Hong Kong's China Renaissance halts trade, delays 2022 results

China Renaissance Holdings

03/04/2023 05:03

HONG KONG, April 3 (Reuters) - Boutique investment bank
China Renaissance Holdings  1911.HK  said its would delay its
audited annual results and suspend its stock trading from
Monday, after mainland authorities took away its chairman, Bao
Fan, to co-operate with an investigation.
    In a filing to the Hong Kong stock exchange, the bank said
auditors told it they were unable to complete their audit and
sign off on the earnings report until Bao, as controlling
shareholder, becomes generally available for contact.
    The bank had an unaudited loss of 563.8 million yuan ($81.8
million) for 2022, Sunday's filing showed.  
    Late in February, the bank said in an exchange filing that
Bao Fan, its star dealmaker, was co-operating with authorities
in their investigation.
($1=6.8915 Chinese yuan renminbi)

 (Reporting by Xie Yu; Editing by Clarence Fernandez)
 ((Yu.Xie@thomsonreuters.com;))