"Xiangyuan Group" financial products default, three affiliated companies respond urgently

LightningPacketLoss · 2026-04-07T02:16:40+00:00

The overdue event of "Xiangyuan System" financial products has attracted attention, and three listed companies under it have issued urgent clarifications. Xiangyuan Cultural Tourism stated that some financial products related to the controlling shareholder have experienced overdue payments, but the company and its subsidiaries are not responsible. The incident involves "Zhejiang Financial Center," whose financial asset trading business license has been revoked, and future handling of existing business needs to be properly managed.

LightningPacketLoss

2026-04-07 02:16:40

Abstract generation in progress

China Fund Reporter Taylor

Hello everyone. The overdue incident involving financial products from the “Xiangyuan” group continues to unfold, and all three of its listed companies have issued emergency announcements to “sever” ties.

On the evening of December 7, Xiangyuan Culture and Tourism announced that media reports have appeared online alleging that some financial products in which Xiangyuan Holdings, the company’s indirectly controlling shareholder, and the company’s actual controller would bear joint and several guarantee responsibilities had part of their principal and interest not been paid upon maturity, which has drawn investor attention.

The company has verified the relevant matters with Xiangyuan Holdings and the company’s actual controller and conducted a self-check. To avoid misleading the market with inaccurate information and to protect investors’ legitimate rights and interests, the company hereby makes the following statement:

Financial products issued on a certain platform that involve projects in cooperation with Xiangyuan Holdings real estate have experienced partial overdue payments upon maturity. Xiangyuan Holdings and the company’s actual controller shall bear joint and several guarantee responsibilities for the aforementioned payment obligations. Xiangyuan Holdings and the company’s actual controller are currently communicating with relevant parties regarding the specific circumstances of the overdue payments.
The financial products involved in this incident are not related to Xiangyuan Culture and Tourism or its participating/controlling subsidiaries. Xiangyuan Culture and Tourism does not assume any repayment and guarantee obligations, and the company has not provided guarantees or credit enhancement for the repayment of any financial wealth management products.
The company’s production and operations are currently operating normally. The company’s management commits to comply with the “Code of Governance for Listed Companies,” ensuring independence from the controlling shareholder and actual controller in areas such as assets, personnel, finance, institutions, and business.

In addition, the other two listed companies under Xiangyuan Holdings—Jiaojian Co., Ltd. and Haichang Ocean Park—have also issued similar announcements.

The overdue incident of the financial products mentioned by the three listed companies refers to the repayment crisis of “Zhejiang Gold Center.” “Zhejiang Gold Center” is the full name of Zhejiang Financial Assets Exchange Center. Recently, many investors have posted on social media, saying that “some financial asset income-right products traded on the Zhejiang Gold Center platform have matured but were unable to be repaid.”

Previously, investors could buy certain “income-right products” through Zhejiang Gold Center and expected to receive a certain return (for example, an advertised expected yield of about 4%~5%), attracting some people who wanted relatively steady wealth management.

This time, after a batch of wealth management products offered on the Zhejiang Gold Center platform and guaranteed with a guarantee endorsement provided by the Xiangyuan Holdings Group reached maturity at the end of November 2025, they were unable to pay investors back the principal and interest on time—meaning an overdue repayment occurred.

It is worth noting that at the end of October 2024, the business qualification for financial asset trading at Zhejiang Gold Center was revoked.

A public notice released by the Zhejiang Provincial Local Financial Administration stated that it would no longer retain the qualification for financial asset trading business of Zhejiang Financial Assets Exchange Center Co., Ltd. (“Zhejiang Gold Center”). “From the date of the issuance of this announcement, there will be no longer any financial asset trading venues in my province. After the cancellation of Zhejiang Gold Center’s financial asset trading business qualification, it does not affect the company’s legal obligations to properly assume the legal relationships it should undertake and it continues to assume the market entity responsibility for disposing of existing stock business; it does not affect existing business financing entities’ continued responsibility to fulfill obligations such as timely repayment in accordance with the contract.”

(Editor: Wen Jing)

Keywords:

                                                            Xiangyuan Group

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