Hainan Airlines subsidiary boosts stake in aircraft landing gear firm

Hainan Airlines Holding Co., Ltd. (HNA Holdings) announced its controlled subsidiary, HNA Aviation Technology Co., Ltd. (HNA Technology), plans to acquire a 38.8% uncalled equity stake in Shenyang Beixiang Aviation Technology Co., Ltd. (Beixiang Technology) from North Heavy Industries Group Co., Ltd. for 1 yuan. This transaction will increase HNA Technology's ownership in Beixiang Technology from 51% to 89.8%, making it a more significant controlling shareholder.

The acquisition is considered a related party transaction but does not constitute a major asset reorganization. The transaction was approved by HNA Holdings' board of directors with four votes in favor, zero against, zero abstentions, and five recusals from related directors. It falls within the board's decision-making authority and does not require shareholder approval.

Beixiang Technology, established in August 2023, specializes in aircraft landing gear maintenance and is currently in its operational start-up phase. As of September 30, 2025, Beixiang Technology reported total assets of approximately 102.4865 million yuan, total liabilities of 11.98 million yuan, and owner's equity of 90.5064 million yuan. The acquisition and capital injection are expected to accelerate Beixiang Technology's production capabilities and business development.