HNA Technology Investments expects to make profit for 2017
28/01/2018 11:52
HONG KONG, Jan 28 (Reuters) - HNA Technology Investments
Holdings Limited 2086.HK , a Hong Kong-listed company bought by
Chinese conglomerate HNA Group HNAIRC.UL last year, said on
Sunday it expects to make a net profit for 2017.
HNA Technology's parent HNA is facing global regulatory
scrutiny of its governance and ownership. urn:newsml:reuters.com:*:nL8N1PJ0DH
Nearly half of HNA's listed units have suspended trading in
their shares, ahead of an anticipated restructuring. HNA faces
rising financing costs after a $50 billion acquisition spree
over the past two years. urn:newsml:reuters.com:*:nL4N1PK1K7
HNA Technology Investments, valued at HK$959 million
($122.68 million), recorded a net loss of HK$18.5 million in
2016. It said in a statement the turnaround was primarily
attributable to the improvements in its sales and gross profit
of its smart card products operation.
($1 = 7.8171 Hong Kong dollars)
(Reporting by Clare Jim; Editing by Jane Merriman)
((clare.jim@thomsonreuters.com; +852 2912 6653; Reuters
Messaging: clare.jim.thomsonreuters.com@reuters.net))
Keywords: HNA TECH INVTS RESULTS/PROFIT ALERT