According to Mars Finance, on August 8, multiple independent sources reported that Bao Fan, the founder of Hong Kong-listed Huaxing Capital Holdings (01911.HK), has recently been rumored to have reappeared. In February 2023, Bao Fan was suddenly taken away by relevant authorities, shocking the venture capital community. Since then, the authoritative departments have not disclosed any updates on the case and investigation progress. Huaxing Capital responded externally that Bao Fan is no longer involved in the group's daily management and operations, and his personal life dynamics are considered private matters, which Huaxing Capital will no longer respond to. According to RockFlow market data, Hong Kong-listed Huaxing Capital Holdings (01911.HK) rose by 16.84% today and plans to invest $100 million to enter the Web3 and cryptocurrency sectors.