Firms tied to Fosun in trouble as contact with boss 'lost'

It was a tough day on Friday for all of the companies related to Fosun International, whose chairman, Guo Guangchang, known as the Warren Buffett of China, was confirmed to "have lost contact".

Later on Friday, Fosun International announced that "Guo is assisting judicial authorities in an investigation, and he is still able to take part in the company's decision-making process in an appropriate way". Guo made his last public appearance on Nov 26.

Two Hong Kong-listed companies, Shanghai Fosun Pharmaceutical (Group) Co and Fosun International, announced earlier on Friday morning that trading of their shares would be halted due to "pending release of an announcement containing further information about the company".