Cihang Foundation (hereinafter referred to as Foundation) is a private foundation established by HNA Group on October 8, 2010. Its original amount of funds is RMB 20 million, which was derived from the donation of HNA Group. In October 2013, HNA Group has donated 20% of its equity to the Foundation, making it become the largest single shareholder of the Group, and also become an important charity platform for HNA to implement social responsibilities and gratitude to the society. Both the competent unit of business and the registration management authority of the Foundation are Hainan Provincial Civil Affairs Bureau.
At present, Cihang Foundation has obtained the reply about identifying the pre-tax reduction eligibility of the public welfare relief donation of the Foundation issued by Hainan Provincial Finance Bureau, Hainan Provincial Civil Affairs Bureau, Hainan Provincial Office, SAT and Hainan Local Taxation Bureau, and has obtained the reply about determining tax-exempt status of the Foundation issued by Hainan Provincial Finance Bureau and Hainan Local Taxation Bureau.
The Foundation aims to fulfill the responsibility of an enterprise citizen, carry out charity activities, promote the social harmonious progress and bravely undertakes social responsibility. As a non-profit commonweal organization, the property of the Foundation will be mainly used for social welfare activities such as disaster relief, poverty alleviation, charitable relief and public welfare activities.