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一、案例背景回顾渤海租赁是海航集团旗下的租赁公司,主营市政基础设施、电力、交通运输以及新能源设施设备租赁。2010年天津渤海租赁与*ST汇通开始实施重大资产重组方案,以资产置换加定向增发股份的方式借壳*ST汇通上市,并于2011年上市成功。海航集团以资本运作著称,利用集团内复杂的关联方关系进行资产倒卖、借壳上市、海外并购以实现急速扩张。渤海租赁作为海航集团旗下的一个上市公司,借壳上市仅三年就在集团内进行了多项
I. Case Background Review Bohai Leasing is a leasing company under HNA Group. It mainly leases municipal infrastructure, electric power, transportation and new energy facilities and equipment. 2010 Tianjin Bohai Leasing and * ST Huitong began the implementation of major asset restructuring program to asset replacement and private placement of shares backdoor * ST Huitong listed and listed in 2011 success. HNA Group, known for its capital operation, utilizes the complex relationships among its affiliates to resell assets, backdoor listings and overseas mergers and acquisitions in order to achieve rapid expansion. Bohai Leasing as a listed company under the HNA Group, backdoor listing only three years in the group conducted a number of