Hanergy chair more than doubled short position in half-year before share price plunge

Hanergy Thin Film Power Chairman Li Hejun more than doubled his short position on his own company’s shares in the six months before its precipitous crash last Wednesday wiped out 47% of its value in just the first 70 minutes of trading, South China Morning Post reported, citing the chairman of financial data provider Asia Insider, Robert Hailili. Hailili, who also writes a column for the Post, said regulatory filings showed Li had increased his short position by 123% since late December last year to 7.71% of Hanergy’s issued capital. Reuters reported on Wednesday that the Hong Kong Securities and Futures Commission had been investigating Hanergy for alleged market manipulation.