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China Renaissance, a prominent player in China’s tech industry, recently announced the suspension of trading of its shares and the postponement of its annual results release due to the founder being unreachable. Bao Fan, the founder of the boutique investment bank, has been out of reach since mid-February, causing shares in China Renaissance to plummet by as much as 50%.
Reports suggest that Bao might be cooperating in an investigation related to a former executive at China Renaissance. This situation has also hindered the completion of auditors’ work, preventing the approval of the audited results and the dispatch of the annual report by the deadline.
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Bao, known for his work with top technology companies in China, has been a key figure in brokering significant deals in the tech industry. Although facing challenges at China Renaissance, his past involvement in mergers and investments with notable companies has left a mark in the industry.
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