Renaissance China suspends trading, delaying results after the fan founder of Bao disappears

Hong Kong
CNN
–

China Renaissance, Top Deliver in the technical industry in the country, said that it will suspend trading its actions and delay the release of its annual results because it cannot still be contacted with its founder.

Fan Bao, 52, started Butiksku investment bank in 2005. years and was unavailable from the middle February, according to the company. The shares in China Renaissance were submerged because Bao disappeared, at one point the fall as much as 50%.

The Renaissance China said at the end of February that he learned that Bao “cooperated in the investigation” to perform certain authorities in the country. Did not give other details.

Chinese media have export Bao could help in the investigation relating to the former executive director in China Renaissance.

On Sunday Sunday, China Renaissance, said the auditors could not finish their jobs or to unsubscribe to their report due to the absence of Bao. The Committee also failed to assess if this could approve the revised results for 2022. Year or despatch its annual report until 30. April, as requesting the rules of the Hong Kong’s listing rules.

Trading the company’s actions has been suspended from Monday.

Bao is known as a veteran trader which closely cooperates with superior companies of technology in China. It helped Broker 2015. Mergers between two leading food delivery services, Meituan and Dianping. Today is the “Super App” Company Super App “platform ubiquitous in China.

His team also invested in Chinese electric vehicle manufacturers in American vehicles NIO

(NIO) and li car and helped the Chinese Internet Giants Baida

(Beginning) and jd.com

(JD) Complete their secondary lists in Hong Kong.

During the weekend, the highest Chinese Wear Anti-Graf was launched by the investigation of Liu Liang, former Secretary for Fun and President China, according to China statement Central Commission for Discipline Inspection and Commission for State Supervision. The Bank is state-owned and one of the four largest lenders in the country.

Liu is suspected that “serious violations of discipline and law,” the statement said. Among the highest financial executives aimed at the broader financial cutting of President KSI Jinping.

In January, the Wang Canta, former chief of the party and the president of life insurance in China, was accused Prosecutors at the national level with bribery and hiding savings abroad.

– Michelle Toh contributed to reporting.