The Paper reporter Shao Bingyan

　　HNA Holdings entered the countdown to apply for decap and increase capital.

　　On the evening of August 10, Hainan Airlines Holdings Co., Ltd. (ST HNA, 600221.SH, hereinafter referred to as "HNA Holdings") issued an announcement stating that it had received the China Securities Regulatory Commission's "Advance Notice of Administrative Penalty" (hereinafter referred to as the "Notice"). "").

Previously, HNA Holdings received the "Notice of Filing a Case" from the China Securities Regulatory Commission on December 17, 2021, and was placed on file for suspected information disclosure violations.

　　On August 11, HNA Holdings opened the daily limit at 1.38 yuan.

　　The "Notice" shows that HNA Holding's suspected information disclosure violations are divided into two aspects. In terms of failing to disclose non-operating related transactions in accordance with regulations, including relevant related parties and capital occupation, failure to disclose non-operating related transactions in a timely manner, and regular Report major omissions.

In terms of failure to disclose related guarantees as required, including failure to disclose related guarantees in a timely manner and major omissions in periodic reports.

　　In this regard, the China Securities Regulatory Commission fined HNA Holdings a total of 3 million yuan, and warned HNA executives such as Xu Jun, Liu Weijing, Chen Ming, Zhang Zhigang, Ma Zhimin, Li Xiaofeng, Zhang Hongqing, Zhao Guogang, Xiao Fei, Xie Haoming, and Sun Dong. and fines.

　　Among them, Xu Zheng was fined the highest, amounting to 1 million yuan.

According to the announcement, Xu Jun served as president of HNA Holdings from February 2018 to July 2019, director from December 2018 to March 2022, and chairman from July 2019 to May 2021.

After investigation, Xu Jun reviewed and approved 143 illegal guarantees during his tenure, and learned that HNA Holdings had problems such as the occupation of non-operating funds by related parties.

When can ST Hainan Airlines "take off its hat"?

　　The "Notice" shows that the China Securities Regulatory Commission has completed its investigation of HNA Holdings' suspected information disclosure violations.

The “Announcement on the Special Self-Inspection Report on the Governance of Listed Companies” disclosed by HNA Holdings on January 30, 2021 The adjudicated reorganization plan was resolved.

　　According to the announcement, the company's current operating conditions are normal.

The final result of this administrative penalty shall be subject to the Administrative Penalty Decision issued by the China Securities Regulatory Commission.

The "Notice" received by the company this time does not touch the situation of major illegal forced delisting stipulated in the "Shanghai Stock Exchange Listing Rules".

　　When can I take off my hat?

HNA Holdings stated on the investor interaction platform on July 28 that the company’s early self-examination found that there were matters such as non-operating capital occupation, undisclosed guarantees, and assets requiring attention from the original shareholders and related parties. To solve the above problems, the company's stock is subject to other risk warnings.

As of December 31, 2021, all matters involved in the company's self-inspection have been rectified.

On December 17, 2021, the company received the "Notice of Filing a Case" from the China Securities Regulatory Commission. The China Securities Regulatory Commission has filed an investigation into the company's historical issues and is currently waiting for the CSRC to issue a conclusive investigation opinion.

The company is actively cooperating with the China Securities Regulatory Commission to carry out relevant work. After the completion of the investigation, the company will submit an application to the Shanghai Stock Exchange to remove the cap.

　　But to really take off the cap, we still need to wait for the inspection of the 2022 annual report.

　　Previously, HNA Holdings mentioned in the announcement that if the company's audited net assets at the end of the 2022 period are negative, according to the relevant provisions of the "Stock Listing Rules", the company's shares will be issued a delisting risk warning after the 2022 annual report is disclosed. .

　　Industry insiders pointed out that the regulatory investigation on HNA Holding’s historical problems such as capital occupation, illegal guarantees, and assets requiring attention has come to an end.

Combined with the related party debt repayment plan and reorganization plan disclosed by HNA Holdings, its debt scale will be greatly reduced through debt-to-equity swaps and major shareholder debt repayment. The financial cost has dropped significantly compared with before the reorganization.

　　According to surging news reporters from HNA, at the semi-annual work conference of HNA Aviation, Fang Wei, chairman of Fangda Group, mentioned in his speech, "If Fangda wants to introduce capital and inject capital, first of all, it has to wait for the listed company's previous decision to deal with violations of laws and regulations. Only then can we fix the increase, which is the provisions of the securities law.”

　　Affected by factors such as the repeated outbreak of the new crown epidemic, rising jet fuel prices, and due to operating losses and financial exchange losses, HNA Holdings estimates that the net profit attributable to shareholders of listed companies in the first half of this year is -11.95 billion to -12.96 billion yuan, compared with the previous year. In the same period, it was -881 million yuan.

Last year, the revenue was 34.002 billion yuan, an increase of 15.65% year-on-year. The net profit attributable to the parent was 4.721 billion yuan, and the net profit in 2020 was -64.003 billion yuan.

Three executives on warning and fines list resign

　　That night, HNA Holdings also issued an announcement stating that due to work adjustment reasons, Xu Jun applied to resign from the company's directorship and related positions in the special committees under the board of directors, Chen Ming applied to resign from the company's directorship, and Li Xiaofeng applied to resign from the company's vice president and board secretary; due to personal reasons. , Liu Qiang applied for his resignation as a director of the company and related positions in special committees under the board of directors.

　　The announcement stated that Xu Jun, Liu Qiang and Li Xiaofeng will not hold any other positions in the company and its holding subsidiaries after their resignation, and Chen Ming will continue to serve as the chairman of the company's holding subsidiary China Xinhua Airlines Group Co., Ltd.

　　On July 26, the senior personnel of HNA Holdings underwent a major change of blood.

Among them, Xu Jun no longer serves as the company's president, and Chen Ming no longer serves as the company's vice chairman.

　　The three executives Xu Jun, Li Xiaofeng, and Chen Ming were among those who were warned and fined by the CSRC in the Notice.

　　Among them, Li Xiaofeng served as vice president and board secretary from April 2019 to March 2022, and approved 10 violation guarantees during his tenure.

Chen Ming served as vice chairman from June 2018 to March 2022, and approved 2 violation guarantees during his tenure.

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