HNA to integrate shipping and tech businesses

HNA to integrate shipping and tech businesses

China’s HNA Group is currently working on a plan to create a new business entity formed by the integration of its tech business and logistics business.

A source at HNA Group told Splash that the restructuring started in late 2016 and HNA EcoTech Group is going to integrate the assets of HNA Logistics, which will no longer run as a separate business entity.

HNA Logistics controls the group’s shipbuilding unit Jinhai Heavy Industry and a series of listed companies including Tianhai Investment, HNA Cold Chain, Shareco and Zhijing Supply Chain, which runs Zhijing Shipmanagement. The total assets of HNA Logistics are about RMB80bn ($11bn).

HNA Group said last year that it would focus on tech, which would enhance the operations of its existing businesses including logistics and manufacturing, as part of its future development strategy.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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