China Renaissance Hldgs Stock (OTC: CSCHF)

Latest news for China Renaissance Hldgs (OTC:CSCHF) Stock

China Renaissance Holdings Ltd is an investment banking and investment management company that combines private placement advisory, Merger and Acquisition advisory, securities underwriting, research, sales and trading, investment management, and other financial services. Its segments include Investment Banking, Investment Management, CR Securities, and Others. The company generates maximum revenue from the Investment Management segment.

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CSCHF

Missing Investment Banker Cooperating With Chinese Authorities In An Investigation

Xi Jinping Photo by Gil Corzo on Shutterstock

General

Chinese Banker Was Reportedly Moving Wealth To Singapore Before Going Missing Amid Potential Xi Jinping&#39;s Crackdown

Xi Jinping Photo by Alexander Khitrov on Shutterstock

Tech

Xi Jinping&#39;s Pursuit Of Total Control In China Sparks Fears Of Crackdown As Investment Banker Goes Missing

CHINA RENAISSANCE HLDGS by CHINA RENAISSANCE HLDGS LTD

China Renaissance Holdings Ltd

Jefferies analyst Suneet Kamath maintains Voya Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOYA#NYSE">VOYA</a>) with a Hold and raises the price target from $78 to $80.

Price Target

Analyst Ratings

VOYA

Jefferies Maintains Hold on Voya Financial, Raises Price Target to $80

VLCN

Volcon Regains Nasdaq Compliance

Truist Securities analyst Brandon King maintains Pinnacle Finl Partners (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>) with a Buy and raises the price target from $87 to $101.

PNFP

Truist Securities Maintains Buy on Pinnacle Finl Partners, Raises Price Target to $101

Jefferies analyst Suneet Kamath maintains Primerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRI#NYSE">PRI</a>) with a Hold and raises the price target from $239 to $249.

Jefferies Maintains Hold on Primerica, Raises Price Target to $249

Trust Stamp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDAI#NASDAQ">IDAI</a>) announced that it has entered into a Letter of Intent with Qenta Inc. for a strategic alliance to serve a global federated network including crypto, bank, and other financial services companies. The Letter of Intent is non-binding until the definitive transaction documents are executed.

IDAI

Trust Stamp Signs LOI For A Transformative Strategic Alliance With Qenta To Serve A Global Federated Network Including Crypto, Bank, And Other Financial Services Companies

WIIM

10x Genomics shares are trading lower after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $40 to $20.

Management

ALGT

Allegiant Appoints President Greg Anderson As CEO

Truist Securities analyst Jailendra Singh maintains Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) with a Hold and raises the price target from $13 to $23.

Hims & Hers Health, Inc. Class A Common Stock

HIMS

Truist Securities Maintains Hold on Hims & Hers Health, Raises Price Target to $23

Hexcel shares are trading lower after the company missed Q2 revenue estimates and lowered its FY24 outlook.

Sarah Johnson, a 32-year-old software engineer who recently moved to Chicago from Los Angeles, thought she was doing everything right. Good job, steady savings, excellent credit score. But she hit a wall when she set out to buy her first home this year.
"I make six figures, and I still can&#8217;t afford a decent place," Johnson told Benzinga. "It&#8217;s like the goal posts keep moving."
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She&#8217;s not alone. A report issued by Realtor.com quantified a trend: The salary needed to buy a median-priced home in the U.S. has nearly doubled since the start of the COVID-19 pandemic.
Until early 2022, the minimum income required for a median-priced home was close to the median household income. There's now a $36,000 gap between what Americans typically earn (about $84,000) and what they need to make (around $120,000) to afford an average home.
"This is how we think about the affordability curve," explains Hannah Jones, a senior economic analyst at Realtor.com. "How do incomes measure up against inventory?"
The answer, for many Americans, is poor.
The shift is most dramatic in coastal cities. In Los Angeles, the income required to buy a median-priced home has skyrocketed from $152,000 in 2016 to $335,000 today. Despite the growth, the median income falls short by $240,000.
Trending: Rory McIlroy&#8217;s mansion in Florida is worth $22 million today, doubling from 2017 —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> here&#8217;s how to get started investing in real estate with just $100</a>
San Diego and San Jose are similar to LA, with median home prices now hovering around $1 million and $1.4 million, respectively. Boston and New York City are seeing their affordability crises unfold on the East Coast.
But it&#8217;s not just the usual suspects feeling the pinch. Kansas City, Missouri, once an affordable area, has seen its housing market transform. In 2016, the median income exceeded the minimum required for a home by $14,000. Today, there&#8217;s a $32,000 deficit.
"It&#8217;s not just about high demand," Jones said. "It&#8217;s also about how these cities manage inventory. Places like DC, which have seen crazy price growth because of limited inventory, showcase how significant these factors are in driving prices up."
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However, there are pockets of relative stability. Some Texas markets, including Houston, San Antonio, and Dallas, have <a href="https://www.benzinga.com/real-estate/24/05/38970190/housing-affordability-challenges-persist-yet-buyers-market-flourishes-in-texas-and-florida">managed to maintain some balance</a>. Jones attributes that to the size of the markets and their ability to construct new homes, enabling "price growth to be more reasonable relative to incomes."
A few <a href="https://www.benzinga.com/real-estate/24/07/39727958/a-massive-bubble-in-the-housing-market-has-developed-and-it-is-about-to-pop-real-estate-executive-sa">markets even buck the trend entirely</a>. Detroit, Pittsburgh, and Baltimore stand out as examples where median household incomes still surpass the required income for a median-priced home. Those cities, with some of the country&#8217;s least expensive real estate, offer hope for those seeking affordable homeownership.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Metropolitan Area</td>
<td>Year</td>
<td>Median Home Price</td>
<td>Required Income</td>
<td>Median Income</td>
</tr>
<tr>
<td>Los Angeles-Long Beach-Anaheim, CA</td>
<td>2016</td>
<td>$749,900</td>
<td>$151,657</td>
<td>$65,950</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$1,249,000</td>
<td>$335,296</td>
<td>$95,465</td>
</tr>
<tr>
<td>San Jose-Sunnyvale-Santa Clara, CA</td>
<td>2016</td>
<td>$979,000</td>
<td>$197,990</td>
<td>$110,040</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$1,441,979</td>
<td>$387,102</td>
<td>$162,005</td>
</tr>
<tr>
<td>San Diego-Chula Vista-Carlsbad, CA</td>
<td>2016</td>
<td>$669,900</td>
<td>$135,478</td>
<td>$70,824</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$1,048,944</td>
<td>$281,591</td>
<td>$107,635</td>
</tr>
<tr>
<td>Boston-Cambridge-Newton, MA-NH</td>
<td>2016</td>
<td>$519,000</td>
<td>$104,961</td>
<td>$82,380</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$879,000</td>
<td>$235,969</td>
<td>$113,214</td>
</tr>
<tr>
<td>New York-Newark-Jersey City, NY-NJ-PA</td>
<td>2016</td>
<td>$449,000</td>
<td>$90,804</td>
<td>$71,897</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$789,000</td>
<td>$211,808</td>
<td>$100,053</td>
</tr>
<tr>
<td>Washington-Arlington-Alexandria, DC-VA-MD-WV</td>
<td>2016</td>
<td>$439,999</td>
<td>$88,984</td>
<td>$95,843</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$632,004</td>
<td>$169,663</td>
<td>$130,503</td>
</tr>
<tr>
<td>Kansas City, MO-KS</td>
<td>2016</td>
<td>$235,000</td>
<td>$47,526</td>
<td>$61,385</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$429,000</td>
<td>$115,166</td>
<td>$83,173</td>
</tr>
</tbody>
</table>
</figure>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Metropolitan Area</td>
<td>Year</td>
<td>Median Home Price</td>
<td>Required Income</td>
<td>Median Income</td>
</tr>
<tr>
<td>Hartford-East Hartford-Middletown, CT</td>
<td>2016</td>
<td>$274,900</td>
<td>$55,595</td>
<td>$72,559</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$449,900</td>
<td>$120,776</td>
<td>$93,124</td>
</tr>
<tr>
<td>Richmond, VA</td>
<td>2016</td>
<td>$274,950</td>
<td>$55,605</td>
<td>$62,929</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$475,000</td>
<td>$127,515</td>
<td>$91,215</td>
</tr>
<tr>
<td>Milwaukee-Waukesha, WI</td>
<td>2016</td>
<td>$219,900</td>
<td>$44,472</td>
<td>$58,029</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$400,000</td>
<td>$107,381</td>
<td>$77,439</td>
</tr>
<tr>
<td>Houston-The Woodlands-Sugar Land, TX</td>
<td>2016</td>
<td>$329,999</td>
<td>$66,738</td>
<td>$61,708</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$372,900</td>
<td>$100,106</td>
<td>$83,312</td>
</tr>
<tr>
<td>Detroit-Warren-Dearborn, MI</td>
<td>2016</td>
<td>$200,000</td>
<td>$40,447</td>
<td>$56,142</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$275,000</td>
<td>$73,824</td>
<td>$77,369</td>
</tr>
<tr>
<td>San Antonio-New Braunfels, TX</td>
<td>2016</td>
<td>$287,900</td>
<td>$58,224</td>
<td>$56,105</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$349,000</td>
<td>$93,690</td>
<td>$78,499</td>
</tr>
<tr>
<td>Pittsburgh, PA</td>
<td>2016</td>
<td>$166,900</td>
<td>$33,753</td>
<td>$56,063</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$259,900</td>
<td>$69,771</td>
<td>$77,133</td>
</tr>
<tr>
<td>Baltimore-Columbia-Towson, MD</td>
<td>2016</td>
<td>$289,900</td>
<td>$58,628</td>
<td>$76,788</td>
</tr>
<tr>
<td> </td>
<td>2024</td>
<td>$369,900</td>
<td>$99,300</td>
<td>$99,866</td>
</tr>
</tbody>
</table>
</figure>
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Real Estate

Affording A Home Now Requires Double The Salary Thanks To The Pandemic: Check Your City's New Reality

Truist Securities analyst Barry Jonas maintains Everi Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVRI#NYSE">EVRI</a>) with a Hold and lowers the price target from $11 to $10.

EVRI

Truist Securities Maintains Hold on Everi Hldgs, Lowers Price Target to $10

Benchmark analyst Subash Chandra reiterates Magnolia Oil &amp; Gas (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGY#NYSE">MGY</a>) with a Hold.

Reiteration

Benchmark Reiterates Hold on Magnolia Oil & Gas

Foot Locker shares are trading lower after Morgan Stanley downgraded the stock from Equal-Weight to Underweight and lowered its price target from $24 to $18.

Mercedes-Benz Group AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>) and Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) are in talks with the Serbian government to invest in lithium-processing and <a href="https://www.benzinga.com/electric-vehicles">electric vehicle (EV) battery production</a>.
Both companies&#8217; involvement would focus on developing EV battery output and processing facilities. 
The car companies, already partners in a battery joint venture, aim to build on the line of Rio Tinto Plc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>) $2.4 billion investment in a Serbian mine.
These discussions mark progress in reviving the project that Serbia halted two years ago after local protests, reported <a href="https://www.bloomberg.com/news/articles/2024-07-18/mercedes-stellantis-in-talks-to-back-serbia-s-lithium-ambitions?srnd=industries-v2&amp;sref=TBDibEcD">Bloomberg</a>.
The Serbian government has emphasized the need for a comprehensive lithium industry rather than merely exporting raw materials. 
As the European Union depends entirely on imports for battery production, it is keen on developing its own EV supply chain to reduce reliance on Asia. 
Despite potential advancements in European battery production, the industry remains heavily dependent on China&#8217;s raw materials and processing capabilities.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/07/39820627/starbucks-and-mercedes-benz-rev-up-ev-charging-along-i-5-a-green-drive-from-canada-to-mexico">Starbucks and Mercedes-Benz Rev Up EV Charging Along I-5: A Green Drive from Canada to Mexico</a>
An overall slowdown in EV adoption has delayed several battery manufacturing projects. Both Mercedes and Stellantis have paused two out of three planned battery plants in Europe, originally budgeted at €7 billion ($7.7 billion), due to lower-than-expected vehicle demand.
Serbia&#8217;s President Aleksandar Vucic announced that Serbia will sign a framework agreement with the European Union on mineral raw materials. 
The agreement aims to establish a processing industry and battery production in Serbia, ensuring that produced materials and EVs qualify for sale in the EU without additional taxes.
Management from both the automakers may sign letters of intent to further develop Serbia's lithium industry, boosting the country&#8217;s economic growth and technological advancements.
Price Action: STLA shares are trading higher by 3.20% at $20.99 in premarket at last check Thursday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

MBGYY

STLA

Mercedes-Benz, Stellantis Consider Major Investment In Serbian Lithium Project

Jefferies analyst Suneet Kamath maintains Principal Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFG#NASDAQ">PFG</a>) with a Hold and raises the price target from $73 to $76.

Jefferies Maintains Hold on Principal Finl Gr, Raises Price Target to $76

Pinnacle Financial Partners shares are trading lower after Piper Sandler downgraded the stock from Overweight to Neutral despite raising its price target from $95 to $98.

Jefferies analyst Suneet Kamath maintains MetLife (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>) with a Buy and raises the price target from $83 to $86.

Jefferies Maintains Buy on MetLife, Raises Price Target to $86

e.l.f. Beauty shares are trading higher after Baird upgraded the stock from Neutral to Outperform and raised its price target from $210 to $230.

Benchmark analyst Todd Brooks reiterates Chuy's Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHUY#NASDAQ">CHUY</a>) with a Buy and maintains $41 price target.

CHUY

Benchmark Reiterates Buy on Chuy's Holdings, Maintains $41 Price Target

BMO Capital analyst James Fotheringham maintains Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) with a Market Perform and lowers the price target from $42 to $41.

BMO Capital Maintains Market Perform on Synchrony Finl, Lowers Price Target to $41

China Renaissance In 'Most Challenging Period Since Its Establishment' Amid Founder's Absence

China Renaissance Edges Closer To Trading Resumption Under New Chairman

China Renaissance Holdings (HK:1911) has released an update. China Renaissance Holdings Limited has actively worked with its auditors on the 2022 a...

China Renaissance Moves Towards Trading Resumption

China Renaissance Hldgs

One of <a href="https://www.benzinga.com/news/23/02/30955846/xi-jinpings-pursuit-of-total-control-in-china-sparks-fears-of-crackdown-as-investment-banker-goes-mi">China's high-profile investment bankers who went missing</a> is currently cooperating with relevant Chinese authorities conducting an investigation.



What Happened: China Renaissance Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSCHF#OTC">CSCHF</a>), in an exchange filing on Sunday, said that its missing chairman Bao Fan is under the purview of an investigation by Chinese authorities, reported Reuters.



See Also: <a href="https://www.benzinga.com/news/23/02/31043617/pinebridge-is-loading-up-on-indian-stocks-as-adani-hindenburg-saga-brings-fresh-opportunity">Pinebridge Is Loading Up On Indian Stocks As Adani-Hindenburg Saga Brings Fresh Opportunity</a>



This came as the first update on the reason for the disappearance of its founder from the mainland China-based boutique bank since Fan went missing 10 days ago. However, no details about the investigation were shared by the bank.



&#8220;The Board would like to reiterate that the business and operations of the Group are continuing normally,&#8221; the bank said in the exchange filing.



Bao's disappearance was one of <a href="https://www.benzinga.com/news/21/01/19018377/jack-ma-not-missing-alibaba-founder-laying-low">the latest in a series of cases of top Chinese executives going missing </a>without apparent explanation as <a href="https://www.benzinga.com/news/22/10/29390780/xi-jinpings-rising-power-forces-chinas-wealthiest-to-execute-their-fire-escape-plans">Beijing cracked down on business and tech leaders</a> amid President Xi Jinping&#8216;s sweeping anti-corruption campaign.



Bao is a leading Chinese deal broker whose clients include top tech giants, including Didi and Meituan.



Last week, Financial Times reported that Bao was preparing to<a href="https://www.benzinga.com/news/23/02/31003288/chinese-banker-was-reportedly-moving-wealth-to-singapore-before-going-missing-amid-potential-xi-jinp"> move some of his fortunes from China and Hong Kong to Singapore</a> in the months leading to his disappearance.



Check out more of Benzinga&#8217;s Europe and Asia coverage by&nbsp;<a href="https://www.benzinga.com/topic/eurasia">following</a>&nbsp;<a href="https://www.benzinga.com/topic/eurasia">this link</a>.

Bao Fan, China's missing high-profile investment banker, was working to set up a Singapore family office <a href="https://www.benzinga.com/news/23/02/30955846/xi-jinpings-pursuit-of-total-control-in-china-sparks-fears-of-crackdown-as-investment-banker-goes-mi">before he went missing, sparking concerns about a potential Beijing crackdown. </a>



What Happened: Bao, the chief executive of China Renaissance Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSCHF#OTC">CSCHF</a>), went missing last week without apparent explanation. He was preparing to move some of his fortunes from China and Hong Kong to Singapore in <a href="https://www.benzinga.com/news/21/01/19018377/jack-ma-not-missing-alibaba-founder-laying-low">the months leading up to his disappearance</a>, <a href="https://www.ft.com/content/d5f8a388-dcd8-4650-858a-b9f74a057d40">according</a> to a Financial Times report.



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Bao is a leading Chinese deal broker whose clients include top tech giants, including Didi and Meituan. He was reportedly establishing a family office in the city-state to manage his personal wealth in the final months of 2022, the people aware of the developments told the publication.



"Like many wealthy Chinese since the tech crackdown in China and during the pandemic lockdown, he was trying to diversify his wealth in Singapore," said one of the people, according to the report.



Since the re-election of President Xi Jinping in China's top office, <a href="https://www.benzinga.com/news/22/10/29390780/xi-jinpings-rising-power-forces-chinas-wealthiest-to-execute-their-fire-escape-plans">many of the country&#8217;s rich have been moving away from Beijing</a> and setting up family offices in Singapore.



Bao's disappearance renewed concerns of a <a href="https://www.benzinga.com/government/22/12/30123060/china-expresses-solidarity-with-alibaba-for-first-time-since-two-years-of-crackdown">potential regulatory assault on business and tech leaders </a>amid Xi's sweeping anti-corruption campaign. It is also one of the latest in a series of cases of top Chinese executives going missing without apparent explanation.



Check out more of Benzinga&#8217;s Europe and Asia coverage by&nbsp;<a href="https://www.benzinga.com/topic/eurasia">following</a>&nbsp;<a href="https://www.benzinga.com/topic/eurasia">this link</a>.

Chinese Banker Was Reportedly Moving Wealth To Singapore Before Going Missing Amid Potential Xi Jinping's Crackdown

One of China&#8217;s top most high-profile investment bankers has gone missing.&nbsp;



What Happened: China Renaissance Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CSCHF#OTC">CSCHF</a>), in a market update on Thursday, said it had yet to be able to reach its chief executive Bao Fan in recent days.



Bao&#8217;s disappearance renewed concerns of a potential <a href="https://www.benzinga.com/government/22/12/30123060/china-expresses-solidarity-with-alibaba-for-first-time-since-two-years-of-crackdown">Beijing crackdown on business and tech leaders </a>amid President Xi Jinping's sweeping anti-corruption campaign. It is also one of the latest in a series of cases of top Chinese executives going missing without apparent explanation. 



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Bao is a leading Chinese deal broker whose clients include top tech giants, including Didi and Meituan.



The company, in a notice to the stock market, said it had &#8220;been unable to contact Mr Bao Fan.&#8221;



&#8220;The board is not aware of any information that indicates that Mr Bao&#8217;s unavailability is or might be related to the business and or operations of the Group which is continuing normally,&#8221; the China-based bank said in a late-Thursday filing.



Although the company did not specify for how long Bao had been missing, a Chinese business newswire Caixin, citing sources, said the staff had not been able to contact him for two days.



Price Action: As the market opened on Friday, Hong Kong-listed shares of China Renaissance Holdings plummeted as much as 50% to hit a record low of HK$5, wiping off HK$2.8 billion in market value. However, it recovered early losses and was trading 26.5% lower during the afternoon session on Friday. 



Check out more of Benzinga&#8217;s Europe and Asia coverage by <a href="https://www.benzinga.com/topic/eurasia">following</a> <a href="https://www.benzinga.com/topic/eurasia">this link</a>.



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China Renaissance Hldgs

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