China-based silicon thin-film manufacturer, Trony Solar which had its shares halted on the Hong Kong stock exchange due to accounting anomalies last year, said in a stock market filing that its audit committee dealing with the accounting issues had resigned.
Trony Solar had been loss making through the 2012 scheduled financial reporting period and had posted losses in through the second-half of 2011, due to severe pricing pressure and weak market demand for its wide range of thin-film substrates and module.
All three non-executive directors, Mr. Lai, Prof. Woo and Mr. Che were said to have resigned “due to inadequate time to handle the duties as an independent non-executive Director because of the heavy workload being a member of the Independent Review Committee,” which was handling the counting anomalies.
Trony Solar said in a statement that it planned to fill the vacancies within the next three months to regain compliance with stock market rules and continue the investigation.
The trading in Trony Solar’s share remains blocked.