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China Renaissance, a prominent dealmaker in the tech industry, is facing challenges as its founder, Bao Fan, has been untraceable since mid-February. This has led to a suspension of trading of its shares and a delay in the release of its annual results. The company revealed that an investigation involving Bao is ongoing, preventing auditors from completing their work and leading to uncertainty around their annual report.
Bao, a respected dealmaker known for his work with top technology companies in China, has been instrumental in major deals like the merger of Meituan and Dianping. The situation at China Renaissance comes amidst a broader crackdown on financial misconduct in China, with top executives from state-owned banks and insurance companies being investigated.
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