Xiang Peng Airlines, a subsidiary of HNA Holdings, plans to transfer three project companies for 2.944 billion yuan, with the potential takeover party being Hainan State-owned Assets.
On the evening of April 13, Hainan Airlines Holdings Co., Ltd. (HNA Holdings, 600221) announced that in order to optimize the asset structure of HNA Holdings, it would further achieve “focus on the health of the main business Development, the company’s holding subsidiary Yunnan Xiangpeng Aviation Co., Ltd. (hereinafter referred to as “Xiangpeng Aviation”) plans to transfer its holding of Hainan State to Hainan Development Holdings Real Estate Group Co., Ltd. (hereinafter referred to as “Haikong Real Estate”). Shan Industrial Co., Ltd. (hereinafter referred to as “Hainan Guoshan”), Hainan Guoxu Industrial Co., Ltd. (hereinafter referred to as “Hainan Guoxu”), Hainan Hangpeng Industrial Co., Ltd. (hereinafter referred to as “Hainan Hangpeng”) 100% equity.
The above transaction amount amounts to RMB 2.944 billion, and the final transaction price is subject to delivery review.
The announcement stated that the above transaction has been reviewed and approved by the fifth meeting of the ninth board of directors of the company. Since Hainan Development Holdings Co., Ltd. (hereinafter referred to as “Haifa Holdings”) is the controlling shareholder of the company’s controlling shareholder, Daxinhua Airlines Co., Ltd., Haikong Real Estate is a wholly-owned subsidiary of Haifa Holdings, so this transaction constitutes a connected transaction.
It is worth mentioning that Haifa Holdings is a wholly-owned subsidiary of Hainan SASAC. In other words, the three project companies transferred by Xiangpeng Airlines this time will also be transferred to the SASAC of Hainan Province.
The announcement reminds that this transaction constitutes a connected transaction, but does not constitute a major asset restructuring as stipulated in the “Management Measures for Major Asset Restructuring of Listed Companies”. In addition, the transaction still needs to be approved by the company’s general meeting of shareholders, the transaction related parties to perform the review process, and the relevant administrative supervision and approval department / record.
For the impact of the transfer decision, the announcement shows that this transaction will help the company optimize its resource allocation and achieve a scientific asset-liability structure; it will help the company Focus on capital advantages and focus on main business development; help the company to save operating costs and maximize resource utilization. The transaction as a whole conforms to the company’s current strategic positioning and will not have a significant adverse impact on the company’s production and operations. The specific impact on the company’s financial performance is subject to the audited financial statements.
Look at the specific situation of the three project companies transferred by Xiangpeng Airlines.
Among them, Hainan Guoshan has a registered capital of 2 millionRMB, the main business scope includes agricultural project development, property leasing, real estate development, general cargo warehousing services, etc. Xiangpeng Airlines holds 100% of its equity. From January to November 2019, Hainan Guoshan ’s audited operating income was RMB 20,000 , Net profit-RMB 248,400,000.
The main asset of Hainan Guoshan is the D01 plot in the New City Center District of Dayingshan, Haikou City. The land use is for commercial use and the use right area is 26.211 square meters.
Hainan Hangpeng has a registered capital of RMB 2 million. Its main business scope includes agricultural project development, property leasing, general cargo storage services, real estate development, etc. Its 100% equity, audited operating income from January to November 2019 was RMB 205,800 and net profit was RMB -1.3218 million.
Hainan Hangpeng ’s main assets are the C09 plot in the New City Center District of Dayingshan, Haikou City, the land use is for commercial use, and the area of use rights is 33066.77 square meters.
Hainan Guoxu has a registered capital of RMB 100 million. Its main business scope includes agricultural project development, property leasing, general cargo storage services, real estate development, etc. Its 100% equity, from January to November 2019, audited operating income of 0 million yuan, net profit of 19.4635 million yuan.
Hainan Guoxu ’s main assets are plots D09 and C10 in the central area of Dayingshan New City, Haikou City. The land use is for commercial use. The area of use rights is 26554.74 and 28738.11, respectively. Square meters.
The registered capital of the counterparty to this transaction, Haikong Real Estate, is RMB 504 million. Its main business scope includes urban land comprehensive development and operation, real estate development and operation, and commercial housing sales.
After equity penetration, Haikong Real Estate is an enterprise under the State-owned Assets Supervision and Administration Commission of the Hainan Provincial Government. The specific equity relationship is that Haikong Real Estate is a wholly-owned subsidiary of Haifa Holdings, and Haifa Holdings is a wholly-owned subsidiary of the State-owned Assets Supervision and Administration Commission of the Hainan Provincial Government. Haifa Holdings holds 100% equity of Haikong Real Estate through its wholly-owned subsidiary Hainan Haikong Meili Village Construction Co., Ltd.
Right now, HNA is advancing risk disposal.
According to HNA Group’s news on February 29, at the request of HNA Group, recently, the Hainan Provincial Government took the lead and jointly dispatched professionals from relevant departments to jointly establish the “Hainan Province HNA Group Joint Working Group”. The joint working group will fully assist and promote the risk management of HNA Group. The chairman of the joint working group is Gu Gang, chairman of Hainan Development Holdings Co., Ltd., and the executive deputy leader is Ren Qinghua, director of the Hainan Yangpu Economic Development Zone Management Committee. Li Shuangchen and Cheng Gong, Deputy Director of the China Development Bank Credit Administration.
According to the announcement of HNA Group, some directors were re-elected by the shareholders ’meeting on February 28 and the board of directors of the group on February 29. Seven directors after re-election: Chen Feng, Gu Gang, Li Xianhua, Tan Xiangdong, Ren Tsinghua, Chen Xiaofeng, He Jiafu. Elect Chen Feng as chairman, Gu Gang as executive chairman, and Li Xianhua as vice chairman. At the same time, the board of directors decided to hire Tan Xiangdong as the company’s CEO and Tsinghua as the company’s co-CEO.
HNA Group also stated that since the outbreak of liquidity risk in late 2017, with the support of all parties, HNA Group has actively carried out “self-rescue”, but failed to completely resolve the risk. Affected by the superimposition of the “new coronary pneumonia” epidemic in early 2020, the liquidity risk is increasing.