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Hanwei Energy Services Corp. (HE.TO), which fell near 12% Tuesday, has rebounded and is up 33% today after it announced that it has received a payment of Renminbi 30 million (C$4.8 million) in regards to the sale of its inventory from its discontinued wind power business. This payment is in addition to the near Rmb 45.3 million (C$7.2 million) that was previously received under an existing agreement for the sale of the company's wind power business inventory for total value of Rmb 93.6 million (C$14.9 million) as previously disclosed. The remaining balance to be paid pursuant to the Agreement is approximately Rmb 18.3 million (C$2.9 million).

The company said it continues to effectively manage its debt facilities. From the aforementioned funds received the company has fully repaid a bank loan with principal amount of Rmb 30 million (C$4.8 million) that was due to mature on January 23, 2013. Following this loan repayment the principal amount of the company's total bank loans is approximately $16.8 million (as compared to $24.5 million as at December 31, 2011).

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