China Renaissance Holdings Ltd shares slid 72% after resuming trading in Hong Kong on Monday, about 17 months after its stock was suspended following the detention of its former chairman Bao Fan. 

The company fulfilled requirements under the trading resumption guidance, releasing its first-half and overdue earnings results for last year and 2022. The company replaced Bao in February, a year after he vanished from the public eye due to an investigation by Chinese authorities. 

Bao was placed under detention under an unspecified investigation amid a broader graft crackdown on the financial sector. His absence has dented China Renaissance’s business growth, curtailing revenue and prompting a slew of staff departures.

  - Bloomberg