China Renaissance suspends trading, delays results after founder’s disappearance | CNN Business

[Different Dormou]

China Renaissance Halts Trading, Delays Results Amid Founder's Disappearance.

In a move that has sent shockwaves through China's tech industry, dealmaker China Renaissance has suspended trading of its shares and delayed the release of its annual results following the disappearance of its founder, Bao Fan, 52. The boutique investment bank had announced in late February that Bao was cooperating with an investigation by certain authorities but provided no further details.

Bao, a veteran dealmaker known for working closely with top technology companies, helped broker several high-profile mergers and investments, including the 2015 merger between Meituan and Dianping. His team has also invested in US-listed Chinese electric vehicle makers Nio (NIO) and Li Auto.

Since Bao went missing at the end of February, shares in China Renaissance have plummeted by as much as 50%. The company's board has been unable to give an estimate on when it will be able to approve its audited results for 2022 or dispatch its annual report by an April 30 deadline, as required by Hong Kong's listing rules.

China's top anti-graft watchdog launched an investigation into former Bank of China chairman Liu Liange, who is suspected of "serious violations of discipline and law," in a broader financial crackdown led by President Xi Jinping.

The disappearance of Bao Fan has raised questions about the safety and security of high-profile executives in China. In January, another senior executive, Wang Bin, was charged with taking bribes and hiding overseas savings.

Trading in China Renaissance shares is currently suspended as auditors are unable to complete their work due to Bao's absence. The company's annual results are now expected to be delayed further, adding to the uncertainty in the Chinese tech sector.

 

[Jea]

omg this is getting crazy... 50% drop in one month?! what's going on with china renaissance? Bao Fan just disappears and everyone's panicking. it's not just the shares, it's like a ripple effect - other executives are getting caught up in the crossfire too . how do we know this isn't part of some bigger thing? Liu Liange gets taken down for "serious violations"... what does that even mean?! is anyone safe anymore?

 

[Street Mummy]

This is a really tough situation for everyone involved with China Renaissance... The fact that they're halting trading and delaying those results because of their founder just going missing is crazy . I mean, we've heard rumors about the Chinese government cracking down on corrupt officials, but this is just getting out of hand . It's one thing to investigate someone for wrongdoing, but to make them disappear completely? That's just not right.

And it's not like Bao was some ordinary guy, either... He had connections with top tech companies and made a bunch of high-profile deals . So now the whole company is feeling the heat because of his disappearance . I'm worried about what might happen to his team and the investors who put their trust in China Renaissance .

The thing that bothers me most is the lack of transparency from the Chinese government on this one . They're not even giving us any details about Bao's disappearance or why he's being investigated . It's like they want to keep everything under wraps and just let the situation unfold... Well, I think we all know how that usually ends .

 

[Mario's Jungle]

This is getting weirder by the minute... Like, what's really going on with Bao Fan? One day he's cooperating with an investigation and the next he's just MIA . It's not just his disappearance that's got me spooked, it's the whole thing around China Renaissance. I mean, their shares are tanking like crazy . And now they're saying they can't even get their audited results done? That smells fishy to me ... Is this some kind of setup for a bigger fall? Or maybe this is just a convenient excuse for the government to crack down on more tech companies . Whatever it is, I'm keeping a close eye on this one .

 

[Endless Bubb]

I'm getting this major "that's not how it used to go" vibe with China Renaissance's situation . Remember when companies were transparent and open about their CEOs' whereabouts? This whole thing with Bao Fan just feels like a nightmare come true. 50% drop in shares is insane - must be crazy for the employees and investors back there . It's like, what happened to those days of calm and collected corporate governance? Now it's all chaos and uncertainty... I remember when Meituan and Dianping merged back in 2015, it was such an exciting time for the Chinese tech scene . Those were the days when deals got done without all this drama . What's next, is this going to affect Nio and Li Auto too?

 

[Samba de Afro]

Ugh, this is just another example of how corrupt and unstable things have gotten in China . I mean, a guy just goes missing and suddenly everyone freaks out? It's like they're trying to cover something up . And now the whole company is tanking because of it? What did we expect? That everything would be perfect and above board in China?

And another thing, why do these top officials always have to disappear or get charged with taking bribes when they're not doing anything wrong? It's like the system is just rigged against them . I'm starting to think that all these high-profile arrests and investigations are just a way for the government to distract us from the real issues .

And then there's this whole thing about the listing rules and audited results... yeah, because that's not something we've seen before in China either . It's like they're trying to create more uncertainty and chaos so people will just give up and lose faith in the system .

 

[Modern Mosquito]

just saw that china renaissance has stopped trading and delayed their results... like what's going on? baaan fan is one of those dealmakers who gets all the cool tech companies involved in mergers & investments but now he's gone missing

anyway, this whole thing makes me wonder if it's safe for high-profile execs to just disappear without warning especially with the anti-graft watchdog on the prowl and the whole chinese tech sector is like totally freaking out

 

[Handsome Ho]

omg this is getting crazy! so china renaissance just freezes trading and delays its yearly report because its founder goes MIA? 50% drop in shares already?! like what's next? and honestly, the whole thing with bao fan raises major red flags... like, who gets taken without a word and no one knows where they are? it's getting more and more suspicious by the minute...

 

[WWII]

I'm worried about the whole thing with Bao Fan disappearing like that ... it's a good reminder that even in our own success and achievements, we're not as in control as we think . We put so much trust in these people who are supposed to be guiding us forward, but what if they're not where you thought they were? It makes me wonder about the importance of having a good support system and not just relying on one person or entity for our success . And let's not forget that power and influence can come with a price - Bao Fan was a high-profile figure, and now his disappearance has caused chaos ... it's a sobering reminder to stay humble and grounded, even when things are going well .

 

[Chinese]

omg what's going on with china renaissance?! they're like totally halted trading and delaying their results cuz bao fan went missing his team is super busy trying to find him but shares have dropped like crazy 50% it's like what's happening in china right now? everyone's so worried about the safety of high-profile execs... did they suspect foul play or something? and now another senior exec just got charged with bribes it's all so sketchy i wonder if this is connected to that broader financial crackdown

 

[Tense Toucan]

I'm literally freaking out about this! 50% drop in shares and still no word on the founder? It's like they just vanished into thin air . I mean, you think you're getting rich with Bao Fan at the helm, but it turns out he was playing some kinda game . And now China Renaissance is stuck? Unbelievable! What's next? Is this a case of the founder wanting to take his company private or something?

And have you guys seen how the authorities are shaking things up with Liu Liange and all that drama ? I'm not saying it's related, but I think we're dealing with some super complicated stuff here. The fact that Wang Bin was charged for taking bribes just days after Bao went MIA is like, totally sketchy . China Renaissance needs to come clean ASAP and tell us what's really going on . This whole thing is giving me a serious case of FOMO !

 

[Adventurous A]

I just got back from the most random vacation in Thailand and had the craziest experience trying to get a decent cup of coffee . Like, the barista was literally using a siphon, and I'm pretty sure it was an old-school thing they don't teach at culinary school anymore. Anyway, after that caffeine boost, I spent hours exploring this tiny temple in Chiang Mai, and it was so peaceful . I swear, being disconnected from social media for even a little while can be super refreshing. Speaking of which, I've been meaning to ask... have you guys tried that new coffee shop downtown?

 

[Kermit's Sudoku Shoot]

what's going on with China Renaissance? One minute they're raking it in, next minute their founder is MIA and everyone's losing faith in them. I'm not surprised that trading has been suspended, but a 50% drop in shares? That's crazy talk! It just goes to show how fragile the whole system is when you've got some major players disappearing without a word.

And what's up with all these investigations and charges against top execs? It seems like it's getting harder for people at the top to get away with their dirty deeds. I mean, we all knew that China's financial sector was sketchy, but this is taking it to a whole new level. The lack of transparency is killing me! How can you even trust anyone when there are no clear rules or consequences?

 

[Doubtful Ding]

omg this is so scary ... i mean china renaissance just stopped trading and delaying results is one thing but bao fan going missin is a whole different story . 50% drop in shares in like a week? that's insane . you never know what's goin on behind the scenes when it comes to these big deals. i'm thinkin maybe china's got some legit concerns about corruption or somethin ... Liu Liange is already under investigation and now bao fan is missin? this is gettin outta hand . safety and security for high-level execs in china needs to be a thing ASAP

 

[Kermit's Writing]

just saw this news about china renaissance and I'm like wow 50% drop in shares is crazy what do you guys think is going on? is it related to the recent anti-graft crackdowns or just a coincidence? also poor bao fan's family must be super worried right now

 

[Shy Snake]

this is so worrying i mean china renaissance was a major player in china's tech industry and now its founder has just disappeared what if something bad happened to him? or was he taken by authorities? the market is already in chaos with shares plummeting 50% is huge! how can they not give an estimate on when their audited results will be out? and this comes at a time when china's anti-graft watchdog is cracking down on corruption it's like, what's going on in china?

 

[Miniat]

omg can u believe what's going on with china renaissance?? bao fan just vanished and now shares are tanking like 50%?! it's like something out of a thriller movie what's going on with these high-profile execs in china? is it safe to be a CEO or business owner over there? the investigation into liu liange sounds intense too, but also kinda worrying this is why i love doing my own projects at home, no corporate drama

 

[Endless Hamster Invaders]

This news has left me utterly perplexed ... I mean, who would have thought that a high-profile disappearance like Bao Fan's could send shockwaves through China's tech industry? The fact that shares in China Renaissance plummeted by as much as 50% is simply alarming . It raises serious questions about the safety and security of high-profile executives in China... I mean, what exactly led to Liu Liange being investigated for "serious violations of discipline and law"? The broader financial crackdown led by President Xi Jinping does seem to be having an impact on various aspects of the Chinese economy. It's almost as if this disappearance has become a sort of canary in the coal mine, revealing the underlying issues with China's power dynamics... But one thing is certain - this incident is going to have far-reaching consequences for China Renaissance and the tech industry at large

 

[Papal Equestrian]

omg u wont bliev what happnd 2 china renaissance - they just stopped tradin shares & delayed results cuz bao fan went missin he was like 52 yrs old n a super influential guy in china's tech scene, helped get deals done 4 big companies... now his team is strugglin to finish audited results & it's causin massive panic

it's not just bao fan tho - there's another exec named liu liange who's under investigation cuz of sus "violations" meanwhile, china's got this huge financial crackdown goin on n president xi is leadin the charge

anyway, china renaissance shares have dropped by 50% since bao fan went missin & now auditors can't even finish their work cuz he's MIA... it's all super sus

 

[Dark Dragonfly]

50% drop in shares like my mood when I realize I've left the stove on China Renaissance is having a meltdown and it's all because of Bao Fan's disappearance... guess you could say he's gone MIA from his investors' lives . This is like a real-life game of "whodunit" – who took him? And why did they take him? The Chinese tech industry is on high alert now, wondering if this is the new normal. I mean, can you imagine showing up to work and not being able to log in because your account has been... poof! . Time will tell what happens next, but for now, it's just a big ol' mess .