China Renaissance applies to resume trading from Monday

China Renaissance Holdings

06/09/2024 15:23

Sept 6 (Reuters) - China Renaissance  1911.HK  said on
Friday it applied to the Hong Kong Stock Exchange to resume
trading in its shares from Monday, since it had fulfilled all
requirements prescribed by the bourse, including publishing all
pending financial results.  
    Trading in the boutique investment bank's shares has been
suspended since April 3, 2023, due to a delay in publishing its
fiscal 2022 results after mainland authorities' request for
cooperation from its then-chairman and CEO Bao Fan in an
investigation.
    Bao's absence rendered the bank unable to sign off on
earnings reports until he became available for contact.
    Star dealmaker Bao, who founded China Renaissance in 2005,
is one of several high-profile executives in the country's
finance industry who have gone missing in recent years with
little explanation amid a sweeping anti-corruption campaign led
by President Xi Jinping.
    Bao resigned as the chairman and CEO of the company earlier
this year, and Xie Yi Jing was appointed to both the positions.
    China Renaissance said in an exchange filing on Friday that
it had kept its investors updated on all material developments
of the firm, including announcements on the progress in meeting
the trading resumption criteria.
    It posted 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.


($1 = 7.0907 Chinese yuan renminbi)

 (Reporting by Shivangi Lahiri in Bengaluru; editing by Alan
Barona)
 ((Shivangi.Lahiri@thomsonreuters.com))