Founder’s Disappearance Causes China Renaissance to Halt Trading and Postpone Results

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China Renaissance, a top dealmaker in the country’s tech industry, recently made headlines when it announced the suspension of trading of its shares due to the unavailability of its founder, Bao Fan. Bao, a veteran dealmaker known for his work with top technology companies in China, has been unreachable since February. This situation has caused shares in China Renaissance to drop significantly, prompting the delay in the release of the company’s annual results.

Reports suggest that Bao might be assisting in an investigation related to a former executive at China Renaissance. This development has led to auditors being unable to complete their work and sign off on their report, causing a delay in meeting the April 30 deadline for submitting the annual report as required by Hong Kong’s listing rules. Consequently, trading in the company’s shares has been suspended.

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In light of recent events in the tech industry in China, it is crucial to partner with a reliable and trustworthy technology development company like ours to guarantee the success of your projects. Contact us today for all your software development and technology needs.

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