Core Viewpoint - Xiangyuan Cultural Tourism (SH600576) announced that its actual controller is responsible for the joint guarantee of financial products that have experienced partial overdue payments, which has attracted investor attention. The company clarified that it is not liable for any repayment or guarantee obligations related to these financial products [1][2]. Group 1: Company Clarification - The overdue financial products are related to real estate projects in cooperation with Xiangyuan Holdings, and the actual controller is in communication with relevant parties regarding the overdue situation [1]. - Xiangyuan Cultural Tourism is not involved in the overdue financial products and has not provided any guarantees or enhancements for any financial investment products [1]. - The company's operations are currently normal, and management has committed to ensuring independence from the controlling shareholder in various aspects [1]. Group 2: Background Information - Xiangyuan Holdings, founded in 1992 and based in Shaoxing, Zhejiang, is a leading enterprise in the cultural tourism industry, with over 50 cultural tourism projects across 17 provinces and cities in China [2]. - The company has three main business segments: cultural tourism, infrastructure, and real estate, with its real estate segment being among the top ten in China [2]. - As of December 6, reports indicated that some financial asset income products issued by Xiangyuan Holdings had not been repaid [2][3]. Group 3: Financial Context - The overdue products consist of approximately 2 to 3 types, with investor returns on these products ranging from 4% to 5%, while the company's financing costs are around 8% to 9% [3]. - The Zhejiang Financial Asset Trading Center, where these financial products were traded, had its financial asset trading business qualifications revoked as of October 2024, which may impact the resolution of these overdue payments [4][6].