Nan Fang Du Shi Bao·2025-12-12 07:17Core Viewpoint - The liquidity crisis faced by Xiangyuan Holdings Group and its subsidiaries has raised concerns about the risks associated with seemingly low-yield financial products, challenging the perception that low returns equate to low risk [1][3]. Group 1: Company Overview - Xiangyuan Holdings, founded in 1992, is a leading enterprise in the cultural tourism investment and operation sector, controlling listed companies such as Xiangyuan Cultural Tourism, Haichang Ocean Park, and Jiaojian Co [2]. - The company reported total assets of 60 billion and total liabilities exceeding 40 billion, indicating a significant financial strain as the real estate sector undergoes deep adjustments [2]. Group 2: Financial Product Issues - Approximately 2 to 3 financial products issued by Xiangyuan Holdings are currently overdue for payment, with expected yields of 4% to 5% [1][2]. - The overdue financial products are linked to real estate projects in collaboration with Xiangyuan Holdings, and the company and its actual controller bear joint guarantee responsibilities for these payment obligations [1]. Group 3: Market Context and Risks - The recent default incident has prompted investors to question the risk levels associated with financial products offering yields above 4%, as many such products may carry hidden risks [3]. - As of December 11, over 2,300 RMB bank wealth management products had performance benchmarks exceeding 4%, with only 15% achieving annualized returns above this threshold since inception [3]. Group 4: Investment Strategies - Investors are advised to be cautious of financial products with yields significantly above the prevailing market rates, as these may indicate higher risks or potential losses [5]. - It is essential for investors to thoroughly understand the characteristics of the financial products they intend to purchase, including asset allocation and historical performance, to assess their suitability in a changing market environment [5]. Group 5: Trust and Regulatory Changes - Many investors trusted the Zhejiang Financial Asset Trading Center (Zhejiang Jin Center) as a reliable platform, but recent changes in ownership and regulatory status have raised concerns about its credibility [6]. - The Zhejiang Provincial Financial Management Bureau announced the discontinuation of the financial asset trading business qualification for Zhejiang Jin Center, which has since been renamed Zhejiang Jin Asset Operation Co [6].