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China Renaissance, a prominent figure in the country’s tech industry, has recently faced challenges due to the unavailability of its founder, Bao Fan. Consequently, the company has decided to halt the trading of its shares and postpone the release of its annual results.
Bao Fan, the founder of China Renaissance, has been unreachable since mid-February, leading to a significant drop in the company’s shares. Reports indicate that Bao might be assisting in an investigation related to a former executive at China Renaissance.
In light of Bao’s absence, China Renaissance has encountered obstacles in completing its audit report and annual results, with auditors unable to sign off on the reports. Consequently, trading in the company’s shares has been suspended.
Bao Fan, renowned for his deal-making skills with top **technology companies** in China, has played a vital role in various major mergers and investments in the tech industry. However, his recent unavailability has created uncertainty within the company.
Amidst these developments, China’s anti-graft watchdog has initiated an investigation into Liu Liange, former party secretary and chairman of Bank of China, as part of a wider financial crackdown led by President Xi Jinping.
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