Zhou Chengjian, Chinese fashion tycoon, has disappeared since Wednesday. Chengjian’s mysterious disappearance has prompted his Shanghai-based company Metersbonwe to suspend trading its shares on the Chinese stock market from Thursday, according to The Guardian.
Chengjian, 51, isn’t the only billionaire who disappeared during the past month. Zhou’s disappearance comes less than a month after Chinese billionaire Guo Guangchang, known as “China’s Warren Buffet,” went missing on December 10.
Some insiders of China’s stock market claimed that Zhou Chengjian was taken away by police on January 6, according to Chinese media. Metersbonwe released a statement on Thursday morning, announcing the decision to suspend trading its shares immediately on the Shenzhen Stock Exchange.
“In regard to the news around Mr Zhou Chengjian, the actual controller and Chairman of Shanghai Metersbonwe, the company has followed the regulations set by the Notice of the Shenzhen Stock Exchange and applied to suspend trading the shares on January 7, 2016,” the statement read.
The company said Tu Ke, the board secretary, also remains uncontactable. A spokesman for the company confirmed on the evening of Thursday that the suspension would continue today.
Price per share of Metersbonwe stocks was 6.07 Yuan (63p) when the market closed on Wednesday. Xu Bin, a spokesman for Metersbonwe, said the company has not learned if Zhou has been taken by any authorities and the company is operating as usual. The spokesman also said Zhou Chengjian attended a company meeting on Wednesday.
Zhou, a self-made entrepreneur, is the founder and owner of Metersbonwe, the Chinese equivalent of H&M. He’s the 62nd richest man in China and is worth 26.5 billion Yuan, according to Hurun Report, China’s answer to Forbes 500.
Chengjian was born to a family of farmers in a small village in Lishui city, east China. Zhou started his career as a local tailor and founded Metersbonwe in 1995.
The company’s headquarters moved to Shanghai in 2004 and started trading on the Chinese stock market in 2009. The brand claims on its website to run nearly 4,700 franchises on the high streets around the country.
Metersbonwe says it’s investigating the disappearance of Zhou Chenjian. There has been no statement from Chinese police authorities regarding the case.
Zhou’s disappearance comes in the midst of a sweeping corruption crackdown led by President Xi Jinping in which dozens of executives at state-owned companies have been detained or questioned.
Guy Guangchang, 48, the billionaire chairman of the conglomerate that owns Club Med, went missing on December 10. His company Fosun International suspended trading of its shares on December 11 after reports of his disappearance.
Guy was later located by the company, who said in a statement: “After making enquiries, the Company understands that Mr Guo is currently assisting in certain investigations carried out by Mainland judiciary authorities.” Guy has a net worth of $7.8 billion, according to the Hurun Report.