This article needs to be updated.February 2019)(
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. It is a part owner of Grand China Air, and owns 25% of Hilton Worldwide. In July 2017, HNA Group ranked No. 170 in 2017 Fortune Global 500 list with a revenue of $53.335 billion. It is one of the most active investment companies in the world, acquiring numerous assets under its name.
|Industry||Aviation, tourism, financial services, real estate, logistics|
|Founders||Chen Feng, Wang Jian and others|
|Headquarters||HNA Building, |
|Revenue||CN¥100.941 billion (2015)|
|CN¥2.366 billion (2015)|
|CN¥806 million (2015)|
|Total assets||CN¥468.709 billion (2015)|
|Total equity||CN¥22.514 billion (2015)|
|Footnotes / references|
in a consolidated basis; equity and profit excluded minority interests; in Chinese Accounting Standards
|HNA Group Co., Ltd.|
In 1993, Chen Feng and Wang Jian created Hainan Airlines, with approval by the Hainan Provincial Government. Following a restructuring of the airline in 1997, they founded HNA Group Co. Ltd. in January 2000. Since then, the Group has undergone great diversification, entering multiple industries such as tourism and logistics. It also significantly expanded its involvement with both national and international companies. These include several airlines, NH Hotel Group, Uber, and an office tower and a hotel in New York City. HNA Group has spent more than US$3 billion on foreign acquisitions. It intends to be one of the top 50 companies in the world by 2030.
On February 18, 2016, HNA reached an agreement to acquire Ingram Micro Inc, a California-based technology distributor, for $6 billion, in the largest Chinese takeover of a US information technology company. HNA Group was then advised by China International Capital Corporation in the transaction.
In July 2017, HNA was targeted by the Central Government in a set of new measures that prohibit state-owned banks from lending money to Chinese private companies to curb their foreign investment activities and also over concerns about HNA's debt levels. Several banks associated with HNA's foreign investments halted new loans since, though some had already suspended their grants before the measures were signed into effect.
A year out after investing, HNA Group was in talks to sell some or all of its 25% share in Hilton Grand Vacations, a timeshare business which had spun off from Hilton Worldwide Holdings the year before.
Overall debt in 2017 is said to have reached $94 billion at a borrowing cost of $5 billion for the full year. To ease the burden, the company disposed of assets worth $13 billion. The liquidity shortage also led the non-delivery of up to six Airbus A330 aircraft to be delivered to the group.
The total number of employees in the Group is over 410,000 and the number of overseas employees is nearly 290,000, owning RMB330 billion in overseas assets since its major acquisitions began in 2010.
HNA Group is composed of seven sub-groups: HNA Aviation, HNA Tourism, HNA Capital, HNA Holdings, HNA Modern Logistics, HNA Innovation Finance, and HNA Innovation Media & Entertainment.
The group also has stakes in some carriers based outside the Chinese mainland, including Hong Kong Airlines as well as Africa World Airlines, Azul Brazilian Airlines (23.7%), Comair (6.2%), MyCargo Airlines, TAP Air Portugal (2.5%) and a pending stake in Virgin Australia (13%).
On 18 January 2016, HNA Aviation formed the world's first alliance of low-cost carriers, U-FLY Alliance. While the founding members of the alliance—HK Express, Lucky Air, Urumqi Air, and West Air—are all affiliated with HNA Aviation, the alliance is also open to airlines not within HNA Group.
On 27 March 2019, HNA Aviation sold full stake of HK Express to Cathay Pacific for HK$4.93 billion. The transaction was expected to be completed by 31 December 2019, and by that time HK Express would become Cathay Pacific's wholly owned subsidiary.
In 2015, the HNA Group purchased a failing hotel in Kerhonkson, New York in upstate New York. The Hudson Valley Resort & Spa was featured on an October 2017 Planet Money podcast exploring why a Chinese multinational company would invest in a remote hotel in the United States
HNA Holdings is involved in real estate and the retailing industry. Subgroup HNA Airport Group operates 16 airports across China, including the airports in Haikou, Sanya, Weifang, Dongying, Yichang, Anqing, and Yingkou.
HNA Innovation Media and Entertainment.
- Chen Feng (co-founder and chairman of the board)
- Wang Jian (co-founder and chairman of the board), died on 3 July 2018 in an accident
- Tan Xiangdong or Adam Tan (co-founder and vice-chairman of the board and CEO)
- Li Xianhua (co-founder and vice-chairman of the board)
- Lu Ying (vice-chairman of the board)
- Chen Wenli (co-founder and member of the board of directors)
- Zhang Ling (member of the board of directors and CEO)
Investments and acquisitionsEdit
- As of 31 December 2015
- Grand China Air (23.11%) as second largest shareholder
- Haikou Meilan International Airport
- Hainan Airlines (4.88% directly; additional 4.25% via subsidiary Changjiang Leasing) as second largest shareholder; Grand China Air is the largest shareholder of Hainan Airlines.
- HNA Infrastructure
- AID Partners Capital Holdings (via HNA Group Holding and subscription of convertible bond).
- HNA Technology (20.76% via HNA Technology Group)
- Ingram Micro (100%)
- Deutsche Bank (previously 9.90% as the largest shareholder as of April 2017, jointly owned by subsidiaries BL Capital Holdings and HNA Innovation Finance Group via C-QUADRAT Special Situations Dedicated Fund; stake reduced to 8.8% as of February 16, 2018)
- NH Hotel Group (29.34% as of 27 February 2017)
- In 2006, the HNA Group acquired two airlines in Hong Kong, Hong Kong Airlines and Hong Kong Express Airways.
- In 2011, the HNA Group paid US$260 million for a foreclosure-threatened Manhattan office tower at 1180 Sixth Avenue and purchased the Cassa Hotel New York for US$126 million.
- In May 2011, the HNA Group purchased a 20% interest in the NH Hotel Group for €431.6 million (US$610.7 million) and in November 2014, HNA increased its ownership to 29.5%.
- In August 2011, the HNA Group purchased GE Seaco via its Bohai Leasing affiliate for US$1.05 billion, the world's 5th largest marine container leasing company.
- In October 2012, the HNA Group completed its acquisition of a 48 percent stake in Aigle Azur, France's second largest airline, for €52 million.
- In June 2013, the HNA Group purchased TIP Trailer Services, Europe's largest truck and trailer leasing company (with 45,000 units), from G.E. Capital.
- In January 2015, affiliate Bohai Leasing purchased the Bermuda-based container leasing group, Cronos Limited, for €2.18 billion.
- In June 2015, HNA purchased a 6.2% interest in the South African airline, Comair.
- In June 2015, HNA Group bought a 15 percent stake in Red Lion Hotels Corporation from Columbia Pacific Advisors.
- In July 2015, HNA Group purchased airport ground handler Swissport International Ltd. from PAI Partners SAS for 2.73 billion Swiss francs (US$2.8 billion).
- In November 2015, the HNA Group announced it would invest US$450 million in low-cost carrier Azul Brazilian Airlines, becoming its single largest shareholder, with a 23.7% interest.
- In November 2015, HNA Group announced it would make a 10% investment in French hotelier Pierre & Vacances.
- In late 2015, HNA Group acquired the US-based start-up travel portal Travana with an investment of US$27.5 million.
- In January 2016, the HNA Group via its Bohai Leasing affiliate, purchased Irish aircraft leasing company Avolon. When combined with HNA's existing aircraft leasing business, the new entity with over 500 aircraft will become the world's fourth largest aircraft leasing business by asset value.
- In February 2016, the HNA Group agreed to purchase technology distributor, Ingram Micro for $6.0 billion, via its controlled affiliate, Tianjin Tianhai Investment Co Ltd.
- In April 2016, the HNA Group purchased the London-based, ICE - International Currency Exchange.
- In April 2016, the HNA Group purchased US$38B in sales Minneapolis-based Carlson Rezidor Hotel Group (owner of the Radisson brand) which included a majority interest in US$7 billion in sales Rezidor Hotel Group of Brussels.
- In April 2016, the HNA Group purchased gategroup, the 2nd largest airline-catering company in the world, for $1.5 billion.
- In May 2016, the HNA Group purchased 49.99% of Air France's catering and cleaning subsidiary, Servair, with the option to increase its stake to 80% if certain conditions are met. When combined with previously purchased Gategroup, HNA will own and operate the world's largest airline catering company.
- In May 2016, the HNA Group purchased a 13% interest in Virgin Australia Holdings with the option to increase its stake to 20%.
- In May 2016, the HNA Group purchased a 7% interest in private consortium Atlantic Gateway, the owner of 50% of TAP Airlines, as well as convertible shares, which if exercised, would increase its stake in Atlantic to 40% and its indirect ownership of TAP to 20%.
- In July 2016, the HNA Group purchased an 80% stake in the Zurich-based aircraft maintenance organization SR Technics from Abu Dhabi's state investment company Mubadala.
- In October 2016, the HNA Group announced that it would purchase 25 percent of Hilton Worldwide Holdings Inc. from the Blackstone Group LP for $6.5 billion.
- In January 2017, HNA Group announced the purchase of asset finance firm UDC Finance Limited, New Zealand's largest non-bank lender, for NZL $660 million (US$460 million) by its Tip Trailer Services affiliate in Europe. The sale was still pending as of October 2017 due to regulatory issues.
- In February 2017, HNA Group's HNA Capital arm purchased a 3.04% stake in Deutsche Bank. Their stake was soon after increased to 4.76% and then to 9.9% in May 2017, becoming their single largest shareholder.
- In March 2017, HNA Group announced that it would purchase an 82.5% equity interest in Frankfurt–Hahn Airport, a former US military airbase which is popular with budget and cargo carriers (though 120 km from Frankfurt). This is the HNA Group's first acquisition of a non-Chinese airport.
- In March 2017, HNA Property Group, an affiliate of HNA Group, announced that it would purchase 245 Park Avenue for $2.21 billion, one of the highest prices ever paid for a New York City skyscraper. HNA also announced that they would back Tishman Speyer in the construction of The Spiral, a $3.2 billion, Bjarke Ingels-designed, 65-story, 1,005-foot office tower in the Hudson Yards, Manhattan development.
- In March 2017, affiliates of the HNA Group purchased a 25 percent interest in Old Mutual's U.S. asset management business for US$446 million.
- In March 2017, affiliates of the HNA Group purchased an aggregate 400,000 square feet of land at the former site of the Kai Tak Airport in Hong Kong for US$1.135 billion. HNA plans to develop the land into a "world-class integrated residential complex."
- In April 2017, HNA Group affiliate, Avolon, completed the purchase of CIT Group's aircraft leasing business for US$10.38 billion making HNA the 3rd largest aircraft leasing company in the world with a fleet of 868 aircraft.
- In April 2017, HNA Group purchased a 16.8% stake in Swiss-based travel retailer Dufry. Their stake was increased to 20.92% in August 2017; the value of their interest is $1.4 billion.
- In April 2017, affiliates of the HNA Group purchased from Odebrecht its 60% share in a consortium that owns 51% of Rio de Janeiro–Galeão International Airport - Brazil's second busiest airport - giving HNA a 31.6% ownership interest. The remaining shares are owned by Brazilian airport manager Empresa Brasileira de Infraestrutura Aeroportuária (Infraero) (49%) and Changi Airports International Pte Ltd (19.4%) of Singapore.
The shares of HNA Group were owned by two companies directly: Hainan Jiaoguan Holding (Chinese: 海南交管控股; pinyin: Hǎinán jiāoguǎn kònggǔ; lit.: 'Hainan Traffic Administration Holding') for 70% and Yangpu Jianyun Investments (Chinese: 洋浦建运投资) for 30%. Two companies originally were incorporated by Chinese state-owned enterprises, such as Haikou Meilan International Airport.
Hainan Traffic Administration Holding was 50% owned by Tang Dynasty Development (Yangpu) (Chinese: 盛唐发展(洋浦)), 25% by Yangpu Hengsheng Chuangye (Chinese: 洋浦恒升创业) and 18.21% by Yangpu Zhongxin Airlines Holding (Chinese: 洋浦中新航空实业) and 6.78% by Hainan Xinhuading Trading (Chinese: 海南炘华鼎贸易) as of March 2017.
Tang Dynasty Development (Yangpu) was 65% owned by Hainan Province Cihang Charity Foundation (Chinese: 海南省慈航公益基金会) and 35% by Hong Kong incorporated company Tang Dynasty Development (simplified Chinese: 盛唐发展; traditional Chinese: 盛唐發展).
Tang Dynasty Development was 98% owned by Caymans-incorporated Pan-American Aviation Holding and 2% owned by Hainan Airlines.
Yangpu Hengsheng Chuangye was owned by HK incorporated company Headstreams Investment (simplified Chinese: 千江源投资; traditional Chinese: 千江源投資), which was 98% owned by Bharat Bhisé and 2% by R.J. Conrads in 2004. As in 2015 Bhisé still owned 98% of Headstreams Investment, while the 2% stake of Headstreams was owned by Caymans-incorporated HAC (RAC), Limited as in 2011. In 2016, Bhisé also transferred the stake of Headstreams to Jun Guan.
Yangpu Jianyun Investments and Yangpu Zhongxin Airlines Holding were owned by The Committee of Hainan Airlines Trade Union (Chinese: 海南航空股份有限公司工会委员会). However, all the stake owned by the union, were transferred in 2016. According to the record in the National Credit Information Publicity System, part of the stake (6.78%) of Hainan Traffic Administration Holding held by Zhongxin Airlines Holding was transferred to newly established company Xinhuading. While Jianyun Investments was now owned by HNA Group directors Chen Feng (Chinese: 陈峰, 35.05%), Wang Jian (Chinese: 王健, 35.05%), Chen Wenli (Chinese: 陈文理, 9.23%), Tan Xiangdong (Chinese: 谭向东, 6.89%), Li Jing (Chinese: 李箐, 6.89%) and Li Xianhua (Chinese: 李先华, 6.89%). For Zhongxin Airlines Holding, the owners also became the 6 shareholders of Jianyun Investments with the same ratio; for newly established Xinhuading, the shareholders were 4 more HNA Group directors Lu Ying (Chinese: 逯鹰), Zhang Ling (Chinese: 张岭) Huang Gan (Chinese: 黄玕) and Huang Qijun (Chinese: 黄琪珺).
After much speculation on his identity, Guan Jun, by-then the indirect second largest shareholder of HNA Group (who acquired the stake from Bharat Bhisé), donated the stake to a US-registered private foundation Hainan Cihang Charity Foundation, Inc. in 2017.
Reuters also interviewed Bharat Bhisé, who had served as a director of several subsidiaries of HNA Group, as well as a business partner in acquisition via Bhisé's owned Bravia Capital as well as a dealmaker, say he hold the shares of HNA Group indirectly, was “an 'accommodation' to the company and received no compensation for doing so”. HNA Group also sued in exile Chinese billionaire Guo Wengui for defamation in June 2017, which Guo was spreading the rumour on the identity of the true owner of the group.
In 2017, the Swiss Takeover Board ruled that HNA Group provided false information regarding Bhisé and Guan on the takeover of Gategroup. In September 2019, the Swiss Financial Market Supervisory Authority announced that it would lodge a criminal complaint against HNA Group for repeatedly filing false disclosures of its shareholding structure.
|structure of HNA Group based on legal filings|
- 2016年第二期海航集团有限公司可续期公司债券发行文件 [Pospectus of 2016 (batch 2) renewable bonds of HNA Group]. HNA Group (in Chinese). chinabond.com.cn. 15 August 2016. Archived from the original on 20 November 2016. Retrieved 19 November 2016.
- Company Overview of HNA Group Co., Ltd. Archived 2019-03-28 at the Wayback Machine. Bloomberg Business. Retrieved 11 February 2016.
- "Can a US$48 billion global shopping spree take this Chinese company into the Fortune 100?". South China Morning Post. Archived from the original on 2017-12-24. Retrieved 2017-12-24.
- "Archived copy" 海航集团成功进入美国《财富》2017年世界500强榜单. Sina (in Chinese). Archived from the original on 2017-08-13. Retrieved 2017-12-23.CS1 maint: archived copy as title (link)
- "Fortune Global 500 List 2018: See Who Made It".
- "China's HNA Group goes on a global shopping spree". The Economist. Archived from the original on 2017-10-12. Retrieved 2017-10-11.
- "Behind a Chinese Powerhouse, a Web of Family Financial Ties". www.nytimes.com. Archived from the original on 2018-01-11. Retrieved 2018-01-15.
- "HNA Group on the acquisition trail" Archived 2016-04-18 at the Wayback Machine. CAPA - Centre for Aviation. 11 August 2011. Retrieved 11 February 2016.
- "Biography of Chen Feng" Archived 2016-10-11 at the Wayback Machine. The Wharton Global Alumni Forum: June 12–13, 2009 | Beijing. Retrieved 11 February 2016.
- "HNA Chairman Chen Feng’s Growth Strategy: Go Global in the Downturn" Archived 2016-04-28 at the Wayback Machine. Knowledge@Wharton. 27 February 2013. Retrieved 11 February 2016.
- Wen, Wang (19 November 2014). HNA Group buys 8.3% equity stake in NH Hotel Group of Spain Archived 2016-05-06 at the Wayback Machine. China Daily. Retrieved 11 February 2016.
- Carsten, Paul (11 January 2016). "Uber drives into China tourism industry with HNA Group tie-up" Archived 2017-12-13 at the Wayback Machine. Reuters. Retrieved 11 February 2016.
- Mellor, William and Wang, Jasmine (23 May 2014). For Hainan Airlines's Chen Feng, rise of resort in China provides lift for a new sky empire Archived 2019-03-28 at the Wayback Machine. The Washington Post. Retrieved 11 February 2016.
- You've Never Heard of HNA Group. Here's Why You Will Archived 2018-01-27 at the Wayback Machine. The Fortune. December 24, 2017
- Fontanella-Khan, James (2016-02-18). "China's HNA to buy Ingram Micro for $6bn". Financial Times. ISSN 0307-1766. Retrieved 2016-02-23.
- Wei, Lingling; Deng, Chao (2017-07-23). "Xi's Sign-Off Deals Blow to China Inc.'s Global Spending Spree". Wall Street Journal. ISSN 0099-9660. Archived from the original on 2017-07-28. Retrieved 2017-07-28.
- "HNA Group's Dealings With U.S. Travel Startup to Be Probed". Bloomberg.com. 2017-07-20. Archived from the original on 2017-12-24. Retrieved 2017-12-18.
- "Banks That Funded HNA's $40 Billion Spending Spree Halt New Loans". Bloomberg.com. 2017-07-24. Archived from the original on 2017-07-27. Retrieved 2017-07-28.
- Julie Steinberg and Jenny Strasburg (March 12, 2018). "HNA in Talks to Sell Stake in Hilton Grand Vacations a Year After Investing". The Wall Street Journal. The New York Times, New York City, United States. Archived from the original on March 17, 2018. Retrieved March 17, 2018.
- "China's HNA reports debts have soared to $94bn". Financial Times. Archived from the original on 2018-07-15. Retrieved 2018-07-15.
- Hepher, Tim. "Exclusive: Airbus faces A330 delivery delays amid HNA Group woes -..." U.K. Archived from the original on 2018-07-15. Retrieved 2018-07-15.
- "Archived copy" 陈峰勾勒海航集团未来“飞行路线图” (in Chinese). Xinhua News. Archived from the original on 2017-12-24. Retrieved 2017-12-23.CS1 maint: archived copy as title (link)
- "Archived copy" 陈峰勾勒海航集团未来“飞行路线图” (in Chinese and English). Peking University. Archived from the original on 2017-12-24. Retrieved 2018-01-15.CS1 maint: archived copy as title (link)
- Grand China Air ups stake in Hainan Airlines to 35% Archived 2017-12-13 at the Wayback Machine. www.ch-aviation.com. December 24, 2017
- Ge, Lena (9 December 2015). "HNA Group's Air Guilin Unveils Its Logo and Livery" Archived 2016-02-17 at the Wayback Machine. China Aviation Daily. Retrieved 11 February 2016.
- "HNA Group to Restore Chang An Air as Independent Carrier". www.chinaaviationdaily.com.
- Horch, Dan (24 November 2015). "Brazilian Airline Azul Sells Stake to HNA Group of China" Archived 2017-07-09 at the Wayback Machine. The New York Times. Retrieved 11 February 2016.
- "HNA/Hainan Airlines buys 6.2% of South Africa's Comair, accelerating China-Africa aviation links" Archived 2016-03-02 at the Wayback Machine. CAPA - Centre for Aviation. 2 June 2015. Retrieved 11 February 2016.
- "HNA Group and Bravia Capital complete acquisition of ACT Airlines; rebranded as MyCargo Airlines" Archived 2016-02-16 at the Wayback Machine. CAPA - Centre for Aviation. 25 October 2011. Retrieved 11 February 2016.
- "Virgin Australia sells stake to China's HNA Aviation Group". The Sydney Morning Herald. 2016-05-31. Archived from the original on 2016-06-02. Retrieved 2016-05-31.
- "HNA Group: four airlines form U-FLY Alliance, world's first LCC grouping, showing HNA consolidation" Archived 2016-02-16 at the Wayback Machine. CAPA - Centre for Aviation.22 January 2016. Retrieved 11 February 2016.
- "Announcement" (PDF). www.cathaypacific.com. Archived (PDF) from the original on 2019-12-16. Retrieved 2020-02-24.
- "Cathay Pacific to buy airline HK Express". 2019-03-27. Archived from the original on 2019-03-30. Retrieved 2019-04-02.
- "HNA Group: HNA Capital" Archived 2015-12-29 at the Wayback Machine. HNA Group. Retrieved 11 February 2016
- "Episode 802: The Hotel at the Center of the World". Planet Money. NPR. 2017-10-27. Archived from the original on 2017-10-28. Retrieved 2017-10-28.
- "HNA Group: HNA Capital" Archived 2016-01-20 at the Wayback Machine. HNA Group. Retrieved 11 February 2016
- "HNA Group: HNA Holdings" Archived 2016-02-05 at the Wayback Machine. HNA Group. Retrieved 11 February 2016.
- "HNA Holdings: Airport Management"Archived 2015-12-02 at the Wayback Machine. HNA Group. Retrieved 11 February 2016
- "HNA Group: HNA Logistics" Archived 2016-03-02 at the Wayback Machine. HNA Group. Retrieved 11 February 2016
- "HNA Holding to rebrand as CWT International following Singaporean acquisition". South China Morning Post. Archived from the original on 2017-12-28. Retrieved 2018-01-15.
- "BRIEF-China approves HNA Innovation Finance Group's acquisition of some Glencore assets". Reuters. Archived from the original on 2017-12-24. Retrieved 2018-01-15.
- "Private Company:HNA Innovation Finance Group Co Ltd". Bloomberg. Archived from the original on 2017-12-24. Retrieved 2018-01-15.
- "Public Tender Offer by HNA Aviation (Hong Kong) Air Catering Holding Co., Ltd., Hong Kong for all publicly held registered shares with a nominal value of CHF 5.00 each of gategroup Holding Ltd, Kloten, Switzerland" (PDF). HNA Group. 19 May 2016. Archived from the original (PDF) on 24 February 2017. Retrieved 23 February 2017.
- "Wang Jian, the chairman of high-profile Chinese conglomerate HNA Group, has died in an accident, the company said Wednesday". CNN. 4 July 2018. Archived from the original on 4 July 2018. Retrieved 4 July 2018.
- "Wang Jian: HNA Loses Its Leader in Uncertain Times - Caixin Global". www.caixinglobal.com. Archived from the original on 2018-08-13. Retrieved 2018-08-13.
- "2015 Annual Report" (PDF). AID Partners Capital Holdings. Hong Kong Stock Exchange. 30 March 2016. Archived (PDF) from the original on 23 February 2017. Retrieved 23 February 2017.
- "SC 13D". www.sec.gov. Archived from the original on 2017-12-01. Retrieved 2017-05-11.
- "Correction: HNA cuts Deutsche Bank stake again". MarketWatch. 16 February 2018. Archived from the original on 16 February 2018. Retrieved 23 February 2018.
- "Consolidated Financial Statements and Management Report 2016" (PDF). NH Hotel Group. 23 June 2017. Retrieved 25 July 2017.
- Washington Post: "For Hainan Airlines’ Chen Feng, rise of resort in China provides lift for a new sky empire" By William Mellor and Jasmine Wang Archived 2019-03-28 at the Wayback Machine May 23, 2014
- New York Times: "Chinese Investors Pursue U.S. Property Deals" By JULIE CRESWELL Archived 2017-11-09 at the Wayback Machine June 25, 2013
- Wall Street Journal: "Massey Knakal Plays Role Refinancing Midtown Hotel" by Craig Karmin Archived 2016-08-05 at the Wayback Machine March 2, 2014
- Hotel News Now: "HNA Group acquires 20% stake in NH Hoteles" Archived 2017-11-09 at the Wayback Machine 17 May 2011
- Reuters: "China's HNA buys 8.33 pct of Spain's NH Hoteles from Italy's Intesa" Archived 2017-11-08 at the Wayback Machine November 11, 2014
- Bloomberg: "GE Agrees to $1.05 Billion Sale of SeaCo to HNA, Bravia" by Zachary R. Mider, Rachel Layne and Natalie Doss Archived 2017-11-08 at the Wayback Machine August 1, 2011
- Seaco Global website: "HNA Group and Bravia Capital to Acquire GE SeaCo" Archived 2017-11-09 at the Wayback Machine January 08, 2011
- The airline ceased operations in 2019.Wall Street Journal: "China's HNA Group to Buy Stake in France's Aigle Azur" by DINNY MCMAHON Archived 2017-11-08 at the Wayback Machine October 22, 2012
- Automotive Fleet News: "China-based HNA Group Inks Deal to Purchase TIP Trailer Services from GE Capital" Archived 2017-11-08 at the Wayback Machine July 10, 2013
- Seac Global: "Bohai Leasing Company purchases Cronos Limited" Archived 2017-11-08 at the Wayback Machine January 26, 2015
- Bloomberg: "After $17 Billion Deal Spree, Chen Juggernaut Loses in London" Archived 2017-11-08 at the Wayback Machine February 26, 2016
- "HNA Group and Azul Brazilian Airlines Forge Longterm Strategic Partnership". HNA. November 24, 2015. Archived from the original on November 23, 2015. Retrieved November 25, 2015.
- Air Transport World: "China’s HNA Group eyes further investments" by Victoria Moores Archived 2017-11-08 at the Wayback Machine June 22, 2016
- LePoint: "Après Fram, le chinois HNA s'intéresse à Pierre & Vacances - Le conglomérat HNA, ancien candidat à la reprise de Fram, pourrait prendre une participation de 10 % dans le groupe français spécialisé dans le tourisme" Archived 2017-11-08 at the Wayback Machine 09/11/2015
- "China Firm Discovers Downside of Deals" (PDF). Wall Street Journal. 6 Jul 2017. Archived (PDF) from the original on 16 October 2017. Retrieved 18 Dec 2017.
- "Avolon". www.avolon.aero. Archived from the original on 2020-02-22. Retrieved 2020-02-24.
- New York Times: "Ingram Micro Sold to Chinese Company for $6 Billion" By Amie Tsang Archived 2017-11-08 at the Wayback Machine February 18, 2016
- China Travel News: "HNA Group extends European foray in deal with forex provider ICE Archived 2017-11-08 at the Wayback Machine April 21, 2016
- Wall Street Journal: "China’s HNA to Buy Carlson Rezidor Hotel Group - HNA to also acquire Carlson’s stake in Stockholm-listed Rezidor Hotel Group" By WAYNE MA, KANE WU, and JOSH BECKERMAN Archived 2017-11-08 at the Wayback Machine April 28, 2016
- Bloomberg: "China's HNA to Buy Airline Caterer Gategroup for $1.5 Billion" Archived 2017-11-08 at the Wayback Machine April 11, 2016
- Financial Times: "HNA set to swoop on Air France’s Servair" May 30, 2016
- Financial Times: "China’s HNA group snaps up stake in Virgin Australia" by Adam Thomson and Jamie Smyth Archived 2016-06-11 at the Wayback Machine May 31, 2016
- Dinheiro: "Chineses da HNA podem ficar indiretamente com 20% da TAP" by Steven Governo Archived 2017-11-09 at the Wayback Machine 21 Maio 2016
- Air Transport World: "China’s HNA Group acquires majority stake in SR Technics" by Alan Dron Archived 2017-11-09 at the Wayback Machine July 20, 2016
- Bloomberg: "China’s HNA to Buy $6.5 Billion Hilton Stake From Blackstone" by Hui-Yong Yu and Neil Callanan Archived 2016-10-29 at the Wayback Machine October 24, 2016
- Reuters: "China's HNA extends reach to NZ with $460 mln purchase of non-bank lender UDC" by Jamie Freed Archived 2017-10-14 at the Wayback Machine January 11, 2017
- Interest.com New Zealand: "Chinese conglomerate HNA plans to place NZ finance company UDC under the wing of its large European-Canadian equipment service subsidiary TIP Trailer Services" Archived 2017-11-01 at the Wayback Machine May 12, 2017
- Financial Times: "China’s HNA snaps up 3% stake in Deutsche Bank - Conglomerate moves as embattled German lender’s share price shows signs of recovery" by James Shotter Archived 2017-11-08 at the Wayback Machine February 17, 2017
- Handelsblatt: "Report: China’s HNA Eyes State Bank" by Frank Drost Archived 2017-05-23 at the Wayback Machine 02 April 2017
- Bloomberg: "Deutsche Bank's Chinese Backer HNA Becomes Top Shareholder" by Eyk Henning and Steven Arons Archived 2017-11-08 at the Wayback Machine May 02, 2017
- South China Morning Post: "HNA to buy majority stake in Hahn airport in Germany - If deal goes ahead, it will help take the owner of Hainan Airlines take a step closer to becoming one of the world’s top 100 companies" by Sandy Li Archived 2017-09-01 at the Wayback Machine 06 March, 2017
- "China's HNA Is Buying a NYC Office Tower for $2.21 Billion". Bloomberg.com. 2017-03-20. Archived from the original on 2017-03-21. Retrieved 2017-03-21.
- The Real Deal: "HNA backs Tishman Speyer’s bets in Brooklyn, Hudson Yards" By Katherine Clarke Archived 2017-07-18 at the Wayback Machine April 05, 2017
- Bloomberg: "China's HNA Buys $446 Million Stake in Old Mutual U.S. Unit" Archived 2017-05-23 at the Wayback Machine March 25, 2017
- South China Morning Post: "HNA shares plunge after fugitive tycoon’s allegations" by Karen Yeung Archived 2019-11-19 at the Wayback Machine 24 April 2017
- Avolon News: "Avolon completes US$10.38 billion acquisition of CIT Group aircraft leasing business - Avolon becomes world’s third largest lessor with combined fleet of 868 aircraft" Archived 2017-05-23 at the Wayback Machine April 4, 2017
- China's Straits Times: "China's HNA buys 16.8% stake in Swiss firm Dufry" Archived 2017-09-01 at the Wayback Machine April 27, 2017
- Reuters: "China's HNA Boosts Dufry Stake, pursues CWT purchase plan" by Kane Wu Archived 2017-11-09 at the Wayback Machine August 21, 2017
- Macuhub: "Chinese group HNA enters the consortium that manages the airport of Rio de Janeiro, Brazil" Archived 2017-11-09 at the Wayback Machine April 27, 2017
- Jiang, Sijia (March 10, 2019). "HNA Group to sell stake in Hong Kong firm to Blackstone for $894 mln". Reuters. Archived from the original on March 26, 2019. Retrieved March 26, 2019.
- "Archived copy" 西安民生集团股份有限公司收购报告书 (in Chinese). 6 March 2004. Archived from the original on 19 February 2017. Retrieved 18 February 2017.CS1 maint: archived copy as title (link)
- "COMPOSITE DOCUMENT RELATING TO MANDATORY UNCONDITIONAL CASH OFFER BY FORTUNE (HK) SECURITIES LIMITED ON BEHALF OF HNA ECOTECH PIONEER ACQUISITION TO ACQUIRE ALL THE ISSUED SHARES OF ADVANCED CARD SYSTEMS HOLDINGS LIMITED..." (PDF). Advanced Card Systems Holdings. Hong Kong Stock Exchange. 1 March 2017. Archived (PDF) from the original on 22 April 2017. Retrieved 22 April 2017.
- "Who owns HNA, China's most aggressive dealmaker?". Financial Times. 2 June 2017. Archived from the original on 29 July 2017. Retrieved 29 July 2017.
- "FORMS RELATING TO LISTING FORM F" (PDF). AID Partners Capital Holdings. 25 August 2015. Archived (PDF) from the original on 5 October 2016. Retrieved 23 February 2017.
- "Hong Kong Exchanges and Clearing Limited". di.hkex.com.hk.
- Filing in Hong Kong Companies Registry
- Filings in National Credit Information Publicity System (in Chinese) http://www.gsxt.gov.cn[permanent dead link]
- "HNA's mystery shareholder passes stake to charity". Financial Times. 25 July 2017. Archived from the original on 4 August 2017. Retrieved 3 August 2017.
- "Exclusive: Big HNA stake was held in trust as a favor, company's dealmaker says". Reuters. 4 October 2017. Archived from the original on 5 October 2017. Retrieved 5 October 2017.
- "China Deal Machine HNA Group Sues Wealthy Chinese Fugitive Guo Wengui". Forbes. 16 June 2017. Archived from the original on 25 September 2017. Retrieved 25 September 2017.
- Ho, Prudence (25 November 2017). "HNA Provided False Detail on Gategroup Bid, Says Swiss Regulator". Bloomberg. Archived from the original on 26 November 2017. Retrieved 26 November 2017.
- Miller, John (2019-09-25). "Swiss watchdog pursues China's HNA over Dufry reporting". Reuters. Archived from the original on 2019-10-16. Retrieved 2019-10-16.
- "Swiss to file criminal complaint against China's HNA". Agence France-Presse. September 25, 2019. Archived from the original on October 19, 2019. Retrieved October 19, 2019.