(Hong Kong Composite News) After the death of the former second-in-command, the Chen Feng family, chairman of HNA Group, has strengthened its control over the company. It was announced yesterday that Chen Feng’s son has been appointed as a director of the board of directors.

Based on reports from Bloomberg, Hong Kong Economic Journal and Ming Pao, HNA Group issued an announcement on management adjustments yesterday, saying that Chen Xiaofeng was appointed as a director of the board of directors, and he was recently appointed as assistant to the chairman and deputy chief executive officer.

HNA has undergone several personnel changes this year. Chen Chao, Chen Feng’s nephew, was appointed as the vice president of the group this time. He previously served as the chief investment officer of HNA Group and has now stepped down.

After Wang Jian, co-chairman of HNA Group and chairman of HNA International, died unexpectedly in France in July this year, his position was replaced by Tan Xiangdong, vice chairman and CEO of HNA Group, who will step down as chairman of HNA International this time.

In addition to personnel transfers, HNA Group also announced yesterday that it will readjust and simplify the group strategy, focusing on its core businesses of aviation, tourism and logistics to support the group's long-term growth.

Tan Xiangdong, vice chairman and CEO of HNA, said that he is very pleased that the group is readjusting its strategic focus and continuously improving its performance to support HNA's long-term growth.

Chen Feng, chairman of HNA, said that he is full of confidence in the group's adjustment and rebalancing of domestic and foreign priority projects. The group has streamlined its structure and ensured that it has the right talents to continue to maintain HNA's position in the aviation, tourism and logistics fields.

HNA's liabilities are currently among the highest among Chinese companies, and it has disposed of a series of assets in order to reduce its debts.According to its announcement issued in July, the group has sold assets worth 60 billion yuan (RMB, the same below, S$12 billion) in the first half of the year.

However, the current cash flow of HNA Group does not seem to be improving. Not only has HNA Innovation, a listed company of the HNA Group, recently reported a breach of trust plan, but also sources said that HNA Technology’s 7.5 billion acquisition of online shopping platform Dangdang.com is about to be aborted. Caixin Media began to snipe at HNA's finances and operations, and published several articles within a month to expose HNA's financial worries The latest article in the recent article is HNA's strange misappropriation of 8 billion misty accounts and the earlier release of HNA Group's liquidity problem unsolved. 300 million loans of its listed companies are overdue and an in-depth analysis of HNA's financial problems: Another case of loan default by a subsidiary of HNA Group Co., Ltd. (hereinafter referred to as HNA Group) has been added.On September 13, HNA Innovation (600555.SH), an A-share listed company under HNA Group responsible for the development of scenic spots, was publicly pursued by the trust issuer for defaulting on a 300 million yuan trust loan, and said it would initiate judicial proceedings.HNA Innovation subsequently issued an announcement confirming that the loan was overdue.The announcement issued by Hunan Provincial Trust Co., Ltd. (hereinafter referred to as Hunan Trust) stated that the company established the Hunan Trust middot; HNA Innovation Project Collective Fund Trust Plan on September 8, 2016 to issue working capital loans to HNA Innovation.The loan scale of the trust plan is 300 million yuan, and the loan period is 24 months. HNA Tourism Group Co., Ltd. (hereinafter referred to as HNA Tourism), the controlling shareholder of HNA Innovation, provides joint liability guarantee...