Zhejiang Exchange Repayment Exceeds 25%; Xiangyuan Accelerates Asset Disposal

The repayment event at the Zhejiang Financial Assets Exchange, which began in late 2025, has now lasted more than half a year. According to the latest data, the exchange's repayment ratio has exceeded 25%.

Yu Faxiang, the actual controller of Xiangyuan Group, has been criminally detained. At the end of July, three listed companies under Xiangyuan's control - Haichang Ocean Park, Xiangyuan Cultural Tourism and Jiaojian - simultaneously announced changes in the equity interests held by their controlling shareholder. Zhejiang Tourism Investment Group Co. , Ltd. , a provincial state-owned enterprise, won 105 million shares of Xiangyuan Holdings at RMB616 million, representing 10% of Xiangyuan Cultural Tourism's total share capital. Zhejiang Economic Construction Investment Co. won 97.95 million shares at RMB575 million, representing 15.83% of Jiaojian's total share capital.

The above equity changes were completed through judicial auctions. Upon completion of the transactions, Xiangyuan Holdings' shareholding in the two listed companies dropped to 48.07% and 28.49% respectively. Xiangyuan Group is advancing its debt resolution through asset disposal.