Fosun Group Chairman Assisting Authorities in Graft Investigation Against Company

An investigation with which Fosun International Chairman Guo Guangchang is assisting authorities is mostly about his personal affairs, the company’s chief executive said on Sunday without providing further details.

“An extended investigation of Guo could potentially have a negative impact on the company’s access to funding and its acquisitions that are pending completion”, ratings agency Standard & Poor’s said on Monday, adding that there was no immediate impact on Fosun International’s ratings.

At the same time, media reports alleged that Mr. Guo showed up at a Fosun event at the Kerry Hotel Pudong in eastern Shanghai today.

Guo’s reappearance comes four days after he was reported missing, prompting Fosun Group to suspend share trading in mainland China and Hong Kong.

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. A court cited Guo in August as being linked to a supermarket chain chairman who was jailed for corruption.

That followed a report by respected Chinese business news site Caixin that the company had been unable to contact Guo since noon on Thursday.

Following Guo’s “disappearance” yesterday, shares in his Fosun Group slumped on Friday.

China is in the midst of a 3-year-old anti-graft crackdown led by President Xi Jinping that has snared dozens of executives at state-owned companies in oil and other industries. Guo has been under suspicion of exchanging favors in connection with a venture between Fosun Group and retailer Shanghai Friendship Group.

A spokesman said it was otherwise operating as normal.

Fosun International plunged nearly 11 percent in Hong Kong, while Fosun Pharmaceutical dropped almost six percent in Shanghai and dived 11.65 percent in the former British colony.

The company said that its shares would resume trading on Monday.

Many speculated that he might become the latest high-profile exec to be brought down by China’s ongoing anti-corruption campaign, which has recently targeted the financial services sector.

Fosun Group owns Club Mediterranee and a stake in Cirque du Soleil, as well as interests in insurance, real estate, pharmaceutical and commodities.

Both Wang and Ai are said to have links with Jiang. Fosun International announced 16 deals worth a combined 29 billion yuan ($4.5 billion) this year, according to data compiled by Bloomberg.