Li Hejun, founder and main shareholder of China's Hanergy Thin Film Power Group. [Photo/China.org.cn]

China's Hanergy Thin Film Power Group has announced that its founder and main shareholder Li Hejun has stepped down as chairman of the board and executive director.

Li's resignation came a year after Hanergy's Hong Kong-listed shares were suspended after plunging 47 percent in half an hour, wiping out 19 billion U.S. dollars in value.

Hong Kong's Securities and Futures Commission launched an investigation into the company following the trading halt.

Hanergy Thin Film Power Group said that Li Hejun resigned "for the reason of strengthening corporate governance."

The company added that two other board members - Frank Mingfang Dai and Feng Dianbo - stepped down at the same time.

Meanwhile, Hanergy Holding Group said that the three board members who resigned from Hanergy Thin Film retained their positions at the parent company.

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