Guotai Junan's Yan Feng resumes duties after assisting probers

December 24, 2015 10:23
Yan Feng has resumed his duties at Guotai Junan after assisting authorities in probes unrelated to himself or the company. Photo: HKEJ

Guotai Junan International Holdings Ltd. (01788.HK) said its chairman and chief executive Yan Feng (閻峰) has resumed his duties after assisting Chinese authorities in probes unrelated to himself or the company, the Hong Kong Economic Journal reported Thursday.

The company had announced on Nov. 23 that it had lost contact with Yan since Nov. 18 and appointed deputy chief executives Qi Haiying (祁海英) and Wang Dongqing (王冬青) as acting chair and acting chief executive respectively.

On Dec. 22, however, Yan notified the company of what had happened and resumed his roles in the company on Wednesday.

His disappearance has prompted speculation that he was being detained by authorities for investigation into wrongdoings related to Yao Gang (姚剛), former deputy chairman of the China Securities Regulatory Commission.

There were also rumors that Yan was being investigated in connection with insider dealing probes into senior executives of CITIC Securities Co. Ltd. (06030.HK) who had prior knowledge of the central government's plans to boost the stock market.

In its latest statement, Guotai Junan said the group's operations and business remain stable and normal. 

Beijing Urban Construction Design and Development Group Co. Ltd. (01599.HK), meanwhile, has restored Yan's role as independent non-executive director of the company, the report said.

[Chinese version中文版]

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Hong Kong Economic Journal