In 23 minutes, he lost 13 billion euros

On the morning of May 20, nothing foreshadowed some disappointment for the title Hanergy. Over the past twelve months, the group's actions had indeed jumped 664%. But at 10:17 a.m., a large sell order sent to the Hong Kong market, as reported by the website of Le Monde. This is the beginning of a chain reaction since a number of investors had programmed by computer to part with their shares in case of fall of the course. Within seconds, the title loses 25%. At 10:40 a.m., the quotation is suspended Hanergy has lost 47% of its value in 23 minutes.
Suddenly, Li Hejun, which holds three quarters of the capital of his society Hanergy, the equivalent of 28 billion euros, has lost 47% of his fortune.
The situation might have taken a different turn if Li Hejun hadn't brushed the general meeting of shareholders, which fed the rumors that the group was subject to an investigation into his practices. In fact, the billionaire had simply preferred to speak in Beijing for the opening of an exhibition center on renewable energy that he himself had financed.
This situation is the direct result of a decision of the chinese government to allow mainland China investors to invest in some stocks listed on the open platform that is Hong Kong. Which resulted in a massive influx of funds and creating a speculative bubble, particularly in renewable energy.

Source : Le Vif