Hanwha Q CELLS (HQCL) 6-K Hanwha Q CELLS Reports Third Quarter 2015 Results

Exhibit 99.2

Hanwha Q CELLS Co., Ltd.

Interim Condensed Consolidated Balance Sheets

(in millions of US dollars, except share data)

	September 30, 2015			June 30, 2015			December 31, 2014
	(unaudited)			(unaudited)
ASSETS
Current assets
Cash and cash equivalents		293.9			475.9			156.7
Restricted cash		194.8			149.1			2.4
Trade accounts receivable		342.1			304.6			31.0
Receivables from related parties		330.0			294.5			159.5
Inventories		499.4			444.6			204.4
Loans to related parties		49.8			45.5			9.1
Derivative contracts		2.4			6.3			0.8
Other current assets		126.4			119.2			21.0
Total current assets		1,838.8			1,839.7			584.9
Long-term prepayments		3.3			3.3			—
Property, plant and equipment - net		815.0			814.4			147.8
Intangible assets		14.4			16.0			13.7
Land use right - net		53.6			55.0			—
Deferred income taxes		6.1			6.2			3.6
Other long-term assets		3.3			7.9			16.4
Total assets		2,734.5			2,742.5			766.4
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Trade accounts payable		237.4			262.2			50.8
Notes payable		145.6			127.0			—
Payables to related parties		338.8			346.6			87.1
Deferred revenue		445.4			442.2			—
Accrued expenses		34.4			35.5			1.1
Other payables		27.1			17.9			8.9
Short-term debt		303.4			292.4			1.1
Current portion of long-term debt		213.2			164.1			1.2
Current portion of obligations under capital leases		1.6			3.8			5.7
Customer deposits		7.9			3.7			1.4
Unrecognized tax benefit		18.2			18.7			—
Derivative contracts		0.2			0.5			—
Litigation and other accruals		7.1			73.1			58.5
Deferred income taxes		7.1			9.4			5.4
Warranty provision		35.2			37.3			10.5
Other current liabilities		15.4			1.8			3.3
Total current liabilities		1,838.0			1,836.2			235.0
Long-term debt, net of current portion		601.2			619.1			283.5
Long-term obligations under capital leases		0.2			0.1			1.2
Long-term warranty provision		16.9			16.2			17.0
Deferred income taxes		3.6			3.8			—
Total liabilities		2,459.9			2,475.4			536.7
Redeemable ordinary shares		—			—			—
Stockholders’ Equity
Ordinary shares		0.4			0.4			0.4
Additional paid-in capital		430.5			430.9			329.8
Accumulated deficit		(46.2	)		(98.6	)		(64.0	)
Accumulated other comprehensive loss		(110.1	)		(65.6	)		(36.5	)
Total stockholders’ equity		274.6			267.1			229.7
Total liabilities, redeemable ordinary shares and stockholders’ equity		2,734.5			2,742.5			766.4

Hanwha Q CELLS Co., Ltd.

Unaudited Interim Condensed Consolidated Statements of Operations and Comprehensive Loss

(in millions of US dollars, except share data and net loss per share)

	For the three months ended						For the nine months ended
	September 30, 2015			June 30, 2015			September 30, 2015
	(unaudited)			(unaudited)			(unaudited)
Net sales		427.2			338.0			1,098.7
Cost of goods sold		(334.2	)		(279.6	)		(898.9	)
Gross profit		93.0			58.4			199.8
Selling and marketing expenses		(22.8	)		(19.8	)		(57.8	)
General and administrative expenses		(17.3	)		(25.7	)		(61.5	)
Research and development expenses		(12.6	)		(11.9	)		(34.4	)
Restructuring charges		—			—			(22.1	)
Operating income		40.3			1.0			24.0
Other income (expense)
Interest income		4.0			2.1			6.4
Interest expenses		(15.9	)		(16.9	)		(44.0	)
Foreign exchange loss		(18.0	)		—			(17.1	)
Changes in fair value of derivative contracts		0.9			1.2			10.3
Investment loss		—			(1.5	)		(1.5	)
Miscellaneous income (expense), net		(5.2	)		0.7			(3.5	)
Reversal of litigation accruals		48.7			—			48.7
Other income (expense), net		14.5			(14.4	)		(0.7	)
Income (loss) before income tax		54.8			(13.4	)		23.3
Income tax expenses		(2.4	)		(0.8	)		(5.5	)
Net income (loss)		52.4			(14.2	)		17.8
Net income (loss) attributable to Hanwha Q CELLS Co., Ltd.’s stockholders per share:
Basic		US$ 0.01			US$ (0.00	)		US$ 0.00
Diluted		US$ 0.01			US$ (0.00	)		US$ 0.00
Number of shares used in computation of net income (loss) per share:
Basic		4,158,447,688			4,158,310,368			4,107,574,093
Diluted		4,158,499,547			4,158,310,368			4,107,720,081

Hanwha Q CELLS Co., Ltd.

Unaudited Interim Condensed Consolidated Statement of Cash Flows

(in millions of US dollars)

	For the three months ended						For the nine months ended
	September 30, 2015			June 30, 2015			September 30, 2015
	(unaudited)			(unaudited)			(unaudited)
Cash flows from operating activities
Net income (loss)		52.4			(14.2	)		17.8
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation, amortization and impairment		27.5			29.9			73.7
Allowance for doubtful accounts		—			—			0.7
Non-cash interest expense		1.8			4.0			11.6
Unrealized (gains) loss on derivative contracts		3.6			0.9			(2.1	)
Stock compensation expense		0.2			0.4			0.6
Reversal of litigation accruals		(48.7	)					(48.7	)
Loss from disposal of subsidiaries		—			1.5			1.5
Deferred tax expense (benefit)		(2.4	)		0.8			0.7
Changes in operating assets and liabilities		—						—
Trade accounts receivable		(42.2	)		(0.7	)		(164.6	)
Inventories		(78.5	)		(44.4	)		(163.0	)
Restricted cash		(47.1	)		(28.5	)		(91.5	)
Other current assets		(75.8	)		(109.5	)		(156.7	)
Other non current assets		21.5			(1.2	)		35.1
Trade accounts payable		(15.3	)		29.8			58.8
Notes payable		18.6			25.2			43.4
Warranty provisions		1.1			1.1			3.0
Accrued expenses		(1.1	)		5.0			7.3
Deferred revenue		—			442.2			442.2
Other current liabilities		59.5			81.2			199.5
Cash provided by (used in) operating activities		(124.9	)		423.5			269.3
Cash flows from investing activities
Net cash received from an acquisition		—			—			70.2
Net cash paid for other acquisition		(16.3	)		—			(17.5	)
Capital expenditures		(104.0	)		(40.7	)		(161.3	)
Changes in restricted cash		1.4			2.6			6.3
Proceeds from disposal of a subsidiary		—			0.5			0.5
Repayment of loans to related parties		19.6			—			19.6
Issuance of loans to related parties		(23.8	)		(30.3	)		(60.2	)
Net cash used in investing activities		(123.1	)		(67.9	)		(142.4	)
Cash flows from financing activities
Proceeds from bank borrowings		137.7			306.3			518.1
Principal payments on bank borrowings		(58.6	)		(366.8	)		(486.9	)
Principal payments on capital lease obligations		(2.1	)		(1.3	)		(4.8	)
Proceeds from related party borrowings		—			—			8.0
Principal payments on related party borrowings		(6.2	)		(11.4	)		(17.6	)
Arrangement fee and other related costs for bank borrowings		(0.3	)		(0.7	)		(1.9	)
Arrangement fee and other related cost for long-term notes		—			—			(1.0	)
Net cash used in financing activities		70.5			(73.9	)		13.9
Net increase (decrease) in cash and cash equivalents		(177.5	)		281.7			140.8
Effect of exchange rate changes on cash and cash equivalents		(4.5	)		(0.3	)		(3.6	)
Cash and cash equivalents at beginning of period		475.9			194.5			156.7
Cash and cash equivalents at end of period		293.9			475.9			293.9