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

China Renaissance, a prominent dealmaker in China's tech industry, has suspended trading of its shares and delayed the release of its annual results due to its founder Bao Fan's unavailability. Bao, 52, went missing in mid-February, leaving investors and auditors alike in limbo.

The company stated that it had been unable to get in touch with Bao since his disappearance, which has led to a significant plunge in the company's shares, with prices dropping by as much as 50%. China Renaissance is known for its close ties with top technology companies in China, having played a key role in brokering several high-profile deals.

Bao's absence has also raised suspicions of an investigation involving his alleged involvement in a case related to a former executive at the company. Chinese media have reported that Bao might be assisting in this investigation, although no further details have been provided by China Renaissance.

The delay in releasing audited results for 2022 and dispatching its annual report has caused trading on Monday as shares were suspended due to the uncertainty surrounding Bao's disappearance. His absence is particularly notable given his prominent role as a veteran dealmaker who works closely with top tech companies, including helping broker the merger between Meituan and Dianping in 2015.

The news comes at a time when China's anti-corruption efforts are intensifying under President Xi Jinping, with several high-ranking officials facing charges. The investigation into Bank of China chairman Liu Liange is one such example, highlighting the government's focus on rooting out corruption among state-owned enterprises.

I'm totally freaked out about this news. Like, what even happened to Bao Fan? One minute he's around, making deals for top tech companies, and the next, he just disappears . It's crazy how this has affected China Renaissance's shares - 50% drop is massive! I can only imagine how uncertain investors must be feeling right now . And to make things worse, there are these rumors about an investigation involving Bao... it's like something out of a thriller movie . I do hope everything gets sorted out soon and we get some answers about what happened to Bao. This whole thing has me feeling really uneasy .

omg 50% drop in shares?! what's going on with this guy Bao Fan?? i mean china renaissance is a big deal, but his disappearance just throws everything into chaos... and now there's rumors of an investigation?? sounds like some shady stuff to me... anyone know anything about this Liu Liange guy? seems like the gov't is cracking down hard on corruption in state-owned enterprises... maybe Bao Fan's case is connected to that?

This whole thing feels super suspicious to me... like what really happened to Bao Fan? And why did he just go missing? It's not like him to just vanish into thin air. He's a big deal in the tech industry and all. I'm not saying he's guilty or anything, but this investigation is coming at a time when corruption charges are being thrown around left and right. China Renaissance is getting caught up in it too? That doesn't look good for anyone involved.

This whole thing with Bao Fan and China Renaissance is super weird... I mean, a 50% drop in shares just because he can't be reached? And now there are rumors of an investigation involving him... that's some serious drama. I'm sure the fact that he was close to top tech companies like Meituan doesn't help the situation . It's also interesting that this is happening at a time when China's anti-corruption efforts are in full swing . Maybe we'll get some answers soon, but for now, I'm just gonna keep an eye on this one .

Bao Fan's disappearance is getting serious, shares plummeting 50% Suspicions are high, could be more than just a simple case of bad timing... Meanwhile, China's anti-corruption efforts are heating up, Liu Liange under the scanner again Time to get answers from Bao Fan and his team!

Omg, this is getting pretty intense ... I mean, you'd think that a company would have some backup plan in place when its founder goes missing . It's like they're playing with fire here and risking the entire stock price . And now they're just delaying everything, including the release of their annual results . Can't help but wonder if this is connected to that investigation... would love some clarity on that . Anyone else thinking this could be a major scandal waiting to unfold?

omg what's going on w/ china renaissance their shares just plummeted 50% and they're delaying results because the founder baa fan went missing in feb! it's super sus, especially since he was supposed to be helping investigate a case involving a former exec this whole thing is making me nervous, especially w/ china's anti-corruption efforts gaining steam and now they're suspending trades ugh, this just got real

Umm... just great, another guy disappears and everyone freaks out . I mean, what's new right? Anyway, Bao Fan's 'unavailability' has caused like, what 50% drop in shares? That's just a normal Tuesday for China Renaissance . And now we have to wait even longer for their annual results because, you know, they can't get in touch with the founder . I'm sure it has nothing to do with the alleged investigation and his alleged involvement in some shady deal... . It's not like he was a key player in brokering major tech deals or anything . And of course, this all happens during China's anti-corruption efforts - just what we needed, more uncertainty and drama .

This is getting really weird. First, China Renaissance shares tank 50% and now no results to show for? Something fishy going on here I mean, Bao Fan goes missing and suddenly his old buddies at the top tech companies in China are like "oh no, what's happening?" It's like he vanished into thin air. And what about this investigation related to a former executive? Is it connected to the anti-corruption efforts? I'm all for rooting out corruption, but slow down everyone! Don't let speculation get out of hand. We need answers

omg what's going on with china renaissance?? 50% drop in shares is crazy! i remember bao fan being all influential and stuff, now his unavailability is raising so many red flags like he's somehow tied to that investigation... this could get super interesting meanwhile china's anti-corruption efforts are getting more intense under xi jinping, it's all about rooting out corruption among state-owned enterprises

so this china renaissance thingy... they got a major player who went MIA and now their stock is tanking like 50% drop or something its pretty wild how one person can have that kind of influence in the tech scene, especially since bao fan is basically a legend among dealmakers

anyway, the fact that china renaissance is being super tight lipped about bao's disappearance is already giving me some major red flags i mean, usually when someone goes missing under suspicious circumstances, there are some kinda explanations or denials... but not here

and then you got this whole investigation angle which could potentially be a big deal especially since china renaissance has ties with top tech companies and whatnot so yeah, it seems like this whole thing is getting pretty serious pretty fast