Caixin
Jun 16, 2022 04:16 AM
BUSINESS

HNA Innovation Kicked Off Shanghai Stock Exchange

A property in Jiulongshan Tourist Resort.
A property in Jiulongshan Tourist Resort.

A former unit of HNA Group Co. Ltd. received a delisting notice from the Shanghai Stock Exchange as 2021 revenue fell below the minimum of 100 million yuan ($14.9 million) and the company reported four consecutive years of losses.

As required by the exchange, the company’s shares will begin a delisting period June 16, and the final trading date is expected to be July 6. On April 29, the last trading day before a suspension, HNA Innovation’s stock closed at 1.22 yuan per share, giving the enterprise a market value of 1.59 billion yuan.

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