|Industry||Aviation, tourism, financial services, real estate, logistics|
|Headquarters||HNA Building, Haikou, China|
|Revenue||CN¥100.941 billion (2015)|
|CN¥2.366 billion (2015)|
|Profit||CN¥806 million (2015)|
|Total assets||CN¥468.709 billion (2015)|
|Total equity||CN¥22.514 billion (2015)|
|Footnotes / references
in a consolidated basis; equity and profit excluded minority interests; in Chinese Accounting Standards
|HNA Group Co., Ltd.|
HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it is involved in the aviation, real estate, financial services, tourism, logistics, and other industries. It is part owner of Grand China Air (Hainan Airlines), China's fourth largest airline, and owns 25% of Hilton Worldwide.
In 1993, Chen Feng established Hainan Airlines on behalf of the Hainan Provincial People's Government. Following a restructuring of the airline in 1997, Feng founded HNA Group, Co., Ltd. as the parent company of Hainan Airlines in January 2000. Following the CAAC's creation of three major airline groups in early 2000s, HNA Group took control of China Xinhua Airlines, Chang An Airlines, and Shanxi Airlines to remain competitive.
Since then, the group has undergone great diversification, entering multiple industries such as tourism and logistics. It has also significantly expanded its involvement with both national and international companies. These include several airlines, NH Hotel Group, Uber, and an office tower and a hotel in New York City. HNA Group has spent more than US$3 billion on foreign acquisitions. It intends to be one of the top 50 companies in the world by 2030.
On February 18, 2016, HNA Group was reported to reach an agreement with Ingram Micro Inc, a California-based technology distributor for $6 billion, in the largest Chinese takeover of a US information technology company. HNA Group was then advised by China International Capital Corporation in the transaction.
In July 2017, the company was targeted by the Central Government in a set of new measures that prohibit state-owned banks from lending money to Chinese private companies to curb their foreign investment activities. Several banks associated with HNA's foreign investments halted new loans since, though some had already suspended their grants before the measures were signed into effect.
||This article needs to be updated. (February 2017)|
HNA Group is composed of five core industries: HNA Aviation, HNA Holdings, HNA Capital, HNA Tourism, and HNA Logistics.
The group also has stakes in some carriers based outside China, including Africa World Airlines, Aigle Azur (48%), Azul Brazilian Airlines (23.7%), Comair (6.2%), MyCargo Airlines , TAP Portugal (2.5%) and a pending stake in Virgin Australia (13%).
On 18 January 2016, HNA Aviation formed the world's first alliance of low-cost carriers, U-FLY Alliance. While the founding members of the alliance—HK Express, Lucky Air, Urumqi Air, and West Air—are all affiliated with HNA Aviation, the alliance is also open to airlines not within HNA Group.
HNA Holdings is involved in real estate and the retailing industry. Subgroup HNA Airport Group operates 16 airports across China, including the airports in Haikou, Sanya, Weifang, Dongying, Yichang, Anqing, and Yingkou.
- HNA Industrial Group
- HNA Infrastructure Holding Group
- HNA Aviation (100%)
- HNA Innovation Finance Group
- Advanced Card Systems Holdings (SEHK: 02086)
- Tianhai Investment (SSE: 600751)
- Ingram Micro (100%)
- As of 31 December 2015
- Grand China Air (23.11%) as second largest shareholder
- Haikou Meilan International Airport
- Hainan Airlines (4.88% directly; additional 4.25% via subsidiary Changjiang Leasing) as second largest shareholder; Grand China Air is the largest shareholder of Hainan Airlines
- HNA Infrastructure
- AID Partners Capital Holdings (via HNA Group Holding and subscription of convertible bond)
- MyCargo Airlines
- Deutsche Bank (9.90% as the largest shareholder as of April 2017, jointly owned by subsidiaries BL Capital Holdings and HNA Innovation Finance Group via C-QUADRAT Special Situations Dedicated Fund)
- NH Hotel Group (29.34% as of 27 February 2017)
The shares of HNA Group were owned by two companies directly: Hainan Jiaoguan Holding (Chinese: 海南交管控股; pinyin: Hǎinán jiāoguǎn kònggǔ; literally: "Hainan Traffic Administration Holding") for 70% and Yangpu Jianyun Investments (Chinese: 洋浦建运投资) for 30%. Two companies originally were incorporated by Chinese state-owned enterprises, such as Hainan Airport.
Hainan Traffic Administration Holding was 50% owned by Tang Dynasty Development (Yangpu) (Chinese: 盛唐发展(洋浦)), 25% by Yangpu Hengsheng Chuangye (Chinese: 洋浦恒升创业) and 18.21% by Yangpu Zhongxin Airlines Holding (Chinese: 洋浦中新航空实业) and 6.78% by Hainan Xinhuading Trading (Chinese: 海南炘华鼎贸易) as of March 2017.
Tang Dynasty Development (Yangpu) was 65% owned by Hainan Province Cihang Charity Foundation (Chinese: 海南省慈航公益基金会) and 35% by Hong Kong incorporated company Tang Dynasty Development (simplified Chinese: 盛唐发展; traditional Chinese: 盛唐發展).
Tang Dynasty Development was 98% owned by Caymans-incorporated Pan-American Aviation Holding and 2% owned by Hainan Airlines.
Yangpu Hengsheng Chuangye was owned by HK incorporated company Headstreams Investment (simplified Chinese: 千江源投资; traditional Chinese: 千江源投資), which was 98% owned by Bharat Bhisé and 2% by R.J. Conrads in 2004. As in 2015 Bhisé still owned 98% of Headstreams Investment, while the 2% stake of Headstreams was owned by Caymans-incorporated HAC (RAC), Limited as in 2011. In 2016, Bhisé also transferred the stake of Headstreams to Jun Guan.
Yangpu Jianyun Investments and Yangpu Zhongxin Airlines Holding were owned by The Committee of Hainan Airlines Trade Union (Chinese: 海南航空股份有限公司工会委员会). However, all the stake owned by the union, were transferred in 2016. According to the record in the National Credit Information Publicity System, part of the stake (6.78%) of Hainan Traffic Administration Holding held by Zhongxin Airlines Holding was transferred to newly established company Xinhuading. While Jianyun Investments was now owned by HNA Group directors Chen Feng (Chinese: 陈峰, 35.05%), Wang Jian (Chinese: 王健, 35.05%), Chen Wenli (Chinese: 陈文理, 9.23%), Tan Xiangdong (Chinese: 谭向东, 6.89%), Li Jing (Chinese: 李箐, 6.89%) and Li Xianhua (Chinese: 李先华, 6.89%). For Zhongxin Airlines Holding, the owners also became the 6 shareholders of Jianyun Investments with the same ratio; for newly established Xinhuading, the shareholders were 4 more HNA Group directors Lu Ying (Chinese: 逯鹰), Zhang Ling (Chinese: 张岭) Huang Gan (Chinese: 黄玕) and Huang Qijun (Chinese: 黄琪珺).
After much speculation on his identity, Guan Jun, by-then the indirect second largest shareholder of HNA Group (who acquired the stake from Bharat Bhisé), donated the stake to a private foundation Hainan Cihang Charity Foundation, Inc. in 2017.
|structure of HNA Group based on legal filings|
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