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.