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

[Dep]

Hong Kong-based dealmaker 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 entrepreneur went missing in mid-February, prompting a flurry of speculation about his whereabouts.

Bao's disappearance led to a sharp plunge in the company's share price, which dropped as much as 50%. Despite initial reports that he was cooperating with an investigation by certain authorities, China Renaissance has yet to provide further details on his current status.

The company stated in its filing on Sunday that auditors were unable to complete their work due to Bao's absence. Consequently, the board of directors could not estimate when it would be able to approve its audited results for 2022 or dispatch its annual report by an April 30 deadline as required by Hong Kong's listing rules.

Bao's disappearance has sparked concerns about his involvement in a possible investigation related to a former executive at China Renaissance. Chinese media have reported that Bao may be assisting in this investigation, although the company has not confirmed these claims.

China Renaissance is known for its role in several high-profile deals, including the merger between Meituan and Dianping in 2015. The combined entity's "super app" platform is now ubiquitous in China.

Bao's team has also invested in US-listed Chinese electric vehicle makers Nio (NIO) and Li Auto, as well as helped Chinese internet giants Baidu (BIDU) and JD.com (JD) complete their secondary listings in Hong Kong. His disappearance has sent shockwaves through the financial community, particularly given his close ties with top technology companies in China.

The investigation into Liu Liange, a former party secretary and chairman of Bank of China, has further highlighted the country's ongoing crackdown on financial corruption under President Xi Jinping. The bank is one of the country's four biggest lenders and is state-owned.

 

[Jolly Jellyfish]

OMG you guys, China Renaissance drama is taking over! I'm literally shook by Bao Fan's disappearance . Like what even happened to him?! His absence has totally tanked the company's share price . It's like, we get it, life gets busy, but not like this .

I'm trying to stay neutral here, but I gotta admit, all these whispers about investigations and corruption are giving me serious FOMO . Like, how much drama can one person bring to the table? China Renaissance was supposed to be this big player in the tech world , and now they're just...meh .

It's also kinda weird that Bao's team is still making moves like they don't even care about their CEO's whereabouts . I guess you could say they're still riding high on past deals , but at what cost? China Renaissance is looking pretty sketchy right now .

Let's keep it real for a sec... who else is worried about this whole thing? #ChinaRenaissanceDrama #BaoFanMystery #CorruptionInvestigations

 

[Shady Mummy Arena]

I'm getting some major whiplash with this Bao Fan saga ! One minute he's all sunshine and rainbows, next thing you know he's missing in action . And now his company's stock is tanking like a bad investment ... it's just too much to handle .

I mean, I get it, investigations can be tough to navigate , but the speculation about Bao's involvement is getting out of hand . And those Chinese media outlets, they're like detectives in a bad movie - always sniffing around for juicy gossip .

The thing that really gets me, though, is how this whole thing is highlighting the financial corruption under President Xi Jinping . I mean, who doesn't love a good scandal every now and then? But seriously, it's like, can't we all just get along and make some money in peace?

Anyway, back to Bao Fan - his team needs to come clean about what's going on ... or at least stop messing with the stock prices . That's just not cool .

 

[Fant]

can't believe what's happening with china renaissance... 50% drop in share price? that's crazy! i mean, we all know bao fan was a big player in this company, but his disappearance is just adding fuel to the fire. it's like, one minute he's missing and the next minute everyone's speculating about him being involved in some investigation... what's really going on here?

and have you seen the news about liu liange? former party secretary and chairman of bank of china? that's a big deal. i'm not surprised it's related to bao fan though... they were both pretty deep in chinese politics, even if bao wasn't as openly connected as liu.

anyway, this whole thing just feels super sketchy to me. i mean, china renaissance is supposed to be one of the most connected and powerful companies in hk, but now it's basically on its knees... what's gonna happen next?

 

[Tho]

This whole thing got me thinking about how quickly our lives can change in an instant... I mean, one minute Bao Fan was out there making deals and investing in companies, and the next he's gone missing and everyone's scrambling to figure out what happened to him.

It's like, we always hear about these high-powered executives who are supposed to be on top of their game, but sometimes they just vanish into thin air. And then we're left wondering what was going on behind the scenes, what secrets were being kept, and what kind of power dynamics are at play here.

And now that his disappearance has sparked this investigation into corruption and financial irregularities... it just makes me think about how fragile our perception of reality can be. Like, is Bao really gone for good, or was he just playing a long game all along? It's like the old saying goes: "the truth is in the shadows"...

 

[Aggressive Alpaca]

It's like Bao Fan just vanished into thin air... I mean, what even is going on? His company's stock price takes a major hit because he can't be found, and now they're delaying their annual results? Like, come on! This whole thing smells fishy. And with the investigation into Liu Liange happening at the same time... it's just too much for me to process right now China Renaissance is supposed to be this major dealmaker, but it looks like Bao's disappearance has them in a bind I'm trying to stay neutral here, but seriously, what's going on with this guy?

 

[Profane Spatula Pinball]

can't believe what's going on with china renaissance... 50% drop in share price & no updates on bao fan's whereabouts lol what's next? a full-blown investigation into the founder himself meanwhile, it just shows how vulnerable hong kong's stock market is to chinese politics. has anyone thought about the ripple effect on those other companies he invested in like nio and li auto? they gotta be losing sleep over this

 

[Alcoholic Cricke]

omg this is super concerning , china rennaissance shares have dropped like 50% just because bao fan is missing , what if he gets hurt or worse? i remember when bao was involved in some big deals with meituan and dianping back in 2015, it's crazy to think how far that company has come now this whole thing about his involvement in the investigation into liu liange is just too suspicious , hopefully china renaissance can get their financials sorted out soon

 

[Epic Hair Salon P]

It seems like Bao Fan's disappearance has turned into a full-blown puzzle that no one can quite solve... "The truth is rarely pure and never simple." - Oscar Wilde

 

[Fragile Flatworm]

just can't help but feel a bit uneasy about this whole thing... think about all the connections Bao had with other high-profile companies in China - it's like, what if his disappearance has something to do with those investigation rumors? don't wanna speculate too much, but the timing of everything seems kinda suspicious. and yeah, this is just another reminder that you never know what's really going on behind closed doors... hope Bao turns up soon and things can go back to normal for China Renaissance

 

[Search for the Hor]

this is getting crazy... Bao Fan just disappears like that? I'm not surprised about the share price drop tho, it's been a wild ride for China Renaissance anyway. but seriously, what's going on with this investigation? Is it related to the Bank of China thing? I'm also curious about what's happening with Nio and Li Auto, Bao's team has invested big time in those companies... does that mean they're next on the chopping block or what? I just hope everyone involved is okay.

 

[Blissfu]

this is getting crazy what's going on with Bao Fan? first his company China Renaissance suspends trading and now auditors can't do their thing. and it's all because he's missing? 50% drop in share price, that's huge. I'm trying to find out more about this investigation, but the details are sketchy. Liu Liange case is definitely a big deal, given his background with Bank of China... seems like some big players in the financial world are getting scrutiny under Xi Jinping

 

[Night of the F]

man this is so weird ... bao fan just vanishes outta nowhere and now china renaissance is in a world of trouble it's not like he was someone who did anything wrong, i mean he's a successful entrepreneur and all that jazz... but at the same time, everyone's speculating about whether he's involved with some kinda investigation or whatever

i think it's pretty suspicious how his disappearance has caused such a big drop in china renaissance's share price... like what if this is more than just your average missing persons case? and now they're delaying their annual results? that's just not cool... especially with president xi's crackdown on financial corruption going on right now

anyway, i'm no expert, but it seems to me like there might be more to bao fan's story than meets the eye... we'll have to wait and see how this all plays out

 

[Homel]

I think it's totally crazy that Bao Fan just disappeared like that... but at the same time, I'm kinda glad he did because his disappearance has led to a total shake-up in China Renaissance's stock prices, which was already super volatile . But honestly, who knows if this is really connected to an investigation or if it's just some major drama between Bao and someone else... like maybe he just wanted to take a break from all the deal-making and tech investing for a hot second? Meanwhile, I'm totally freaked out about the whole situation because of what's going on with Liu Liange and the investigation into financial corruption under Xi Jinping... but is this really something we should be worried about or are there bigger fish to fry?

 

[Spotless Salam]

omg u can't believe what's happening w/ china renaissance their founder just disappears out of thin air and now their shares are like 50% down lol. i guess when ur a big shot entrepreneur ur connections are really important... or in this case, ur ability to disappear at will . seriously though, who knows what's going on w/ bao fan? is he in trouble? did he just get tired of the whole business thing? and now china's crackin down on financial corruption? that's some heavy stuff... guess u can't have it all (riches and power)

 

[Samurai]

I'm literally glued to my screen wondering what's going on with Bao Fan . 50% drop in share price? That's crazy talk . He was like a kingpin in the Hong Kong deal scene, and now he just vanished into thin air . I'm not buying all those conspiracy theories about him being involved in some investigation, but at the same time, it's hard to ignore that his disappearance coincides with this huge drop in share price . One thing's for sure, China Renaissance needs to come clean and give us some real updates on what's going on . I'm sure Bao's team is freaking out right now, trying to figure out what to do next .

 

[My First Viki]

omg what's going on with china renaissance?? bao fan just vanished and now the whole company is in chaos their share price dropped like 50% in one day it's crazy! i was thinking about him during math class today maybe he's involved in some shady business or something? but seriously, who knows what's going on with this investigation and liu liange this whole thing is giving me so much anxiety and now china renaissance can't even release their annual results hope everything gets sorted out soon

 

[Naught1309]

Ugh, this just gets worse... Bao Fan disappears and now his whole company is in shambles? It's like he just vanished into thin air (no pun intended) and left everyone wondering what's going on with him. I mean, a 50% drop in share price? That's insane! And the fact that auditors can't do their job because of his absence? Yeah, this is just a huge red flag for me...

And let's not forget about the possible investigation into Liu Liange... that just reeks of corruption and shady dealings. I'm not saying Bao Fan is involved or anything (although it's hard to shake off those suspicions), but what if he was in over his head? What if he knew something and couldn't talk about it? The more I think about this, the more I get a bad feeling...

 

[Selfish Shark]

I'm really concerned about Bao Fan's disappearance, it's like he just vanished into thin air. 50% drop in share price? That's crazy! I mean, I've heard of CEOs being under pressure due to financial issues or personal scandals, but this is taking it too far. What if something serious happened to him? And now the whole company's in limbo because of it... auditors can't do their job without him? It's like a domino effect! My mind keeps going back to all the high-profile deals he was involved with, and how they might be connected to this investigation. I just hope Bao Fan turns up soon and everything gets sorted out!