released a statement confirming one of the executives facing fraud allegations has been bailed.

The statement to the Hong Kong Stock Exchange, released by China Solar Energy Holdings executive director, Jin Yan states on the 30 October the company received notice of the charges and bail deposits from a family member of the accused Hao Guojun, who was released on 26 October.

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

Trading of the company's shares will continue to be suspended until further notice with caution advised to share advisors and investors.

The company has still not been able to contact any of the three board members and is still not commenting on the nature of the investigation, until it has contacted the charged employees – but further announcements in compliance with court proceedings are promised soon by the statement.

The three employees were arrested by the Public Security Bureau of Dali on the 26 August 2013 for allegedly submitting a false report.

The statement clarifies the current executive directors are Yeung Ngo, Yang Yuchun, JinYan, SunYanfeng and Guo Lijie, and the “non-executive directors” are Hao Guojun and Li Jian and the independent non-executive directors are Yin Tat Man, Fan Chuan, Gu Yizhong and Zhang Jing.

The company, which has lost some 93% of its value since 2007, said it had been unable to contact its chairman and executive director, Yeung Ngo, and two of its directors, Yang Yuchun and Hao Guojun, since the end of August, when they were arrested.

Read Next

October 22, 2025
Recurrent Energy, Ampliform and Dimension Energy have announced new financing rounds this month for US solar projects.
Sponsored
October 22, 2025
LONGi vice president Dennis She discusses the value logic behind the company's strategic focus on back contact technology.
October 22, 2025
Leeward Renewable Energy has started commercial operations at its 177MW Ridgely solar project in the US state of Tennessee.
October 22, 2025
Utility giant Engie has signed a 15-year renewable energy power purchase agreement (PPA) with tech giant Apple in Italy.
October 22, 2025
US thin-film manufacturer First has revealed another transfer of its 45X manufacturing tax credits in a deal worth around US$750 million.
October 22, 2025
Abigail Ross Hopper, the president and CEO of US trade association the Solar Energy Industries Association (SEIA), has decided to step down from her roles at the end of January 2026.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany