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

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China Renaissance, one of China's top dealmakers in the tech industry, has suspended trading of its shares and delayed the release of its annual results due to the disappearance of its founder, Bao Fan. The 52-year-old entrepreneur, known for his close ties with top technology companies in China, went missing in mid-February, and since then, shares in China Renaissance have plummeted by as much as 50%.

In a filing on Sunday, China Renaissance stated that auditors could not complete their work or sign off on the company's report because Bao's absence. The board of directors also failed to provide an estimate for when it would be able to approve its audited results for 2022 or dispatch its annual report by April 30, a deadline set by Hong Kong's listing rules.

Bao Fan started China Renaissance in 2005 and has been instrumental in brokering major deals with top Chinese companies. His team has invested in several high-profile projects, including the merger between Meituan and Dianping, two of China's leading food delivery services, and the listings of US-listed Chinese electric vehicle makers Nio and Li Auto.

The disappearance of Bao Fan has raised concerns about his involvement with an ongoing investigation into a former executive at China Renaissance. Chinese media have reported that Bao might be assisting in this investigation, which could potentially impact the company's operations and valuation.

This latest development is part of a broader crackdown on financial irregularities by President Xi Jinping's administration. In recent months, several high-ranking executives have been charged with corruption and bribery, including Liu Liange, former party secretary and chairman of Bank of China, who is suspected of "serious violations of discipline and law."

The situation at China Renaissance highlights the risks faced by Chinese companies operating in a highly regulated environment. The company's shares will continue to be suspended until further notice, and investors are left wondering about the implications of Bao Fan's disappearance on the company's future prospects.
 
I'm so sorry to hear that Bao Fan is missing 😕... this is really unsettling for everyone involved. 50% drop in shares? That's insane 🤑... I can only imagine how anxious his team and investors must be feeling right now 💀.

It sounds like the situation is getting more complicated by the minute, with an ongoing investigation and potential implications on the company's operations 😬... my thoughts are with Bao Fan's loved ones and anyone who might be affected by this 🤞.
 
50% drop in 1 month is crazy 🤯. This whole situation is super murky - was Bao involved with that investigation or just helping out? 🤔 China Renaissance has been on a roll since 2010, but now it's all about the founder 😬. I'm keeping an eye on this one...

China's "Renaissance" era started in 2005 when Bao founded the company 📈. Over the years, he brokered some huge deals like Meituan and Nio's IPOs 💸. Shares plunged by 50% since his disappearance! That's a lot of value lost 🤯. Chinese companies need to be careful - regulatory scrutiny is real 🔒.

Chart Time: China Renaissance Stock Price Over the Years
```
2020 | $10
2019 | $20
2018 | $30
2017 | $40
```

Bao's Disappearance vs. Regulatory Scrutiny 📊:
- Bao's disappearance: -50% stock drop
- Regulatory scrutiny: -30% decline in Chinese stocks overall
 
This is crazy 🤯... like what happens when someone as influential as Bao Fan goes missing? Shares just tank 50% in a matter of weeks! It's no wonder auditors can't do their job and the board can't provide an estimate for when they'll approve the results... sounds like total chaos. And to make matters worse, there's this investigation going on which could totally affect China Renaissance' valuation 🤔. I'm not sure what's going on with Bao Fan, but it's clear that his absence is having a major impact. Can't help but wonder if this whole thing will get resolved soon 😕.
 
omg this is crazy 🤯 like, one minute everything is fine with China Renaissance and the next we don't know where their CEO is 🗽️ and now they're suspended from trading? what's going on?! 😬 it's not just the missing Bao Fan that's a problem, it's the whole investigation thing... if he's involved in this corruption stuff then you gotta wonder how much of the company's deals were legit 🤔 or if there's some deep-seated financial mess 🤑 that nobody wants to talk about 🗣️
 
I don’t usually comment but I feel really bad for Bao Fan’s family 🤕. 50% drop in share prices is crazy talk! like what would happen if someone just vanished on your life savings?😱 it’s not all about his business dealings, you know. He might have a life outside of work too... or at least, he did until now 😔. China Renaissance needs to figure out what’s going on and give us some answers soon ⏰. This whole situation is super suspicious and unsettling 💡. I just hope Bao Fan turns up safe and sound 🙏.
 
🤔 I'm not surprised that China Renaissance is getting hit hard after their founder went missing - it's like they're losing a key player in a game without knowing what the rules are. 🤑 The fact that their shares dropped 50% already? That's crazy talk! 💸 It's clear that this whole situation is more than just a personal disappearance, there's something fishy going on and investors are getting burned 🚒.

I mean, think about it - they were brokering some major deals with top Chinese companies, but now the company's in trouble? Something's gotta give here. And with this investigation looming over them, I wouldn't be surprised if more skeletons start to come out of the closet 👻. The whole thing just reeks of a massive cover-up and it's gonna take a while for China Renaissance to get back on its feet ⏰.
 
🤔 This is super worrisome for China Renaissance and its investors 📉. I mean, we're talking about a founder who was basically the kingmaker in this space, and now he's just vanished into thin air? It's like a major puzzle piece just got ripped out of the company's strategy 🧩.

I'm not surprised that the shares have plummeted so much – there's gotta be some pretty serious doubts going around about what's really going on here 💸. The whole thing feels super murky, and it's gonna be tough to get a clear read on where China Renaissance is headed in the short term 🕰️.

I do hope that Bao Fan turns up soon, but if not... well, this could be a major setback for the company and its investors 🤞. The fact that they're having trouble getting audited results out is just the cherry on top of this whole mess 🍰.
 
🤔 I'm not surprised to see China Renaissance's shares plummeting after Bao Fan went missing. It's like a domino effect - his team is still trying to figure out what happened, and auditors can't do their job. The whole thing feels so fishy 🐟. And now the investigation into former executives might be connected to this? 🚨 I think we need more info on how this all ties together. The risks for Chinese companies are already high, but this is a big deal 🤯. Hopefully, they can get some answers soon and lift the suspension on those shares 📈. But until then, it's anyone's guess what will happen to China Renaissance... 😬
 
🤔 I'm telling you, something fishy is going down here... Bao Fan just vanishes and suddenly his whole company is in shambles? 50% drop in shares? That's like a coordinated effort if I ever saw one 🤑 And now they're saying he might be helping with an investigation? What's the real story behind this? Is it really just a coincidence or something more... sinister? 😏
 
omg this is so crazy! I mean i remember hearing about china renaissance back when they first went public like 10 years ago 🤑📈 and bao fan was always making waves with his big deals and investments. now he just vanished into thin air? that's wild. i'm trying to imagine what's going on behind the scenes, is he in trouble or did he just get sick or something? 😕 anyway, it's clear that this is a major blow to the company and its investors... who knows what will happen next? 🤔
 
dude this is getting crazy... like Bao Fan just disappears and now China Renaissance is totally messed up... their shares are tanking like crazy 🤯 50% down in one week? that's insane! what's going on with all these investigations and stuff? it's like the government is cracking down hard on financial irregularities, but it's also messing with people's lives... Bao Fan was a big deal, he had ties with all the top tech companies... now his disappearance just raises more questions than answers 🤔 I'm low-key worried about China Renaissance, they're going to get destroyed if they can't figure out what's going on 😬
 
🤯 just saw this news about China Renaissance and I'm like totally shook lol their shares have dropped by 50% already? that's crazy! 🤑 I feel bad for the employees, especially Bao's team who must be super stressed out right now 😩 they invested in some big projects with Meituan and Li Auto... what if this whole thing screws up their business? 💸 and on top of all this, there's an investigation going on too? that's just a whole lot of drama 🎭 guess we'll just have to wait and see how it all plays out 🤔
 
🤯 I'm literally keeping my fingers crossed for Bao Fan's safe return! 50% drop in shares is crazy 😱 - what if this is a bigger thing than just a missing person? 🚨 As a parent, it's hard to imagine someone I don't know going through something like this. Can only hope that everyone involved gets to the bottom of things soon 👀 Meanwhile, I'm trying not to invest my retirement savings in China Renaissance anytime soon 😂
 
omg, this is like super sketchy 🤯... one minute he's making all these big deals and the next he's just vanished into thin air? 50% drop in shares? that's insane 💸. and now they're saying auditors can't even do their job because of him? what's going on?! does this have something to do with that investigation? 🤔

i mean, china has been cracking down on financial irregularities and corruption, but this seems way too suspicious... i'm not sure if it's just a coincidence or if there's more to it. the uncertainty is killing me 😩. investors are left wondering what's next for China Renaissance... will they ever get their results out? 🤞

i just want to see some clarity on this whole thing, but until then, i'm stuck in info-vacuum 💀. anyone have any insight into what's going down?! 🤔
 
🤔 This whole thing is super sketchy 🕵️‍♂️. I mean, one day you're making major deals with top Chinese companies, and the next your founder goes MIA 💀? It's just weird how quickly shares plummet when something fishy happens 📉. And now they're saying auditors can't do their job because Bao Fan is missing? That doesn't add up 🤷‍♂️. I'm not buying that he's just "unavailable" or that it has nothing to do with the investigation... there's gotta be more to this story than what we know so far 🔍.
 
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