Founder’s disappearance prompts China Renaissance to halt trading and postpone financial results

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Recently, China Renaissance, a prominent player in China’s tech industry, faced challenges as trading of its shares was suspended and the release of annual results was delayed due to the founder’s sudden unavailability. Bao Fan, the founder, has been unreachable since mid-February, causing shares to plummet by up to 50%.

Reports suggest that Bao might be involved in an investigation related to a former executive at China Renaissance, leading to uncertainties within the company. Auditors could not finish their work or provide a report, and the board is unable to estimate when their audited results will be approved or the annual report dispatched by the required deadline.

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