HNA Groups assets continue to be sold: Xinda Asset takes over Shanghai HNA Tower Project

category:Finance
 HNA Groups assets continue to be sold: Xinda Asset takes over Shanghai HNA Tower Project


According to people familiar with the matter, many companies went to see the HNA building project and some interested companies talked about it, but in the end, Xinda and HNA reached the acquisition deal.

China Cinda Asset Management Co., Ltd., formerly known as China Cinda Asset Management Co., Ltd., was founded in April 1999. It is the first financial asset management company approved by the State Council. In June 2010, China Cinda Asset Management Company was restructured as a joint stock company. On December 12, 2013, Cinda was listed on the main board of the stock exchange of Hong Kong (01359. HK), becoming the first Chinese financial asset management company to enter the international capital market. At present, China Cinda has 33 branches (including Hefei support base management center), and 8 Platform subsidiaries engaged in non-performing asset management, asset management and financial services.

In fact, since the end of 2017, it was reported that HNA Group was suffering from capital chain tension, HNA industry under HNA Group began to seek partners for projects located in Shanghai, Suzhou, Jiaxing, Zhejiang and other places.

According to the promotional materials previously obtained by surging news, the total construction area of Shanghai HNA building project is 87395 square meters. HNA holds 1-5 floors and 12-20 floors of office buildings, with a total commercial area of 5895 square meters and a property area of 34500 square meters. The project is wholly owned by Shanghai Dahua industry, with a rental rate of 70% and about 55 customers. It is mainly composed of HNA Group member enterprises and Korean partners (Samsung, Hyundai Heavy Industry, etc.), with an annual income of about 140 million yuan. The project has raised 2.706 billion yuan.

In September 2009, three companies under HNA Group, grand China logistics, HNA real estate and HNA industry, won the plot 1-10, unit E18 of Huangpu River central section, with a floor price of RMB 1.824 billion, a premium rate of 65.82% and a floor price of RMB 36481 / m2 in the form of a consortium, which at that time set the highest land unit price record in Shanghai in 2009. At the same time, this is the headquarters of HNA Group in Shanghai.

This commercial office land extends to Puming road in the East, to the planned plot in the south, to the planned public green space in the west, and to 1-8 plot in the north, with a total area of 20800 square meters. According to the positioning regulations, the building of commercial entertainment and cultural land is designed to reflect the needs of Shanghai headquarters economy and two centers urban construction. After completion, it needs to become a global (regional) headquarters office for financial, shipping and logistics enterprises.

It is worth mentioning that in the development process of Shanghai HNA building project, HNA Group once mortgaged the project to foreign-funded enterprises for loans.

Shanghai Grand Xinhua Yaxiu Investment Co., Ltd., the project company where the plot is located, has carried out equity pledge for at least two times, and the pledgee is King Kong chemical (Kunshan) Co., Ltd.. HNA Asset Management Group pledged 118.37 million shares on October 22, 2015. The pledgee is Yuanyuan Investment Management (Shanghai) Co., Ltd. The controlling shareholder of the company is King Kong chemical (Beijing) Co., Ltd. According to the national enterprise credit information system, Jingang chemical (Kunshan) Co., Ltd. is a limited liability company (solely invested by Taiwan, Hong Kong and Macao legal persons), with a registered capital of US $85 million, and the investor is KCC chemical (HK) Holdings Limited. Kaixi chemical Holding Co., Ltd. is actually a company registered in Hong Kong by Korean company KCC kingkoryo chemical.

As early as 2018, HNA has sold the pilot project in Qiantan to Fujian Real Estate Company FUSHENG International (00627. HK).

On May 2, 2018, HNA investment (000616. SZ) announced that the company signed a cooperation agreement with Shanghai maimo Investment Management Co., Ltd. on May 1. The company plans to transfer 100% equity and creditors rights of the holding subsidiary HNA Investment Group Shanghai Investment Management Co., Ltd., with a total transaction price of 2.9 billion yuan.