China’s “M&A King” Bao Fan has been missing for over 50 days, sending shockwaves throughout the country’s financial and political circles.
On April 3, China Renaissance Group, the company Bao founded, announced a trading halt, suspending trading from 9:00 am that day. The release of its annual performance report for 2022 has also been deferred as the auditors cannot issue an audit report in Bao’s absence.
Bao is the company’s chairman, executive director, chief executive officer, and controlling shareholder.
On Feb. 16, the company’s board of directors announced that they had been unable to contact Bao, and on Feb. 26, they revealed that he was “cooperating” with authorities’ investigations….