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 to acquire American company

Ingram Micro Ingram Micro is an American distributor of information technology products and services. The company is based in Irvine, California, U.S. and has operations around the world. History Ingram Micro's origins trace back to the founding of distrib ...

. The shares of Tianhai Investment, A share and B share (Chinese stock terminology) were both listed in the Shanghai Stock Exchange.

History

The company was fined by China Securities Regulatory Commission in 2003 for delay to publish 2002 Annual Report. In 2015 Tianjin Marine Shipping was renamed to Tianhai Investment. In 2016, Tianhai Investment acquired

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, ...

. 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 compa ...

, 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