![]() ![]() Two e-mails found by PwC in Trony’s computers advise Sung was Che’s partner during slightest from Jan 2011 to Feb 2012.Ĭhe was an eccentric non-executive director, in a purpose designed to guard Trony’s corporate governance, between Sep 2010 and Feb 2013.Ĭhe is a former authority of Hong Kong-listed red-chip transport group and hotel user China Travel International Investment HK. Trony’s house after found “possible discrepancies” in a books and motionless in Jun 2012 to hindrance a shares from trade and control a debate examination of a books. They also purported that Trony’s financial statements published before and after a initial open charity in Oct 2010 were doctored, as were a taxation remuneration annals supposing to Deloitte. The allegations were contained in unknown e-mails and a minute sent in Mar and Apr 2012 to Trony’s auditor Deloitte Touche Tohmatsu. Still, Trony pronounced PwC’s commentary suggested that Sung Goji, an partner to eccentric non-executive executive Che Shujian, was a executive of a association shopping a products as good as owners of a retailer that allegedly supposing fictitious information about a sell with Trony. Having spent a year on margin inquisitive work and 15 months to accumulate a findings, PricewaterhouseCoopers found 3 sets of accounting books with significantly opposite figures, a solar apparatus builder pronounced in a new batch sell filing on a commentary of a debate accounting examination looking into probable discrepancies in a financial records.īut PwC was incompetent to interpretation that set contained a genuine total as a ancillary papers for sell had left missing, electronic information had been deleted and tip managers claimed they did not know anything. Net income was RMB 85.5 million for fiscal 2008, and RMB 5.2 million for fiscal 2007.Several sets of books with varying figures, blank computers, erased data, indeterminate clients and suppliers – a irregularities during Trony Solar Holdings, whose shares were dangling from trade in Jun 2012 – are a things of a regulator’s nightmare. Trony posted RMB 164.9 million in net income for the fiscal year ending June 30 this year. The company generated RMB 451.5 million for the fiscal year ending June 30 this year, up from RMB 272.8 million in the 2008 fiscal year, and $26.2 million in the 2007 fiscal year. A recent on-grid project that used Trony's panels was a 1-megawatt array in South Korea. It's expanding to on-grid market as well. ![]() The company began production in 2006 and focused on the off-grid market. From June to September, the company lowered the cost to $1.09 per watt. Its manufacturing cost was $1.15 per watt for the fiscal year ending June 30 this year. ![]() Trony makes amorphous-silicon solar panels, and had the manufacturing capacity of 115 megawatts per year by the end of August this year, said its SEC filing. market hasn't seen a solar IPO for more than a year. Trony's filing came about a week after another solar company, Specialized Technology Resources (STR) in Connecticut, said it intends to raise up to $212.2 million. The company hasn't disclosed how many American depositary shares it plans to offer, or the pricing. The company wants to be listed under the symbol "TRO" on the New York Stock Exchange, according to the company's filing with the Securities and Exchange Commission Friday. Trony Solar is seeking to raise up to $200 million through an initial public offering in the United States. ![]()
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