Dealmaker Bao Huang, who heads Hong Kong-listed China Renaissance Holdings Ltd., said he is currently cooperating with an investigation being conducted by Chinese authorities, the company said in a stock exchange filing made public late Sunday night. said in the documents.
Bao’s status update comes about two weeks after CR Holdings said it was unable to contact its chairman and CEO, as did Meituan, the food delivery startup that operates restaurant review site Dianping. However, the company has not disclosed details of the investigation.
“The company is trying to locate Mr. Bao and ascertain his condition,” it said in a filing on Sunday, reiterating that operations are continuing as normal, but should such a request be made. , added that the company itself will cooperate with the authorities.
A CR Holdings representative did not immediately respond to an email request for additional comment. The stock has fallen almost 30% since it was first reported on February 16th. It also sent chills to the country’s internet sector, which was nascent from a year-long crackdown that stunted the growth of many tech giants, causing investors to reassess the future prospects of companies such as Alibaba and Tencent. rice field.
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