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China Renaissance says Bao Huang is cooperating with government investigation

China Renaissance said earlier this month it was unable to contact its founder and CEO, Bao Fan. This photo is from 2016.

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BEIJING — Missing Chinese investment banker Bao Huang cooperates with government investigation, his firm chinese renaissance said in a filing on Sunday.

The company’s Hong Kong-listed shares have plunged 29% since the company’s announcement on Feb. 16. can’t reach baoHe has held roles such as controlling shareholder, CEO and founder of China Renaissance.

“The Board has become aware that Mr. Bao is currently cooperating with an investigation being conducted by certain authorities in the People’s Republic of China,” China Renaissance said in a statement filed on Sunday with the Hong Kong Stock Exchange. Stated.

China Renaissance said in both filings this month that its business continues to operate normally.

The company’s share price hit a record low of HK$5 (64 cents) on 17 February, but has since recovered slightly.

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China Renaissance shares 12 months of performance.

Earlier this month, Chinese financial news outlet Caixin noted that Bao’s disappearance follows an investigation into another Chinese Renaissance executive, Cong Lin.

Cong was also the chairman of the company’s subsidiary, Huajing Securities.

The Shanghai branch of the China Securities Regulatory Commission said in September that Huajing violated securities law requirements on corporate governance. Asked Kong to follow the investigation.

China Renaissance’s filing about Bao made no mention of the investigation, and contacting officials did not share additional information.

Why do Chinese billionaires go unnoticed?

https://www.cnbc.com/2023/02/27/china-renaissance-says-bao-fan-is-cooperating-with-a-government-probe.html China Renaissance says Bao Huang is cooperating with government investigation

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