Zhou Chengjian, the cofounder and chief executive of Shanghai Metersbonwe Fashion & Accessories, along with board secretary Tu Ke,is back at work.
The news was revealed in a statement to the Shenzhen stock exchange, according to reports in official Chinese media outlets.
There is no word on what the retail magnate has been doing since his disappearance on Jan. 7, and a spokesman from Metersbonwe was not immediately available to comment, but it is widely believed he has been helping authorities with their inquiries relating to Zhou’s links to a fund manager named Xu Xiang who was arrested for insider trading in November.
Xu’s firm was reportedly once Metersbonwe’s third-largest shareholder, making tens of millions of dollars from trading in the company’s shares in the six months to April 2015.
One of China’s best-known homegrown fashion retailers, Metersbonwe has more than 4,000 stores across China. The youth fashion brand has fallen on tough times of late though, closing 800 physical stores in 2014, and then losing in excess of 90 million yuan, or $13.7 million at current exchange, in the first half of 2015.
Analysts quoted in Chinese media reports estimate the company’s full-year losses to be somewhere in the order of 250 million yuan for 2015, or $37.9 million at current exchange.
Despite the challenging business environment and increasing competition from foreign fast-fashion brands expanding at an impressing clip across China, Zhou rose to 62nd on the 2015 Hurun Rich List, with an estimated total wealth of 26.5 billion yuan, or just over $4 billion.