Hainan Airlines Group (HNA) plans to spend three years to develop its equipment manufacturing business, reports caijing.com.cn.

A senior manager at Jinhai Heavy Industry, a shipbuilding subsidiary of HNA, said that based on Jinhai's development, HNA will expand its business to shipping maintenance, ship engine manufacturing and container production.

Jinhai president Li Guofeng said that his company would acquire an overseas shipping design company in the near future. It is also preparing for an A share listing. Li noted that Jinhai has delivered 15 product orders this year with a total load weight of more than two million tons.

Shares of Hainan Airlines (600221), another subsidiary of HNA, rose 6.84 percent to close at 6.72 yuan today. 

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