BEIJING — Lacking Chinese language funding banker Bao Fan is cooperating with a authorities investigation, his agency China Renaissance mentioned in a submitting Sunday.

The corporate’s Hong Kong-listed shares have plunged 29% because the agency mentioned on Feb. 16 it was unable to succeed in Bao. He’s China Renaissance’s controlling shareholder, chief government officer and founder, amongst different roles.

“The Board has grow to be conscious that Mr. Bao is at present cooperating in an investigation being carried out by sure authorities within the Folks’s Republic of China,” China Renaissance mentioned in a submitting with the Hong Kong inventory change Sunday.

In each filings this month, China Renaissance mentioned its enterprise continued to function usually.

Its shares hit a document low of 5 Hong Kong {dollars} (64 cents) on Feb. 17 however have since recovered barely.

Earlier this month, Chinese language monetary information outlet Caixin identified that Bao’s disappearance adopted the investigation of one other China Renaissance government, Cong Lin.

Cong was additionally the chairman of the agency’s subsidiary Huajing Securities.

The China Securities Regulatory Fee Shanghai bureau mentioned in September that Huajing violated securities regulation necessities concerning company governance, and requested Cong to adjust to an investigation.

China Renaissance’s filings about Bao didn’t point out that probe, and a consultant didn’t share extra data when contacted.