HNA Group announced today that it has landed on the Fortune Global 500 for the first time, ranking No. 464 with annual revenue of approximately US$25.6 billion.
HNA Building in Haikou, China
Since its establishment in 1993, the Group has been steadily developing its business for more than two decades. Through progress and reform, HNA grown from a local air freight enterprise into a conglomerate with core businesses spanning across aviation, holdings, finance, tourism and logistics. Its business presence has expanded from Hainan Island – the South Sea Pear to around the world with total assets of nearly RMB500 billion. It owns 10 listed holdings companies and provides more than 110,000 job vacancies for society.
As a result of its ongoing efforts to establish a new commercial culture, the Group has developed uniquely effective operations, management procedures and control mechanisms which can bring together the interests of the community, people and itself. This innovative commercial culture is developed based on the distinct Chinese culture and has combined the values of socialism with Chinese characteristics and the management systems of global conglomerates, making it widely applicable to other companies.
During the past two decades, HNA Group has adopted corporate social responsibility (CSR) as one of its business development strategies, as it promotes the corporate culture of “Do good for society, and do good for others” and strives for a better society through action. To date, HNA Group has contributed total cash and in-kind donations exceeding RMB900 million through CSR activities. In October 2010, it has set up a private foundation, Hainan Province Cihang Foundation. In October 2013, it donated 20% of its equity interest to this foundation, making it the single largest shareholder of the Group. The foundation has become an important charitable platform for the Group to give back to society.
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