19th，HNA Innovation Co., Ltd. (hereinafter referred to as "HNA Innovation") issued an announcement stating that the external guarantee is overdue，The company’s original wholly-owned subsidiary Yacht Bay Resort Hotel’s 188bet app download principal balance 4.700 million yuan and 188bet app download interest not repaid on schedule，The company provided joint liability guarantee for the 188bet app download and was sued by China Everbright Bank Ningbo Branch。

HNA Innovation Express，As the borrower, Yacht Bay Resort signed the "Fixed Assets and Project Financing 188bet app download Contract" on June 11, 2015，The 188bet app download amount is RMB 500 million，The 188bet app download period starts from June 11, 2015 and ends on June 10, 2025，Interest settled quarterly，188bet app download principal repayment in installments。Company、The company’s controlling shareholder HNA Travel signed the “Guarantee Contract” on the same day，Provide joint liability guarantee for the above-mentioned loans，The guarantee period is three years from the expiration date of the debt period。

As of the date of this announcement，The principal balance of the guaranteed 188bet app download is 4.700 million yuan，Yacha Bay Resort Hotel returned its principal of 30 million yuan in December 2018。2019，The Yacht Bay Resort Hotel has not returned the principal of 60 million yuan overdue，Overdue interest 963.870,000 yuan；2020，Yacht Bay Resort Hotel added overdue interest 987.720,000 yuan。

according to announcement，Ningbo Branch of China Everbright Bank, the creditor of the above 188bet app download, has filed a lawsuit with the First Intermediate People’s Court of Hainan Province，Requesting an order to order Yacht Bay Resort Hotel to repay the principal of the 188bet app download in RMB 4.700 million yuan；188bet app download interest RMB 1591.990,000 yuan (tentatively calculated until February 27, 2020) and interest from February 28, 2020 to the date when all 188bet app download principal and interest are repaid、Compound interest；Compensation for the plaintiff’s legal fees of RMB 500,000 to realize the creditor’s rights；HNA Innovation and HNA Tourism are jointly and severally responsible for the repayment of the above debts。

188bet app download pointed out，If Yacht Bay Resort Hotel cannot fulfill the debt involved in the lawsuit，China Everbright Bank Ningbo Branch has the right to discount or auction the real estate located in Building 32 of Yacht Bay, Zhapu Town, Pinghu City, Zhejiang Province with the Yacht Bay Resort Hotel as mortgage、The proceeds from the sale will be paid first。The company and HNA Travel serve as joint liability guarantors，will be jointly and severally liable for the unpaid portion of the above debts，It will have a certain impact on the company’s performance。

The above-mentioned joint and several liability is "exacerbating" 188bet app download's poor performance in recent years。Due to 2018、The audited net profit for two consecutive fiscal years in 2019 was negative，188bet app download Stock has implemented a delisting risk warning from May 6, 2020。

Screenshot of 188bet app download 2020 First Quarter Report

April 29，The first quarter report of 2020 released by 188bet app download，The company’s operating income in the first quarter was only 19.610,000 yuan，Decrease by 60 year-on-year.17%。

*Source of this article：China-Singapore latitude and longitude,Author: Sino-Singapore Jingwei, original title: "4.Sued over 188bet app download of 700 million, HNA Innovation’s revenue in the first quarter was less than 200,000》.