Bei Jing Shang Bao·2025-12-22 13:59Group 1 - Yu Faxiang, the actual controller of Jiangjian Co. and Xiangyuan Cultural Tourism, has been subjected to criminal coercive measures due to suspected criminal activities, prompting the Shanghai Stock Exchange to issue regulatory work letters to both companies regarding information disclosure requirements [1] - Jiangjian Co. and Xiangyuan Cultural Tourism announced that they received notifications from Yu Faxiang's family about his criminal investigation, which is currently ongoing [1] - Recent issues with financial products on the Zhejiang Financial Assets Exchange, particularly those related to the "Xiangyuan system," have raised significant market concerns, although both companies clarified that these financial products are unrelated to them or their subsidiaries [1] Group 2 - Jiangjian Co. disclosed that media reports regarding overdue payments on financial products linked to its controlling shareholder, Xiangyuan Holdings, have attracted investor attention [2] - As of December 16, Jiangjian Co. reported that 274 million circulating shares held by its controlling shareholder and Yu Faxiang have been subject to judicial freezing, while Xiangyuan Cultural Tourism reported that its controlling shareholder's shares have been fully frozen, amounting to 612 million shares, which is 58.08% of the company's total equity [2] - The judicial freezing includes 462 million shares under pending freezing and 207 million shares under judicial pledge, indicating significant financial distress for the controlling entities [2]