On August 14, news emerged that Ding Wei, former chairman of CICC Capital, has recently lost contact with the outside world, drawing significant attention.

Since early July, rumors about the "disappearance" of Ding Wei, former chairman of CICC Capital, have quietly spread in financial circles and gradually gained traction in the market. Related rumors suggest that Ding Wei has been out of contact since mid-July and is suspected to have been taken away by disciplinary inspection authorities for investigation.

According to information from Tianyancha, Ding Wei completed a cross-border biomedical investment two months before his "disappearance" - through Borun Multi-Strategy Company, he completed the acquisition of a 12.30% stake in Novagensis Therapeutix Inc., a Cayman Islands-based company, in May this year. The target company is primarily engaged in new drug development and technical services, with a total project investment of $4.1966 million, and the Chinese investment amount of $4.1966 million, equivalent to approximately 30.08 million yuan.

This timing is extremely sensitive, as this investment was completed only about two months before Ding Wei's July "disappearance," indicating that he was still engaged in substantial capital market operations before his suspected investigation, involving cross-border biotechnology assets.

(Image: Source Tianyancha, corporate relationship chart of Xiamen Borun Capital Investment Management Co., Ltd.)

Borun Capital is a comprehensive private equity investment platform established by Ding Wei in Xiamen after his retirement in 2020, which includes Borun Multi-Strategy and Jinfeng Borun.

Although no official public statement has been released, according to reports from multiple authoritative financial media outlets, he is indeed "unreachable," a sign that has attracted high attention within the industry.

This development was partially "confirmed" on August 12: Chongqing Changan Automobile Company Limited issued an announcement stating that Ding Wei resigned from his position as independent director and related duties due to "personal reasons," effective from the date the resignation report was delivered. Although the announcement was mild in tone, mentioning only personal factors, against the backdrop of disappearance rumors that have persisted for more than a month, this resignation undoubtedly further strengthened market speculation about his "being investigated." Ding Wei received compensation of 200,000 yuan from Chongqing Changan Automobile Company Limited last year.

More concerning is that Ding Wei is not the only one "missing." During the same period, multiple business backbone personnel within CICC Capital are also suspected to have lost contact simultaneously, including important figures such as An Heng, general manager of CICC Qiyuan Fund. Insiders suggest that this incident may not be an isolated case, but part of an anti-corruption storm within CICC or a broader range of financial institutions.

It's worth noting that as early as April 2024, Ding Wei, as the senior management personnel then in charge of the aforementioned business, had received a warning letter from the Beijing Securities Regulatory Commission due to regulatory issues.

Ding Wei's downfall is particularly noteworthy, given his important position in the CICC system for more than twenty years - from an early "investment banking veteran" who led central enterprise IPOs to the founder of CICC Capital, his career trajectory can be said to reflect CICC's key transformation path from investment banking to the asset management era.

Ding Wei was born in 1960 and graduated from the Department of Finance at Renmin University of China. Starting in 1987, he went to the United States to join the World Bank, later seconded to the International Monetary Fund, serving as chief representative in Albania. His international financial perspective and macroeconomic foundation laid the groundwork for his later management of large capital market projects.

In 1999, Ding Wei returned to China to join Deutsche Bank China, and then officially joined CICC in 2002, becoming one of the core leaders of investment banking business. Over the following decade, he led his team in major central enterprise IPO projects including PetroChina, Industrial and Commercial Bank of China, Agricultural Bank of China, and China Mobile, particularly well-known for the 2010 Agricultural Bank of China A+H dual listing (the world's largest fundraising at the time).

In 2011, Ding Wei briefly left CICC to serve as China president at Singapore's Temasek and served as vice chairman of Morgan Stanley Asia Pacific. However, in 2016, when CICC launched its private equity business layout, he was invited to return, thus beginning a new chapter for "CICC Capital."

CICC Capital was established in 2017 as a wholly-owned subsidiary of CICC, carrying its expansion vision in domestic and overseas equity investment businesses including fund of funds, mixed-ownership reform funds, PE, and M&A funds. Ding Wei served as chairman and almost led the establishment and negotiation of all core projects.

By mid-2020, CICC Capital managed assets approaching 300 billion yuan, with partners covering national-level fund of funds, dozens of local governments, state-owned asset platforms, and industry leaders.

Even after Ding Wei retired in 2020 upon reaching age 60, he continued to participate indirectly in projects through platforms such as Xiamen Borun Capital and served as independent director or advisor for listed companies.

Currently, regarding Ding Wei's "disappearance," CICC remains silent, with no other public statements besides Chongqing Changan Automobile Company Limited.

Additionally, data shows that Ding Wei previously served as independent director of GTHT with compensation of 250,000 yuan in 2024, and as independent director of Hundsun Technologies Inc. with compensation of 240,000 yuan in 2024, both positions ending in April this year.

However, Ding Wei's resignation from listed company positions, combined with the "disappearance" of multiple CICC backbone personnel, has to some extent indicated the severity and scope of the incident.

Ding Wei's "disappearance" may only be a beginning, but it reflects the complex reality of capital markets.