Hanwha SolarOne: Termination of Offering of American Depositary Shares

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SHANGHAI - Hanwha SolarOne Co., Ltd., a top-10 global photovoltaic manufacturer of high-quality, cost-competitive solar modules, announced that the Company's at-the-market offering of American Depositary Shares, each representing five ordinary shares of par value US$0.0001 per share, (the "ADSs"), was terminated on January 29, 2014 (the "ATM Offering").

Upon the termination of the ATM Offering, the Company had sold 6,716,966 of its ADSs at an average price of US$3.20 per ADS, raising approximately US$21.5 million in gross proceeds. The ADSs were offered through Credit Suisse as sales agent. The Company received net proceeds of approximately US$21.0 million from the offering after deducting the sales agent's commissions and estimated offering expenses.

Jay Seo, the chief financial officer of Hanwha SolarOne, commented, "The Company maintained a conservative trading posture throughout the ATM Offering, in light of the lower stock price, potential shareholder dilution and availability of other financing options."

The ADSs were offered under the Company's existing shelf registration statement, which became effective on November 13, 2013. A prospectus supplement and a related base prospectus describing the terms of the ATM Offering were filed with the Securities and Exchange Commission (the "SEC"). Investors are advised to read the prospectus supplement and the related base prospectus (including documents incorporated by reference therein) for more complete information about the Company and the ATM Offering. A copy of the prospectus supplement and the base prospectus relating to these securities may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY, 10010, by phone at (800) 221-1037, or by e-mail at newyork.prospectus@credit-suisse.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Hanwha SolarOne

Hanwha SolarOne Co., Ltd. (HSOL) is one of the top 10 photovoltaic module manufacturers in the world, providing cost-competitive, high quality PV modules. It is a flagship company of Hanwha Group, one of the largest business enterprises in South Korea. Hanwha SolarOne serves the utility, commercial, government and residential markets through a growing network of third-party distributors, OEM manufacturers and system integrators. The company maintains a strong presence worldwide, with a global business network spanning Europe, North America, Asia, South America, Africa and the Middle East. As a responsible company committed to sustainability, Hanwha SolarOne is an active member of the PV Cycle take-back and recycling program. For more information, please visit: www.hanwha-solarone.com
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