What is the relationship between HNA Group and HNA and Daxinhua?

In terms of equity relationship, HNA Group is one of the shareholders of HNA, but it is not the largest shareholder. The ultimate actual controller is the State-owned Assets Supervision and Administration Commission of Hainan Province, which controls Hainan Airlines through wholly-owned Hainan Development Holdings Co., Ltd., which in turn controls Grand China Airlines.

Grand China Airlines Co., Ltd., referred to as Grand China Airlines, is an airline under HNA Group. Hainan Airlines Group, as the core enterprise of HNA Group's aviation industry, Daxinhua Airlines Co., Ltd. was formally established and put into operation, mainly engaged in domestic trunk lines and major international routes from domestic hub airports to major cities.

HNA Group has experienced 25 years of development. From a single local air transport enterprise to a large enterprise group with air tourism, modern logistics and modern financial services as its core business.

Hainan Airlines Co., Ltd., founded in 1993, is one of the fastest growing and most dynamic airlines in China, and is committed to providing all-round seamless aviation services for passengers.