BUSINESS HNA-related stocks drop following chairman's death

BUSINESS

HNA-related stocks drop following chairman's death

Global Times

19:21, July 05, 2018

Most shares related to HNA Group dropped on Thursday, following the announcement of the death of its chairman on Tuesday.

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Photo: VCG

HNA Innovation Co slid 3.69 percent to 3.91 yuan ($0.59), Zhejiang Haiyue Co dropped 3.81 percent to 8.6 yuan, CWT International was down 2.75 percent to HK$0.25 ($0.03), HNA Technology Investment was down 2.36 percent to HK$2.89, and Hong Kong International Construction Investment Management Group Co was down 3.74 percent to HK$1.8.

Seven of the group's companies, namely HNA Infrastructure Co, HNA Investment Group Co, Hainan Airlines Holding Co, CCOOP Group Co, Golden Control Investment, HNA Technology Co and CAISSA Tourism Group, suspended trading in January.

HNA has 16 listed companies, including 10 in the A-share market and six in Hong Kong, the Beijing Youth Daily reported in January.

According to the report, HNA has carried out at least 40 cross-border acquisitions since 2010, worth over $40 billion.

The total assets of HNA increased from $95.3 billion in 2015 to $170 billion at the end of 2016, an increase of 81.56 percent, the report said.

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