HNA Technology Co., Ltd. formerly known as Tianjin Tianhai Investment Co., Ltd. is a Chinese holding company which specialized in marine transportation services. However, in recent year it was most known as the investment vehicle of

HNA Group HNA Group Co., Ltd., is a Chinese conglomerate headquartered in Haikou, Hainan, China. Founded in 2000, it was involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and more. It is a part owner ...

to acquire American company Ingram Micro. The shares of Tianhai Investment, A share and B share (Chinese stock terminology) were both listed in the

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Excha ...

History

The company was fined by

China Securities Regulatory Commission The China Securities Regulatory Commission (CSRC) is a government ministry of the State Council of the People's Republic of China The State Council, constitutionally synonymous with the Central People's Government since 1954 (particu ...

in 2003 for delay to publish 2002 Annual Report. In 2015 Tianjin Marine Shipping was renamed to Tianhai Investment. In 2016, Tianhai Investment acquired Ingram Micro in a

leveraged buyout A leveraged buyout (LBO) is one company's acquisition of another company using a significant amount of borrowed money ( leverage) to meet the cost of acquisition. The assets of the company being acquired are often used as collateral for the loa ...

, which the company borrowed a huge sum from the

Agricultural Bank of China Agricultural Bank of China (ABC), also known as AgBank, is one of the "Big Four" banks in China. It was founded on 10 July 1951, and has its headquarters in Dongcheng District, Beijing. It has branches throughout mainland China, Hong Kong, Lond ...

. In November 2017, as part of a planned

reverse IPO A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public compan ...

, the listed company was proposed to rename to HNA Technology, namesake of its largest shareholder HNA Technology Group. According to an interview with a staff from parent company HNA Technology Group in 2019, HNA Technology had 11 ships to be sold, including

Capesize Capesize ships are the largest dry cargo ships with ball mark dimension: about 170,000 DWT (deadweight tonnage) capacity, 290 m long, 45 m beam (wide), 18m draught (under water depth). They are too large to transit the Suez Canal (Suezmax lim ...

cargo ships. It was reported that the company had sold a ship ''Grand Amanda'' in 2018.

References

External links

* Companies listed on the Shanghai Stock Exchange Companies based in Tianjin HNA Group Holding companies of China Civilian-run enterprises of China {{China-company-stub