HNA Innovation , which was delisted from A shares last month because it hit the red line, recently issued an announcement on the third board market, bringing to the fore the conflict between its subsidiary Zhejiang Jiulongshan Development Co., Ltd. and the Jiulongshan Local Government Management Committee.
The announcement revealed that the operation and management cooperation agreement between Jiulongshan Development Co., Ltd. and Jiulongshan Management Committee is about to expire on September 30 this year. The management committee issued a letter stating that it will not renew the contract and will fully take over Jiulongshan Tourism. Overall development and management operations of the resort.
In response, HNA Innovation responded in a letter expressing its objection. It is worth mentioning that the reply letter also revealed the new " HNA Group ", which is the new system of the trust plan for the repayment of trillions of debts - quasi-state-owned assets/quasi-state-owned enterprises .
In its reply, Jiulongshan Development Co., Ltd. stated that the company's management system has undergone fundamental changes. The beneficiaries of the HNA Group's bankruptcy and reorganization special service trust are major domestic state-owned banks and other financial institutions. The assets of the special service trust It is a quasi-state-owned asset ; The total holding platform HNA Information Management is not the continuation of the private enterprise HNA Group, but a newly established quasi-state-owned enterprise . Ensuring the preservation and appreciation of state-owned assets is the core goal of the development of HNA Information Management Enterprises . Compliance with laws and regulations is an inevitable requirement for the operation of HNA Information Management Enterprises.
further stated righteously in the reply: "As a wholly-owned subsidiary of the public company HNA Innovation Co., Ltd., our company is also an important underlying asset and one of the main member companies of the HNA Trust Plan. It is responsible for ensuring the smooth implementation of the trust plan and the state-owned is directly responsible for maintaining and increasing the value of assets. 5.8 Thousands of small and medium-sized shareholders require the company to maintain normal operations and enter a new stage of group management. Operating in compliance with laws and regulations and ensuring the preservation and appreciation of state-owned assets are the political tasks and business goals of our company ".
In addition, Jiulongshan Development Co., Ltd. also stated that renewing or re-signing the cooperation agreement is in the interests of all parties, and proposed to set up a joint working group to negotiate. It also revealed that the company has a new strategic investor , and intends to cooperate with the strategic investor. Jiulong Mountain Resort is built into " Yuanshi Scenic Area ": "Currently, our company has joined forces with China Digital Culture Group Co., Ltd. (hereinafter referred to as 'Zhongshu'), CICC Investment (Group) Co., Ltd., CBRE CBRE has drafted an implementation plan for the overall improvement and revitalization of the Jiulong Mountain Tourist Resort and has submitted it to your committee. At the same time, it has communicated and reported to the government through different methods and channels many times on the planning and design plan for the 'Yuanshi Scenic Area'.”
. After the bankruptcy and reorganization of HNA Group, except for the aviation and airport sectors, most of the assets of the original HNA Group were incorporated into HNA Information Management to continue operations.
In addition to HNA Innovation, HNA Information Management currently owns Bohai Leasing , Bohai Trust , Bohai Life , Huaan Property & Casualty Insurance, Supply and Marketing Group , Jinhai Intelligent Manufacturing, and HNA Hotels. There are nearly 100 domestic and overseas listed companies and entity operating enterprises such as , Yisheng Payment and CWT, with about 30,000 employees. The scale of assets under management exceeds 200 billion . In 2021, the operating income of all enterprises exceeds 110 billion .
How are the above-mentioned assets, which bear the task of subsequent debt repayment to many creditors, doing now?
In addition to HNA Innovation, which has been delisted, Northeast Electric, another listed company under HNA Information Management, has also withdrawn from the A-share market due to hitting a red line. However, Northeast Electric, which has withdrawn from A-shares, has also recently introduced strategic investment, planning to issue 90 million shares in Hong Kong stocks and attract 90 million in investment.
At the same time, according to the semi-annual reports released by many A-share listed companies under HNA Information Management, many companies achieved profits in the first half of the year. Some of them turned losses into profits year-on-year, and some turned around losses in the second quarter after losing money in the first quarter. ：
ST Daji (Supply and Marketing Daji 000564) achieved operating income of 6.78 in the first half of the year 100 million yuan, a year-on-year decrease of 25.99%, but the net profit was 134 million yuan, turned a year-on-year loss into a profit, lost 249 million yuan in the same period last year.
ST Haitou (HNA Investment 000616) achieved operating income of 28.4173 million yuan in the first half of the year, a year-on-year increase of 42.98%. With a loss of 5.08 million yuan in the first quarter, the overall net profit in the first half of the year was 53.3785 million yuan, a year-on-year increase of 344.29%.
In addition, HNA Technology (600751) is expected to have a net profit of 150-190 million yuan in the first half of the year. However, due to the sale of Ingram Micro last year, it is expected to drop by more than 80% year-on-year.
However, Bohai Leasing (000415) is expected to lose 700-1.35 billion yuan in the first half of the year. Mainly due to the Russia-Ukraine conflict, has provided for aircraft asset impairment, resulting in aircraft leasing business still losing money.
What do you think of the future of HNA Trust Assets?
