China Renaissance Delays Results as Founder's Disappearance Sparks Probe into Former Executive.
Chinese investment bank China Renaissance has suspended trading of its shares and delayed the release of its annual results due to the unavailability of its founder, Bao Fan. The 52-year-old veteran dealmaker was last seen in February, and his absence has sent shockwaves through the company's operations.
The delay has resulted from auditors being unable to complete their work on the company's financial statements as a result of Bao's disappearance. Moreover, the board is struggling to provide an estimate for when it will be able to approve its audited results or dispatch its annual report by an April 30 deadline.
Bao Fan was known as a key figure in facilitating mergers and acquisitions deals with top technology companies in China. His firm had invested in US-listed Chinese electric vehicle makers Nio (NIO) and Li Auto, among other clients. The current uncertainty surrounding Bao's whereabouts has led to a significant drop in the company's shares, which plummeted by as much as 50% since his disappearance.
In late February, China Renaissance revealed that its founder was cooperating with an investigation being carried out by certain authorities in the country. However, no further details have been released about the nature of the investigation or Bao's involvement.
Chinese media reports suggest that Bao might be assisting in an investigation related to a former executive at China Renaissance. This has added to the speculation surrounding his disappearance and the ongoing probe into another high-profile figure in Chinese politics, Liu Liange, who is under investigation for "serious violations of discipline and law."
As tensions surrounding Bao's disappearance continue to mount, investors are watching with bated breath as China Renaissance works to resolve its financial uncertainty.
Chinese investment bank China Renaissance has suspended trading of its shares and delayed the release of its annual results due to the unavailability of its founder, Bao Fan. The 52-year-old veteran dealmaker was last seen in February, and his absence has sent shockwaves through the company's operations.
The delay has resulted from auditors being unable to complete their work on the company's financial statements as a result of Bao's disappearance. Moreover, the board is struggling to provide an estimate for when it will be able to approve its audited results or dispatch its annual report by an April 30 deadline.
Bao Fan was known as a key figure in facilitating mergers and acquisitions deals with top technology companies in China. His firm had invested in US-listed Chinese electric vehicle makers Nio (NIO) and Li Auto, among other clients. The current uncertainty surrounding Bao's whereabouts has led to a significant drop in the company's shares, which plummeted by as much as 50% since his disappearance.
In late February, China Renaissance revealed that its founder was cooperating with an investigation being carried out by certain authorities in the country. However, no further details have been released about the nature of the investigation or Bao's involvement.
Chinese media reports suggest that Bao might be assisting in an investigation related to a former executive at China Renaissance. This has added to the speculation surrounding his disappearance and the ongoing probe into another high-profile figure in Chinese politics, Liu Liange, who is under investigation for "serious violations of discipline and law."
As tensions surrounding Bao's disappearance continue to mount, investors are watching with bated breath as China Renaissance works to resolve its financial uncertainty.
. Can't believe a key player like Bao Fan just disappears in the middle of everything, leaves everyone scrambling... it's like something straight outta a movie 
. I mean, he was basically the kingpin at China Renaissance, handling all these major deals and mergers... now his firm is literally grounded because nobody knows what's going on with him. 
And that 50% drop in shares? Forget about it, that's like watching your favorite show get cancelled mid-season 
.
It's got everyone talking, but at the end of the day, we're still left with more questions than answers. And what about his former executive buddy? Are they gonna get their comeuppance? 
One thing for sure is that China Renaissance needs to sort this mess out ASAP so they can get back to business... and I hope Bao Fan turns up safe and sound soon 
.
... i'm not sure what's going on with the investigation either, but it seems like they're trying to cover something up 
... Liu Liange is already under investigation for some shady stuff 
... maybe Bao just got caught up in all that and now he's MIA? 
... fingers crossed china renaissance gets its act together soon 
this whole situation just has me shook 
it's not just about him disappearing, it's also about the company's shares taking a huge hit 
50% drop in one day? that's crazy! 
maybe they'll be able to get their audited results done and release them by the april 30 deadline? 
or who knows, maybe this is all part of some bigger plan 
I mean, a 50% drop in shares because the CEO vanished? That's like a real-life game of "Mafia"! 
The authorities are investigating him for some reason and now there's another high-profile figure under investigation... it's like a Chinese soap opera! 
And what's with all these mergers and acquisitions deals? Can't they just make their own money instead of relying on some shady business practices? 
It's all very suspicious... 
! And the fact that auditors can't even do their job because Bao is MIA? That's just crazy talk 
. China Renaissance needs to get its act together ASAP... or risk losing everything 
. I mean, what's going on behind those closed doors? China Renaissance has always been known for its savvy deals, but now they're stuck in limbo waiting for answers 
. Share prices have taken a huge hit and it's going to be interesting to see how this all plays out 
?
and now his company is tanking 
gotta keep an eye on this one 
Is it related to the other investigation or what?!?! I need answers ASAP 
. And what's up with this investigation into the former executive? Sounds like some serious shady stuff to me 
. Anyway, I'll be keeping an eye on this story – fingers crossed for some clarity soon! 
. so, was he running from the law or just trying to get out of doing some deal that went south? idk, but it's anyone's guess now... auditors can't do their thing, and now there's talk of another high-profile investigation? this is getting juicier by the minute... time to keep an eye on china renaissance's next move 
it's like trying to do math with one hand tied behind your back 
. And now they're saying he might be involved in an investigation with another high-profile figure Liu Liange? Like what's the dealio 
.