Fosun chair back in action, receives standing ovation in Shanghai

The company didn’t clarify if Guo himself is under investigation, but said its directors feel the probe has not posed any material adverse impact on the group.

Mainland news magazine Caijing said Guo had “finalized” assisting in the inquiries and “returned home safely”.

Guo opened the meeting on Monday by stressing that the group’s growth remained rooted in China, even though the company has widely invested in many parts of the world.

Fosun spokeswoman Valentina Wu declined to comment when contacted by AFP Monday.

The Chinese tycoon whose firm has just taken control of Bermuda-based insurance firm Ironshore in a $1.84 billion deal is assisting authorities with an investigation.

Last week, the Post had cited an unnamed well-connected businessman as saying that Guo might be questioned about his connection with two officials who were placed under investigation by China’s anti-graft watchdog. However, in the wake of the summer’s stock market rout, the authorities have intensified their anti-corruption campaign to root out manipulation in the stock market. She died of kidney failure a week before Ai fell.

Mr Guo appeared at a Fosun event at the Kerry Hotel Pudong in eastern Shanghai Monday morning.

The anti-corruption drive launched by Chinese President Xi Jinping has also brought down many senior and lower-level Communist party officials.

Several of China’s top executives have temporarily gone missing this year, in the wake of Beijing’s crackdown on its financial sector.

Guo has a net worth of $7.8 billion, according to the Hurun Report, which follows China’s wealthy.

Fosun Group listed in Hong Kong in 2007.

According to Chinese finance publisher Caixin, Guo gave a 10-minute speech and received a standing ovation but did not touch on his disappearance, having reportedly been whisked away by police at a Shanghai airport after a flight from Hong Kong.

The price of the group’s two listed units in Hong Kong – Fosun International, the investment arm in which Guo holds a 71% equity interest, and Shanghai Fosun Pharmaceutical – plunged by 9.45% and 12.05%, respectively.

Fosun International bought renowned French holiday company Club Med earlier this year and in April was part of a consortium that acquired Canadian entertainment juggernaut Cirque du Soleil.