Shares of five units related to domestic conglomerate HNA Group listed in the A-share market slumped on Monday amid investor concerns over the company's capital position.
Among the five units, shares of Haiyue Share and HNA Infrastructure declined by the 10 percent daily limit.
Shares of the other three firms, HNA Investment, Northeast Electricity and HNA Innovation Ventures dropped 3.38 percent, 3.83 percent and 9.75 percent, respectively.
On Friday, HNA-Caissa, listed in Shenzhen, suspended trading, pending an announcement "that could have a material impact on its share price," making it the fifth HNA-affiliated unit to have halted trading since December 2017, news website guanchazhe.com reported.
The dismal market situation follow reports that the aviation-to-developer group was facing ballooning debts as the central government tightened its grip on capital outflows and China stepped up efforts to deleverage .
HNA's flagship Hainan Airlines and subsidiary Capital Airlines have reportedly failed make payments for aircraft leases.
In an interview with Reuters on Friday, HNA Group chairman Chen Feng admitted the group was having liquidity problems following "a big number of mergers." Chen said that China's transition from rapid to moderate GDP growth was also affecting HNA's access to new financing."