On February 2, Huaxing Capital Holdings announced on the Hong Kong Stock Exchange that due to health reasons and the desire to devote more time to family affairs, Bao Fan resigned as the company's executive director, chairman of the board of directors, chief executive officer, chairman of the nomination committee, chairman of the executive committee, and member of the remuneration committee, effective February 2, 2024.
According to the announcement, Xie Yijing was appointed chairman of the board of directors and was reappointed from ** CEO to CEO. On the same day, he was also appointed as the chairman of the Nomination Committee, the chairman of the Executive Committee and a member of the Remuneration Committee. Lin Jiachang was appointed as an executive director and vice chairman of the board of directors of the Company.
In October 2023, Xie Yijing was appointed as the company's chief executive officer, and since February 2023, Xie Yijing has played a leading role in the company's executive committee, responsible for the day-to-day management and operation of the group.
In February 2023, Huaxing Capital announced that the company's founder Bao Fan "lost contact", and in many subsequent announcements, the company said that Bao Fan continues to cooperate with the investigation of relevant Chinese authorities, and the company's affairs are mostly entrusted to executive directors Xie Yijing and Wang Lixing.
It is understood that Bao Fan founded Huaxing Capital in 2005 and led Huaxing Capital to become a leading financial institution serving the new economy in China. In July 2020, Bao Fan officially retired from the background, and the company was handed over to Conglin, the former president and chairman of Huaxing. But in September 2022, the jungle was taken away for investigation. Some outsiders said that Bao Fan was investigated or related to the jungle.
Now, Bao Fan has resigned as the helm of Huaxing Capital, and Huaxing Capital is also in a state of suspension, with a market value of 41HK$3.2 billion.