The HNA Group, is a rapidly expanding airline and conglomerate in China. After the high-profile mysterious death of its Chairman, Wang Jian, in France in last year, the Hainan Provincial government has been leading its restructure.
The HNA Group announced on February 29 that its high liquidity risk that started at the end of 2017 continued and worsened in 2020 due to the novel coronavirus. Therefore, it requested to form the “Hainan Provincial Government HNA Joint Working Group” to coordinate and address the risk. The Hainan Provincial government has led the working group.
Key personnel in the joint work group are all from government offices or state-owned enterprises:
- Director Gu Gang, Chairman of Hainan Development Holding Co., Ltd, which is directly owned by the Hainan Provincial government
- Executive Deputy Director Ren Qinghua, Director of Management Committee of the Hainan Yangpu Economic Development Zone
- Deputy Director Li Shuangchen, Deputy Director of the Central and South China Regional Administration, Civil Aviation Administration
- Deputy Director Cheng Gong, Deputy Director of the Credit Management Bureau, China Development Bank.
The HNA Group also re-elected its seven-member board. Gu Gang and Ren Qinghua joined the board. While HNA Co-founder Chen Feng remained as the Chairman, Gu Gang became the Executive Chairman and Ren Qinghua became the joint-company CEO.
HNA Group Co., Ltd. is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it is involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more.
People have been sayings that the HNA Group is connected with Wang Qishan.
Source: Stock Times, February 29, 2020
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