China Renaissance suspends trading, delays results after founder Bao Fan goes missing
China Renaissance halts trading and delays 2022 results after CEO Bao Fan disappears amid investigation
Hong Kong-listed China Renaissance Holdings (1911.HK) suspended trading and delayed its 2022 annual results after founder and CEO Bao Fan went missing in mid-February 2023. The company revealed Bao was unreachable and cooperating with authorities in an unspecified investigation, causing shares to plummet up to 50% from February lows. The absence prevented auditors from completing work and the board from meeting the April 30, 2023 deadline for filing audited results. Bao Fan, 52, established the boutique investment bank in 2005 and brokered major deals including the 2015 Meituan-Dianping merger. Chinese media linked his disappearance to an investigation involving a former China Renaissance executive. The suspension took effect April 3, 2023, as the company awaited Bao's return to resolve the reporting delay.
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