China Renaissance shares plunge after 17-month suspension, former chairman’s detention

China Renaissance shares plunge after 17-month suspension, former chairman’s detention


Shares of boutique investment bank China Renaissance fell as much as 72% to a record low on Monday when they resumed trading 17 months after being suspended during a probe involving its then-chairman and CEO Bao Fan.

Greg Baker | AFP | Getty Images

Shares of boutique investment bank China Renaissance fell as much as 72% to a record low on Monday when they resumed trading 17 months after being suspended during a probe involving its then-chairman and CEO Bao Fan.

Trading was suspended on April 3, 2023, due to a delay in publishing its 2022 results after mainland Chinese authorities requested Bao’s cooperation in an investigation.

The star dealmaker, who founded China Renaissance in 2005, has not been seen publicly since before the suspension. A Chinese financial publication reported in May last year he was detained by disciplinary and supervision officials. Authorities have so far not provided any explanation for his absence.

Bao is one of several high-profile executives in China’s finance industry who have gone missing in recent years with little explanation amid a sweeping anti-corruption campaign led by President Xi Jinping.

China Renaissance, which appointed Xie Yi Jing to replace Bao as chairman and CEO this year, published its long overdue earnings results last week, allowing it to resume trading.

The investment bank posted last week an attributable loss of 471.9 million yuan ($66.55 million) for 2023, and a loss of 73.8 million yuan for the six months ended June 30.



Source

Google hires Windsurf CEO Varun Mohan, others in latest AI talent deal
World

Google hires Windsurf CEO Varun Mohan, others in latest AI talent deal

Chief executive officer of Google Sundar Pichai. Marek Antoni Iwanczuk | Sopa Images | Lightrocket | Getty Images Google on Friday made the latest a splash in the AI talent wars, announcing an agreement to bring in Varun Mohan, co-founder and CEO of artificial intelligence coding startup Windsurf. As part of the deal, Google will […]

Read More
India finds engine switch movement in fatal Air India crash, no immediate action for Boeing or GE
World

India finds engine switch movement in fatal Air India crash, no immediate action for Boeing or GE

Investigative officials stand at the site of Air India Boeing 787 which crashed yesterday, on June 13, 2025 in Ahmedabad, India. Ritesh Shukla | Getty Images A preliminary report by Indian aviation accident investigators said on Saturday the fatal Air India crash that killed 260 people in Ahmedabad last month showed the plane engines’ fuel […]

Read More
This coming earnings season could decide if a stock market at record highs has more room to run
World

This coming earnings season could decide if a stock market at record highs has more room to run

The upcoming earnings season will show investors whether the bull case for equities still holds. The second quarter reporting season comes at a pivotal point for the stock market, with the S & P 500 and Nasdaq Composite trading at all-time highs this week even after an onslaught of bad news regarding higher tariffs, a […]

Read More