After being investigated for two and a half years, Bao Fan of CR HOLDINGS "returns"
The founder of CR HOLDINGS, Bao Fan, has ceased to participate in the company's daily operations after undergoing two and a half years of investigation. Bao Fan went missing in February 2023 due to cooperating with Chinese authorities in an investigation related to the misconduct of former president Cong Lin. In February 2024, Bao Fan resigned from all positions, and the financial report released by CR HOLDINGS in September 2024 showed a loss of 472 million yuan, with the impact of the investigation still ongoing
According to Jiemian News, several people close to CR HOLDINGS stated that "recently Bao Fan has 'come out', and he is no longer involved in the group's daily operations." Subsequently, CR HOLDINGS responded to Jiemian News, stating, "There is no relevant response, everything is subject to the public information from CR HOLDINGS."
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