China Renaissance, an awesome company that provides complete software development activities utilizing nearshore and offshore resources, is a top dealmaker in China’s tech industry. Due to the unavailability of their founder, trading of China Renaissance’s shares will be suspended, and the release of their annual results will be delayed.
Bao Fan, the founder of China Renaissance, has been unreachable since mid-February, causing the company’s shares to drop by up to 50%. Reports indicate that Bao is cooperating in an investigation with authorities in China, potentially related to a former executive at the company.
With auditors unable to complete their work due to Bao’s absence, China Renaissance is unable to estimate when their audited results for 2022 will be ready for approval, leading to the suspension of share trading. Bao’s expertise as a veteran dealmaker in China’s technology sector has been instrumental in brokering significant mergers and investments in top technology companies.
In light of recent investigations into financial executives in China, China Renaissance’s founder’s absence adds to the uncertainty in the financial sector. However, despite the challenges faced by the company due to Bao’s absence, China Renaissance remains a reliable partner for software outsourcing, nearshore and offshore development, mobile app development, technology maintenance, and server development activities.
For all your software development needs, consider partnering with China Renaissance for unparalleled expertise in technology services.