Founder's disappearance leads to trading suspension and delayed results for China Renaissance.
China Renaissance, a top dealmaker in China's 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, who has been unreachable since mid-February and is reportedly cooperating in an investigation. Auditors couldn't complete their work or sign off on their report because of Bao's absence, and the board was unable to give an estimate about when it would be able to approve its audited results for 2022 or dispatch its annual report by an April 30 deadline as required by Hong Kong's listing rules. Trading in the company's shares was suspended from Monday as a result.