CR Holdings (01911) resumed trading and saw a sharp drop of 72% at the opening. Bao Fan's wife, Xu Yanqing, was appointed as a director.

On September 9th, CR HOLDINGS (01911), which had been suspended for nearly a year and a half, resumed trading. After resuming trading, the company's stock price fell by nearly 72% at one point, and as of the time of writing, CR HOLDINGS was trading at HK$2.51 per share, a drop of 65.47%. On September 6th, Huaxing Capital announced that major shareholder Ms. Hui Yin Ching, wife of Bao Fan, was appointed as a non-executive director, and Sun Qianhong resigned as a non-executive director, both effective from September 6th. In February 2023, the company announced that the board of directors had been unable to contact Bao Fan. In the same month, Huaxing Capital announced that Bao Fan was cooperating with relevant authorities in China in an investigation. According to Huaxing Capital, major shareholder CR Partners Limited, which holds approximately 38.38% of the company, requested the appointment of Hui Yin Ching as a director. The board of directors and the nomination committee considered her to have the character, experience, and integrity suitable for the role of a non-executive director. According to the company's previous prospectus, CR Partners Limited is held by Bao Fan, Xie Yijing, Du Yongbo, and Wang Xinwei. As of early September, Bao Fan collectively held 277 million shares in Huaxing Capital, accounting for 48.71% of the total issued shares. According to the Securities and Futures Ordinance, Hui Yin Ching is also considered to have ownership of the above-mentioned shareholding rights. Ms. Hui Yin Ching, 54 years old, is the founder, chairman, and CEO of HNA Aviation Technology (Tianjin) Co., Ltd. This company provides global business jet leasing services and is dedicated to serving high-end clients with Internet solutions. Ms. Hui not only has entrepreneurial experience but also is dedicated to domestic charitable causes. In 2017, she and the China Social Welfare Foundation jointly established a charity project to support children with disabilities. In addition, in 2019, Ms. Hui received an International Charitable Management Program Diploma from the Shenzhen International Public Welfare Academy. Over the past three years, Ms. Hui has not served as a director of any other listed company. She is married to the company's major shareholder, Bao Fan. In terms of financial reports, on September 5th, Huaxing Capital announced its unaudited interim performance for the six months ending June 30, 2024. During the period, the company orderly exited fund investment projects to recover cash and strengthen the group's cash flow. Huaxing Capital's total revenue and net investment income for the first half of 2024 were 360 million yuan. At the same time, Huaxing Capital actively repaid syndicated loans and substantially repaid all external debts, resulting in a relatively low overall debt level, with interest-bearing debt accounting for only 6.5% of the group's total assets. Huaxing Capital's assets under management in the first half of 2024 were 34.8 billion yuan, with assets under management generating management fees of approximately 17.4 billion yuan. Total investment banking income for Huaxing Securities in the first half of 2024 was 97.57 million yuan. Huaxing Securities' total revenue and net investment income in the first half of 2024 reached 103 million yuan, accounting for 29% of the group's total income and net investment income.