HNA’s restructuring strategy announced that its stocks have dropped to a limit-Hangzhou News Center-Hangzhou Net

In June, 30 billion was rushed to set up the airline “Northeast M&A King” Liaoning Fangda to take over

Daily Business NewsNews on the evening of September 12, two listed companies under the HNA Group that went into bankruptcy and reorganization-Hainan Airlines Holding Co., Ltd. (hereinafter referred to as “*ST HNA”) and HNA Infrastructure Investment Group Co., Ltd. (hereinafter referred to as “* ST Foundation”) respectively issued announcements, confirming that the main aviation business of HNA Group will be taken over by Liaoning Fangda Group Industrial Co., Ltd., and the airport sector will be taken over by Hainan Development Holdings Co., Ltd. As a result, this high-profile reorganization has finally entered the sprint stage. What’s interesting is that yesterday, both *ST HNA and *ST Basic dropped their limits. Among them, *ST HNA reported 2.36 yuan/share, with a total market value of 39.662 billion yuan, and *ST basic reported 12.26 yuan/share, with a total market value of 47.907 billion yuan.

HNA Confirms Strategic Investor

On the evening of September 12, “*ST HNA” issued the “Announcement on the Progress of Recruitment of Strategic Investors in the Main Aviation Industry of HNA Group”. According to the announcement, the manager has determined that the strategic investor in the main aviation industry of HNA Group is Liaoning Fangda Group Industrial Co., Ltd. If the investment is completed, the strategic investor may become the controlling shareholder of the company. At the same time, “*ST Foundation” also released the “Announcement on the Progress of Recruitment of Strategic Investors in the Airport Sector of HNA Group”. The announcement shows that at present, the manager has determined that the strategic investor in the airport sector of HNA Group is Hainan Development Holdings Co., Ltd. If the investment is completed, the strategic investor may become the company’s controlling shareholder. However, the manager has formulated a draft reorganization plan based on the reorganization investment plan reached with the strategic investor. The draft reorganization plan must be approved by the court in accordance with relevant laws and regulations, and there is still a certain degree of uncertainty. If the reorganization draft is passed, HNA Group will reorganize successfully. If the draft is not passed, HNA Group may go to bankruptcy and liquidation.

In addition, the two companies also issued announcements that the reorganization plan will arrange adjustments to the rights and interests of HNA Holdings’ investors. Specifically, based on the existing A shares of *ST HNA, the capital reserve will be increased by the conversion of 10 shares for every 10 shares, and the conversion of approximately 16.437 billion shares will be realized. The stocks formed by the aforementioned conversion will not be distributed to the original shareholders, and all will be distributed and disposed of in accordance with the reorganization plan. *ST base is based on approximately 3,907,592,500 existing A shares, and the capital reserve is increased by 20 shares for every 10 shares. The converted shares are approximately 7,15,184,900. After the cancellation of the performance commitment shares, the total capital of HNA’s basic capital will be approximately 1142530.96 million shares.

After the announcement of the restructuring plan, yesterday, *ST Hainan Airlines and *ST Foundation both opened their limits. And just last Monday and Tuesday (September 6th, 7th), *ST HNA has two consecutive daily limit. Since September, as of the 12th, *ST HNA has risen by more than 13%.