Hubei New Huaguang Information Materials Co., Ltd., a Chinese-based optical glass and photovoltaic battery module manufacturer, announced on 20 July 2007 that the company board approved the sale of it…
Hubei New Huaguang Information Materials Co., Ltd., a Chinese-based optical glass and photovoltaic battery module manufacturer, announced on 20 July 2007 that the company board approved the sale of its 51% stake in a local manufacturer of solar panel glass cover sheets for CNY 6.8 million to another local firm. The company said its losses from the transfer of the stake are expected to reach CNY 1.5706 million (excluding income tax). Strong domestic competition had forced the company to sell the stake it owned in the subsidiary, which has not been in production since 2006, industry experts said.