NullNarwhal
Well-known member
China Renaissance Suspends Trading, Delays Results Amid Founder's Disappearance
China Renaissance, one of the country's top tech industry dealmakers, has suspended trading in its shares and delayed the release of its annual results due to the founder's disappearance. Bao Fan, 52, started the boutique investment bank in 2005 but has been unreachable since mid-February, according to the company.
Shares in China Renaissance have plummeted by as much as 50% since Bao went missing, and the company's auditors were unable to complete their work or sign off on their report due to his absence. The board of directors was also unable to give an estimate for when it would be able to approve its audited results.
Bao is known as a veteran dealmaker who has worked closely with top technology companies in China, including Meituan and Dianping. He helped broker the 2015 merger between the two food delivery services, which resulted in the creation of a ubiquitous "super app" platform in China.
The disappearance of Bao and the suspension of trading have raised concerns about the impact on investors and the company's ability to complete its annual report by an April 30 deadline as required by Hong Kong's listing rules. The Central Commission for Discipline Inspection and the State Supervision Commission have launched an investigation into a former Bank of China executive, Liu Liange, who is suspected of "serious violations of discipline and law".
China Renaissance has been a key player in China's tech industry, investing in US-listed companies such as Nio and Li Auto, and helping Chinese internet giants complete their secondary listings in Hong Kong.
The suspension of trading and delay in the release of annual results have sent shockwaves through the market, leaving investors and analysts scrambling to understand the implications of Bao's disappearance.
China Renaissance, one of the country's top tech industry dealmakers, has suspended trading in its shares and delayed the release of its annual results due to the founder's disappearance. Bao Fan, 52, started the boutique investment bank in 2005 but has been unreachable since mid-February, according to the company.
Shares in China Renaissance have plummeted by as much as 50% since Bao went missing, and the company's auditors were unable to complete their work or sign off on their report due to his absence. The board of directors was also unable to give an estimate for when it would be able to approve its audited results.
Bao is known as a veteran dealmaker who has worked closely with top technology companies in China, including Meituan and Dianping. He helped broker the 2015 merger between the two food delivery services, which resulted in the creation of a ubiquitous "super app" platform in China.
The disappearance of Bao and the suspension of trading have raised concerns about the impact on investors and the company's ability to complete its annual report by an April 30 deadline as required by Hong Kong's listing rules. The Central Commission for Discipline Inspection and the State Supervision Commission have launched an investigation into a former Bank of China executive, Liu Liange, who is suspected of "serious violations of discipline and law".
China Renaissance has been a key player in China's tech industry, investing in US-listed companies such as Nio and Li Auto, and helping Chinese internet giants complete their secondary listings in Hong Kong.
The suspension of trading and delay in the release of annual results have sent shockwaves through the market, leaving investors and analysts scrambling to understand the implications of Bao's disappearance.
China Renaissance suspending trading is like a huge deal, like literally 50% drop in shares since bao fan went missing! 
how is this even possible?!?? he was like a major player in china's tech scene and now his company is like totally stuck 
. i'm so confused what's going on here!!! did he just take off without warning or what?!?! 
and now the auditors can't even do their job cuz bao ain't answering their calls 
. this whole thing is giving me major anxiety 
Helped Meituan and Dianping merge into this super app thing... he was basically a king in the tech industry! 
I don't know if it's connected or not, but it's definitely raising some eyebrows. The whole thing feels like a big mess, and I'm sure we'll be hearing more about it soon! 
I'm so worried about Bao Fan, hope he's safe 
his company has been such a big player in the tech industry and now this happened... it's like a thriller movie 
OMG, this is getting crazy! China Renaissance suspends trades & delays results after founder disappears 
. His "super app" platform still exists, right? 
this is crazy what's going on with China Renaissance I mean i got shares in them too 
And the fact that they're investigating Liu Liange, who's already suspected of some major screw-ups, just makes me wanna scream! 
It raises questions about risk management and preparedness. We all need to take a step back, assess our own risk tolerance, and be more proactive about mitigating potential losses.
hope everything gets sorted out ASAP, but this is super worrying for investors 
and now they're scrambling to figure out when they'll get the results done by april 30 lol good luck with that 
this is getting so crazy! one of china's top tech dealmakers just goes missing and the whole company shuts down? 50% drop in value is insane... what's going on with these investigations too? 
But on the other hand, shouldn't they be more concerned about finding him instead of worrying about their quarterly reports? 
I'm all for corporate responsibility and transparency, but this is just getting weird 
i'm not surprised though, bao fan was like a godfather to chinese tech companies 
what's going on with these investigations tho? are we talking about some major scandal here? 
The whole thing just feels so unprofessional, you know? Like, a founder goes missing and the company can't even finish their reports?! What's going on behind the scenes?! 
bao was supposed to be this big deal maker but now he's just MIA 
i'm worried about the impact on investors and the company itself 
i feel bad for the investors too, they must be stressing out about their shares plummeting 50% since mid-february 
One minute he's a big shot dealmaker, the next he just disappears and his company is in chaos. It's not good for investors who put their money into this place. 50% drop in shares is crazy talk!