Thunderstorm 20 billion! Yu Faxiang, a Big Man of Ten Billion Zhejiang Businessmen and the Actual Controller of Jiaotong Construction Shares, Was Controlled!

2025-12-23 10:05:54

On the evening of December 22, three listed companies, Xiangyuan Wenlu (600576. Sh), Jiaotong Construction Stock (603815. Sh) and Haichang Ocean Park (02255. HK), issued heavy announcements simultaneously, disclosing that Yu Faxiang, the actual controller of the company, had been taken criminal compulsory measures by Shaoxing Public Security Bureau for suspected crimes, and related cases were under investigation.

On the evening of

December 22, three listed companies, Xiangyuan Wenlu (600576. The relevant cases are under investigation.

The announcement shows that as of the disclosure date, none of the three listed companies has received any notice from the relevant authorities requesting assistance in the investigation, the control rights of the company have not changed, the production and operation are normal, and the above matters have not yet had a significant impact on the normal production and operation of the company.

Since November 28, on the platform of Zhejiang Zhejin Asset Operation Co., Ltd. (Formerly Zhejiang Financial Asset Exchange Center, hereinafter referred to as "Zhejin Center"), a number of financial asset income rights products guaranteed by Xiangyuan Holdings and Yu Faxiang with joint and several liabilit y have been unable to pay or pay their earnings at maturity. The scale involved is as high as 20 billion yuan. At that time, Shen Baoshan, CEO of Xiangyuan Holdings, responded that there were about 2 to 3 outstanding products due, and the relevant parties were actively communicating and dealing with them.

On December 7, two listed companies of Xiangyuan Wenlu Group, Xiangyuan Wenlu and Jiaotong Construction Co., Ltd., quickly issued announcements in response to online rumors, emphasizing that the related products have nothing to do with listed companies and do not assume guarantee liabilit y. At the same time, it mentioned that the actual controller Yu Faxiang's financial products with joint and several guarantee liability were partly overdue, and said that Xiangyuan Holdings and the company's actual controllers were communicating with the relevant parties on the specific situation of overdue payment. According to the

announcement, the controlling shareholder Xiangyuan Holdings holds 274 million shares of the company, accounting for 44.32% of the total equity, of which 45.2433 million shares are judicially frozen by the Shanghai Financial Court, 27.43 million shares are in the state of judicially frozen pledge, 202 million shares are judicially marked, and 274 million shares are waiting for freezing in full. The applicant for freezing is Shaoxing Public Security Bureau for a period of 6 months. According to

public information, Yu Faxiang was born in Shengzhou, Zhejiang Province in 1971. He is currently the chairman of Xiangyuan Holding Group. He controls three listed companies, namely, Xiangyuan Wenlu, Jiaotong Construction Stock and Haichang Ocean Park. In October 2025, he ranked 465th in Hurun 100 Rich List with a net worth of 14.5 billion yuan.

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On the evening of December 22, three listed companies, Xiangyuan Wenlu (600576. Sh), Jiaotong Construction Stock (603815. Sh) and Haichang Ocean Park (02255. HK), issued heavy announcements simultaneously, disclosing that Yu Faxiang, the actual controller of the company, had been taken criminal compulsory measures by Shaoxing Public Security Bureau for suspected crimes, and related cases were under investigation.

2025-12-23 10:05:54

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