Fosun International chairman Guo Guangchang attended a company meeting in Shanghai on Monday, a person at the event said, his first public appearance since a report he had gone missing last week sparked share suspension and speculation the firm was being drawn into Beijing's corruption crackdown.
Guo, a self-styled student of investor Warren Buffett, received a standing ovation from people gathered at a Shanghai hotel for Fosun's annual meeting, said the person, who declined to be named as they were not authorized to speak to the media.
On Sunday, the president of Guo's investment conglomerate Fosun International said the billionaire was helping police with an investigation that mostly concerned his personal affairs.
Fosun had confirmed on Friday that Guo was assisting authorities with a probe, a day after local media said the group had lost contact with its founder.
"We trust Chairman Guo is a wise man and will actively cooperate and fulfil his duties to assist the investigation as soon as possible," company president Wang Qunbin told a conference call on Sunday.
"It is mostly about his personal affairs," said Wang, when asked whether the probe was related to the company or Guo personally. Wang said he could not provide more details as the investigation was "sensitive."
Chief executive Liang Xinjun said Guo was helping police in Shanghai and said that he was currently assisting with an investigation and not the subject of it. He did not give further details about the nature of the probe.
Reuters' calls to the Ministry of Public Security in Beijing seeking comment on the situation were not answered. A Fosun spokeswoman declined to comment on Monday.
Guo's sudden absence, and the lack of detailed information that the company has given about his status, underlines the opaqueness of China's legal system.