Two Chinese business executives at companies controlled by the embattled financial conglomerate Zhongzhi have gone missing, according to statements by their respective firms.
The development comes just days after Chinese authorities launched a criminal investigation into the troubled shadow bank, one of China’s largest. Last week, Zhongzhi told its investors that it is “severely insolvent.”
Dalian My Gym Education Technology, a listed education firm, said it is unable to get in touch with its chairwoman Ma Hongying.
“The company is not sure of the specific reason why it cannot get in touch with Ms. Ma Hongying,” the company said in a filing to the Shenzhen Stock Exchange on Thursday.
On the same day, Xinjiang Tianshan Animal Husbandry Bio-engineering, which breeds cattle and dairy cows in the Xinjiang region, said it had lost touch with its chairman Ma Changshui.
Both companies are controlled by Zhongzhi’s investment units, and the missing executives have been connected with the conglomerate for years.
I think they eventually come back though, right? I don’t know enough here but the ones I’ve heard of all eventually come back.