The details of HNA's restructuring plan have been exposed, and the debt settlement has reached the "tailing period" and is expected to be "reborn from the fire".
Buying, buying, buying, buying, selling and selling all the foreign appearances, the higher the blow, the more painful the fall. HNA Chen Feng, the former "business fighter holding the Buddha bead", may have realized too late, these 28 years are "like a dream bubble", Fang Xiao got the head is "Nanke a dream"!
HNA bankruptcy reorganization entered the sprint stage, Chen Feng ended up "Nanke a dream"
HNA Group Announcement
On September 24, HNA Group announced that it had received a notice from the Hainan public security organs that Chen Feng, chairman of HNA Group Co., Ltd., and Tan Xiangdong, chief executive officer, had been taken compulsory measures in accordance with the law for suspected violations and crimes.
The announcement said that the operation of HNA Group and its member enterprises is stable and orderly, the bankruptcy reorganization work is smoothly carried out according to law, and production and operation are not affected in any way.
Founded in 1993, HNA Group has entered an eventful autumn in recent years, and if the bankruptcy reorganization work can be carried out smoothly, it is expected to be reborn. Even so, it is fair to say that HNA's "flight attendant" service is very good, very "eye-catching", and it is still one of the few excellent airlines in China. What is sad is that for a long time, it may be difficult for Hai airline sister to see the chairman Chen Feng who twisted the Buddha bead in his hand in the cabin.
The Buddha said, "The past mind is unattainable, the present mind is unattainable, and the future mind is unattainable." "Settle in the moment, and don't be attached." Chen Feng, the chairman of HNA, a 58-year-old believer in Buddhism and keen on practicing tantra and Lao Zhuang, chanted all day long about "coming out of the world and joining the world", and when he spat out "good self-made" from his mouth two years ago, he may also know that he is lost and it is difficult to return.
Chen Feng, chairman of HNA Group, was suspected of violating the law and was taken compulsory measures according to law, as the old saying goes: those who come out of the mix always have to pay back!
Gu Gang, head of the joint working group of Hainan HNA Group and secretary of the party committee of the group
According to China Economic Network and other media reports, following the release of the "Reorganization Plan (Draft) of Hainan Airlines Holdings Co., Ltd. and Ten Subsidiaries" on September 26, HNA Aviation's main business held a second creditors' meeting on September 27 to further disclose the details of the reorganization plan and state the company's current situation again. After the meeting, the company announced that it had disclosed a summary version of the draft.
The Draft Reorganization Plan divides the claims of the 11 companies under the HNA Group that are coordinated and reorganized in accordance with the law into six categories: one is employee claims, the second is tax claims, the third is property secured claims, the fourth is ordinary claims, the fifth is inferior claims, and the sixth is common benefit debts. After the completion of the reorganization, for HNA, it is expected to achieve changes in four aspects: first, the net assets of HNA Holdings will be "normalized"; second, the interest-bearing liabilities after the reorganization will be reduced to 60 billion yuan and repaid in 10 years; third, the introduction of war investment will be 38 billion yuan; fourth, the aircraft leasing cost will be significantly reduced.
According to the draft, as of now, a total of 4,915 creditors have declared 9,215 claims to the managers of 11 companies, with a total amount of 397.209 billion yuan. After review by the administrator, the total amount of claims that have been submitted to the court for confirmation and that subsequent courts can rule to confirm is about 161.293 billion yuan.
At present, the bankruptcy reorganization of HNA Group has reached the sprint stage. On the day of the Mid-Autumn Festival on September 21, Gu Gang, head of the joint working group of Hainan HNA Group and secretary of the party committee of the group, went to Haikou Meilan Airport, Hainan Airlines Meilan Base, and HNA Technology Hangar No. 2 to offer condolences at the grassroots level, gu Gang said that after the reorganization, the name and registration place of Hainan Airlines will never change.
HNA is currently the fourth largest aviation group in China. Gu Gang said: "This may be the last Mid-Autumn Festival when 100,000 HNA people gather together as a unit, but the future spin-off of HNA is always under the leadership of the party, if the end of the world is close together, HNA people are still a family, bless HNA, bless HNA, bless everyone who supports HNA." ”
HNA Group safety production and operation meeting
On September 18, at the 39th week safety production and operation meeting of HNA in 2021, Gu Gang, head of the joint working group of Hainan HNA Group and secretary of the Party Committee of HNA Group, revealed the follow-up work of HNA Group's risk mitigation at the meeting:
Among them, there are two points that have attracted the most attention from the outside world: (1) After the reorganization, the rights and interests of the old shareholder team and cihang foundation in HNA Group and member enterprises will be completely cleared and will no longer have relevant equity. (2) After the reorganization, HNA will be split into four sectors for independent operation, and each will return to the healthy development of its main business. If the bankruptcy reorganization is successfully completed, HNA will split the reorganization into four completely independent operating sectors - aviation sector, airport sector, financial sector, commercial and other sectors, with the shareholders of each free new actual controller leading the way forward and being completely independent of each other.
The "aviation section" dominated by "HNA Holdings", the "airport section" based on "HNA Foundation", the "financial sector" dominated by "Bohai Leasing", and the commercial and other sectors dominated by "supply and marketing collection" will have "new owners" at that time; after the old shareholders have all withdrawn, each section is independently operated, and there are also "new owners", from a certain point of view, the hustle and bustle of Hainan Group may withdraw from the jianghu.
At present, there are only two members of the management team introduced on the official website of HNA Group, one is Li Xianhua, vice chairman of the board of directors of HNA Group Co., Ltd., and the other is Sun Mingyu, chairman of the board of supervisors of HNA Group Co., Ltd., chairman of the board of directors and secretary general of Hainan Cihang Public Welfare Foundation.
Holding a Buddha bead, Chen Feng was born into the world, and Fang Xiao was "like a dream bubble"
Chen Feng, founder and chairman of HNA Group
"Have you ever thought about monastic practice?" Chen Feng, founder and chairman of HNA Group, replied three years ago. "I'm still in trouble, I owe so much money to the bank and still haven't paid it back." Chen Feng, known as "a business fighter holding a Buddha bead", began to believe in Buddhism at the age of 58, especially keen on tantra and Lao Zhuang, and usually has a string of Buddha beads in his hand.
Chen Feng learned Buddhism, HNA Group also once "Buddha culture" prevailed, according to Chen Feng's introduction, the architectural shape of the HNA headquarters building in Haikou is a Buddha statue sitting cross-legged, and the headquarters lobby is enshrined with a tall wood carved Buddha statue, and even the back of the HNA captain's badge is also printed with a Buddha statue. For a while, when HNA employees met with customers, they would also give gifts together. It is said that whenever Chen Feng is quiet in the middle of the night, he must meditate and meditate, and even when he takes a plane, he does not forget to meditate cross-legged.
Holding the Buddha beads, Chen Feng was "born" and "joined the world", and now that he has been taken compulsory measures, he should know what "like a dream bubble" is. In the past, someone asked Chen Feng, is he a Buddha or a fighter? He argued, "Manjushri Bodhisattva is wise and courageous in his left hand with a sutra in his left hand and a sword in his right hand. ”
With the passage of time, chen Feng, who is currently restricted in his freedom, can truly understand the true meaning of Manjushri's "sword of wisdom": "Cut off my five aggregates of troubles and demons, and make me quickly give birth to great wisdom." ”
Chen Feng
Chen Feng, born in June 1953 in Taiyuan, the capital of Shanxi Province, later called his "name" "Taisheng"; when he was 2 years old, his father Chen Xifan went to Beijing to work, and the family went to Beijing. Chen Feng's ancestral home is Shangsanjiao Village, Sanjiao Township, Huozhou City, Shanxi, his father Chen Xifan is from Huozhou, and his mother is also from Shanxi, a native of Yuncheng Xiezhou.
According to his original vision of retirement at the age of 65, but the plan could not keep up with the changes, another HNA group co-founder and former chairman Wang Jian died suddenly in France, Chen Feng returned to the front line of management.
Chen Feng himself broke the news that he has stepped into the civil aviation circle since he was 16 years old, and more than 50 years later, Chen Feng, now 68 years old, may not have a chance with the civil aviation circle in the future, and HNA Group is no longer his "home world".
Chen Feng, who claims to use the Buddhist scriptures as a guide every day and must be called "cause and effect," needs to be further observed to what extent and how serious his suspected violation of the law has been.
After Wang Jian's unexpected death, Chen Feng, who had retired for two years, came out of the mountains again, he drastically adjusted the management of HNA, more than 200 executives reused by former chairman Wang Jian were dismissed, and his son Chen Xiaofeng, in just two years, was promoted from M5 employees to director and president of HNA Group like a helicopter, so HNA is regarded as "home world", can the company be good? Can the cohesion of the human heart be high?
Chen Xiaofeng, son of Chen Feng (left)
According to a previous report by China Economic Weekly, the tree map of HNA Group's equity relationship combed out has three sheets of nearly three meters long each, and "the largest number of equity relationship levels is as many as 7 layers." HNA Group will fall into the point of bankruptcy reorganization and insolvency, is there anyone in the middle of this "big transfer" of wealth?
Chen Feng's son, Chen Xiaofeng, was born in 1979, grew up abroad since childhood, and after returning from the United States, he was appointed as an assistant to Wang Jian, the chairman of HNA Group at that time. In August 2018, he was promoted to Deputy CEO of HNA Group and joined the Board of Directors in September. It is worth mentioning that Chen Feng's nephew Chen Chao has also been appointed as the chief investment officer of HNA Group. Chen Chao is the son of Chen Guoqing, Chen Feng's younger brother.
As the saying goes, "three generations of wealth are not enough", in order to ensure the longevity of the foundation, it is understandable to arrange a relay of generations. However, Chen Feng quickly helped his son to the position under the dangerous situation of HNA, which is not very reasonable in grasping the time node.
HNA is overwhelmed, although it has its own buying, buying and buying "plus leverage" crazy expansion and other crux of the problem, but at the level of corporate governance, there are many problems, but also to many enterprises sounded a wake-up call.
This article is a wave of original content
Unauthorized reproduction and sending of excerpts in any form is strictly prohibited