Dear warrior friends,
On the day of the Press Briefing, I will be sitting right here in Pierre Hotel, with Steven Bannon by my side, taking questions from journalists down there.
Do you want to ask any questions about the CCP? Such as their so-called rule of law? (Journalist: Why are you here today?) I want to talk about China’s CCP and …
Wang Qishan’s Kleptocracy Plan
With his Kleptocracy Plan, the second step of Wang Qishan’s move is to set up a family trust foundation.
This plan started in the 1980s. With this plan, all the money is to be put into the trust fund. They think this is their cake and they want to eat it. But as a matter of fact, it’s the people’s cake. They want to rob the country and the Chinese people of their lives and assets. They are robbing the people’s government too.
Cihang Foundation is not a charitable fund. It is a fully operational, profitable, covered-up asset that cannot be pursued for legal responsibilities, a liability-free private fund.
The fund will never take any debt for HNA’s domestic loans. And it is exempted from penalties by law.
Only 11 days after my disclosure of HNA’s truth on May 11th 2017, the fund was activated.
On July 17, HNA announced to the world that its 29.5% equity possessed by Guang Jun was donated to New York Cihang Foundation. Is this a donation? This is stealing. Stealing and donating are two different things.
They have stolen the 600 billion from the Chinese people and moved it to the US. This stolen money was directly transferred into the trust fund of Wang Qishan’s family. How dare the bait and switch?!
The ultimate beneficiary of all Hainan Cihang Funds in New York is Wang Qishan’s Family Trust Fund. The ultimate beneficiaries of Wang Qishan’s Family Trust Fund are Guan Jun, Liu Chengjie, Sun Yao, Yao Mingshan, and Yao Mingduan.
Wang Qishan, you remember these words, and Yao Qing, Sun Yao, Liu Chengjie, Guan Jun, Yao Mingshan: all your assets, every dime will be taken away from you. Let’s wait and see! Our warrior friends will regard this war against you as a lifelong career.
HNA Group is doomed
Over the past few years, HNA has accumulated RMB 1.21 trillion (US$ 192 billion) in assets.
Before Miles’ disclosure, HNA Group kept expanding. …buy buy buy!
After the disclosures, HNA Group has kept….selling, selling, selling!
In January 2015, affiliate Bohai Leasing purchased the Bermuda-based container leasing group, Cronos Limited, for €2.18 billion.
In June 2015, HNA purchased a 6.2% interest in the South African airline, Comair.
In June 2015, HNA Group bought a 15 percent stake in Red Lion Hotels Corporation from Columbia Pacific Advisors.
In July 2015, HNA Group purchased airport ground handler Swissport International Ltd. from PAI Partners SAS for 2.73 billion Swiss francs (US$2.8 billion).
In November 2015, the HNA Group announced it would invest US$450 million in low-cost carrier Azul Brazilian Airlines, becoming its single largest shareholder, with a 23.7% interest.
In November 2015, HNA Group announced it would make a 10% investment in French hotelier Pierre & Vacances.
In late 2015, HNA Group acquired the US-based start-up travel portal Travana with an investment of USD27.5 million.
In January 2016, the HNA Group via its Bohai Leasing affiliate, purchased Irish aircraft leasing company Avolon. When combined with HNA’s existing aircraft leasing business, the new entity with over 500 aircraft will become the world’s fourth largest aircraft leasing business by asset value.
In February 2016, the HNA Group agreed to purchase technology distributor, Ingram Micro for $6.0 billion, via its controlled affiliate, Tianjin Tianhai Investment Co Ltd.
In April 2016, the HNA Group purchased the London-based, ICE – International Currency Exchange.
In April 2016, the HNA Group purchased US$38B in sales Minneapolis-based Carlson Hotels (owner of the Radisson brand) which included a majority interest in US$7 billion in sales Carlson Rezidor Hotel Group of Brussels.
In April 2016, the HNA Group purchased gategroup, the 2nd largest airline-catering company in the world, for $1.5 billion.
In May 2016, the HNA Group purchased 49.99% of Air France’s catering and cleaning subsidiary, Servair, with the option to increase its stake to 80% if certain conditions are met. When combined with previously purchased Gategroup, HNA will own and operate the world’s largest airline catering company.
In May 2016, the HNA Group purchased a 13% interest in Virgin Australia Airlines with the option to increase its stake to 20%.
In May 2016, the HNA Group purchased a 7% interest in private consortium Atlantic Gateway, the owner of 50% of TAP Airlines, as well as convertible shares, which if exercised, would increase its stake in Atlantic to 40% and its indirect ownership of TAP to 20%.
In July 2016, the HNA Group purchased an 80% stake in the Zurich-based aircraft maintenance organization SR Technics from Abu Dhabi’s state investment company Mubadala.
In October 2016, the HNA Group announced that it would purchase 25 percent of Hilton Worldwide Holdings Inc. from the Blackstone Group LP for $6.5 billion.
In January 2017, HNA Group announced the purchase of asset finance firm UDC Finance Limited, New Zealand’s largest non-bank lender, for NZL $660 million (USD $460 million) by its Tip Trailer Services affiliate in Europe. The sale was still pending as of October 2017 due to regulatory issues.
In February 2017, HNA Group’s HNA Capital arm purchased a 3.04% stake in Deutsche Bank. Their stake was soon after increased to 4.76% and then to 9.9% in May 2017, becoming their single largest shareholder.
In March 2017, HNA Group announced that it would purchase an 82.5% equity interest in Frankfurt–Hahn Airport, a former US military airbase which is popular with budget and cargo carriers (though 120km from Frankfurt). This is the HNA Group’s first acquisition of a non-Chinese airport.
In March 2017, HNA Property Group, an affiliate of HNA Group, announced that it would purchase 245 Park Avenue for $2.21 billion, one of the highest prices ever paid for a New York City skyscraper. HNA also announced that they would back Tishman Speyer in the construction of The Spiral, a $3.2 billion, Bjarke Ingels-designed, 65-story, 1,005-foot office tower in the Hudson Yards, Manhattan development.
In March 2017, affiliates of the HNA Group purchased a 25 percent interest in Old Mutual’s U.S. asset management business for US$446 million.
In March 2017, affiliates of the HNA Group purchased an aggregate 400,000 square feet of land at the former site of the Kai Tak Airport in Hong Kong for US$1.135 billion. HNA plans to develop the land into a “world-class integrated residential complex.”
In April 2017, HNA Group affiliate, Avolon, completed the purchase of CIT Group’s aircraft leasing business for US$10.38 billion making HNA the 3rd largest aircraft leasing company in the world with a fleet of 868 aircraft.
In April 2017, HNA Group purchased a 16.8% stake in Swiss-based travel retailer Dufry. Their stake was increased to 20.92% in August 2017; the value of their interest is $1.4 billion.
In April 2017, affiliates of the HNA Group purchased from Odebrecht its 60% share in a consortium that owns 51% of Rio de Janeiro–Galeão International Airport – Brazil’s second busiest airport – giving HNA a 31.6% ownership interest. The remaining shares are owned by Brazilian airport manager Empresa Brasileira de Infraestrutura Aeroportuária(Infraero) (49%) and Changi Airports International Pte Ltd (19.4%) of Singapore.
Major HNA Sellouts
HNA’s interest is higher than profits. HNA is second only to Softbank Group and Berkshire. It is one of the ten largest companies in the world. The more important thing is that the interest bill of 29.3 billion far exceeds its operating profit, which means that if HNA wants to pay the principal interest, HNA can only rely on lifting more debt, or disposing of assets.
As of the end of January 2018, nearly 150 billion assets have been sold only for this year.
In January 2018, HNA Group took out the One York office project in Sydney, Australia for Au$205 million. The buyer was a private equity firm in Central New York, Blackstone Group.
In February 2018, HNA Group sold 1180 Avenue of Americas on 6th Avenue in Manhattan in New York for $300 million. The buyer was northwood investors. HNA’s subsidiary also sold a luxury home in the 64th block of the Upper East Side for $90 million. In addition, HNA Group, No.6656, KaiTak District, Hong Kong and the 6562 Good Land Lot were sold to Hong Kong Henderson Land for HK$15.959 billion.
In March 2018, Hong Kong listed company Wheelock announced that it would acquire a piece of land in Hong Kong from HNA for HK$6.359 billion. The transaction is expected to to sign a sale and purchase agreement before March 29.
On March 12, 2018, Hainan Airlines, a subsidiary of HNA Group, announced that the 100% equity transfer price of Hainan Gaohe Real Estate Development Co., Ltd held by HNA Real Estate was RMB 1.136 billion and 797 million yuan respectively. A total of 1.133 billion yuan.
On March 13, 2018, HNA Group prepared to take out a 25% stake in the Hilton Grand Vacation Resort Group, valued at $1.2 billion. In addition, Deutsche Bank AG announced that HNA’s shares have fallen to 8.8%, which is HNA’s second reduction on Deutsche Bank’s. HNA brings in cash of 370 million US dollars after two reductions.
In June 2018, Northwood Investments accepted Hainan Airlines’ 123 mission st. Office building in San Francisco, USA, for $300 million. HNA will sell a portion of its equity in office building at 245 Park Avenue, New York City USA.
In July 2018 Hainan Airlines announced that it will transfer 80% of the equity of Wuhan Lanhailinkong Industrial Park to Vanke’s subsidiary with a background of 321 million yuan.
On October 19th, Hainan Airlines announced that it plans to take 1005 equity of Shenzhen HNA city project with a price of 1.385 billion yuan.
October 25, 2018 Hainan Airlines put the Boeing 787 “Dream” business jet “2-deer” for sale.
By Miles Kwok and staff editor