(Yicai Global) Feb. 22 -- Aolian AE & EA’s shares plunged for a second consecutive day after another company listed in the resume of the Chinese auto part maker's top expert on perovskite solar cells claimed that he faked his work experience.

Aolian [SHE: 300585] sank 12.4 percent to end today at CNY26.79 (USD3.88) a share, after slumping by its 20 percent exchange-imposed trading limit yesterday.

Hangzhou Zhongneng Optoelectronics said today that many of Xu Mingjun's achievements at the company, which was mentioned in his curriculum vitae, were exaggerated or untrue. In fact, Xu was only involved in the discussion of some perovskite projects, he did not complete them, Zhongneng added, noting that he worked there for 11 months, not 22 months as he said.

Aolian announced on Dec. 9 that its unit Hainan Aolian Investment had recently set up a firm with Xu in charge of developing, producing, and selling perovskite solar cells as well as their preparation and production equipment. Between Dec. 9 and Feb. 20, Aolian's stock skyrocketed 173 percent.

Xu has no connection with the Huaneng Clean Energy Research Institute, where he claimed to have worked, the organization under state-owned China Huaneng Group said on its official WeChat account yesterday. Xu did not participate in any equipment debugging and process research of the institute's pilot perovskite production line, it added, noting that he was never even invited to visit.

According to Xu's resume, the Huaneng Clean Energy Research Institute reached the efficiency goal for the 550-millimeter per 650 mm perovskite battery module's pilot production scale under his guidance, with a recognized maximum efficiency of 16.8 percent.

The institute also pointed out in its statement that the 16.8 percent efficiency was fabricated and did not match actual data.

The Shenzhen Stock Exchange yesterday asked Aolian to verify the authenticity of the institute's claims and Xu's resume, background, previous research achievements, sources of the technologies related to its perovskite solar cell production, and whether he violated any non-compete clauses.

Aolian and Xu did not perform any act of forgery, a staffer at the company's board secretary's office told Beijing Business Today today. Related media reports are not factual, the person added.

Perovskite cells have higher energy conversion efficiency, lower cost, and broader application prospects than solar cells using second-generation photovoltaic cell technologies, such as tunnel oxide passivated contact and heterojunction technology or heterojunction with intrinsic thin layer.

Editor: Futura Costaglione