China Renaissance, a top dealmaker in China's tech industry, has suspended trading of its shares and delayed the release of its annual results due to its founder's disappearance. The 52-year-old Bao Fan started the boutique investment bank in 2005 but went missing in February.
Shares in China Renaissance have plummeted since Bao vanished, falling as much as 50%. The company has been unreachable since the middle of February and had previously stated that Bao was "cooperating in an investigation" being carried out by certain authorities. However, it remains unclear what this investigation is about or whether Bao is still involved.
Chinese media have reported that Bao might be assisting in an investigation related to a former executive at China Renaissance. The company's board has also been unable to complete its auditors' work due to Bao's absence, resulting in the delay of its annual results.
Bao Fan was known as a veteran dealmaker who worked closely with top technology companies in China. He had brokered several high-profile deals, including the merger between Meituan and Dianping in 2015. His team has also invested in US-listed Chinese electric vehicle makers Nio, Li Auto, and helped Chinese internet giants Baidu and JD.com complete their secondary listings in Hong Kong.
The disappearance of China Renaissance's founder comes as China's top anti-graft watchdog launches an investigation into Liu Liange, former party secretary and chairman of Bank of China. The bank is state-owned and one of the country's four biggest lenders. This case highlights the growing scrutiny on high-ranking officials and executives in China's financial sector.
The suspension of trading in China Renaissance's shares raises concerns about the stability of the company and its ability to operate without its founder. The delay in releasing its annual results also raises questions about the accuracy and reliability of the company's financial reporting.
Shares in China Renaissance have plummeted since Bao vanished, falling as much as 50%. The company has been unreachable since the middle of February and had previously stated that Bao was "cooperating in an investigation" being carried out by certain authorities. However, it remains unclear what this investigation is about or whether Bao is still involved.
Chinese media have reported that Bao might be assisting in an investigation related to a former executive at China Renaissance. The company's board has also been unable to complete its auditors' work due to Bao's absence, resulting in the delay of its annual results.
Bao Fan was known as a veteran dealmaker who worked closely with top technology companies in China. He had brokered several high-profile deals, including the merger between Meituan and Dianping in 2015. His team has also invested in US-listed Chinese electric vehicle makers Nio, Li Auto, and helped Chinese internet giants Baidu and JD.com complete their secondary listings in Hong Kong.
The disappearance of China Renaissance's founder comes as China's top anti-graft watchdog launches an investigation into Liu Liange, former party secretary and chairman of Bank of China. The bank is state-owned and one of the country's four biggest lenders. This case highlights the growing scrutiny on high-ranking officials and executives in China's financial sector.
The suspension of trading in China Renaissance's shares raises concerns about the stability of the company and its ability to operate without its founder. The delay in releasing its annual results also raises questions about the accuracy and reliability of the company's financial reporting.
so like china renaissance is a major player in china's tech industry n they just suspend tradin of their shares cuz their founder Bao Fan went MIA lol 50% drop in value already what's happenin?! 
they said he was "cooperatin with an investigashun" but idk wat kinda investigashun tbh 
. this is like, super sus 
chinese media sayin he might be related to Bao Fan's disappearance 
but we dont no wat's goin on here 
. they need to know if China Renaissance is stable or not... n what's goin on with those annual results 
. this investigation is gettin more interestin by the day 
my guess is it's not just a coincidence he vanished right before the annual results were due. maybe there's more to this investigation than meets the eye... 
anyway this whole thing just sounds super suspicious. maybe it's not about the investigation but more like an excuse to ghost his investors? 
this is some crazy stuff going on... china renaissance is a huge dealmaker in china's tech industry and now its founder just disappears and shares are plummeting 
50% is like, wow! 
this whole thing is just really concerning... i'm not sure what's more worrisome, the fact that china renaissance is losing money or that bao might be in trouble 
! Shares have plummeted 50% & the annual results are delayed... what's going on?! 
! The scrutiny on high-ranking officials & executives in China's financial sector is real 
. How will the company recover from this? Will they be able to report accurate finances without Bao at the helm? 
This is getting more interesting by the minute... #ChinaRenaissance #BaoFan #MysteryInvestigation #FinancialScandals
But 50% drop in shares? That's crazy! On one hand, it's no wonder people are freaking out, but on the other hand, maybe this is an opportunity for China Renaissance to sort out its financials and become more transparent? I mean, who needs a founder who's "cooperating in an investigation" anyway? 
and no one knows where bao fan went 
it's not good for the company or investors 
maybe we'll find out when china renaissance finally releases its annual results 
and yeah, the delay in releasing their annual results is just icing on the cake... it's like they're trying to sweep this under the rug 
but seriously, this investigation into bao fan's disappearance does raise some concerns about corruption and stability in china's financial sector... we'll just have to wait and see how this all plays out 
. And with the investigation into Liu Liange going on right now, it just makes me wonder if there's more to this story than meets the eye 
And how long has Bao been missing now? February, right? That's like, two months ago... I guess we'll just have to wait and see what happens next. 
Was it something to do with his business dealings? Or was there more to it than that?!