Core Viewpoint - Three listed companies, Xiangyuan Cultural Tourism, Jiaojian Co., and Haichang Ocean Park, announced that their actual controller, Yu Faxiang, has been taken into criminal custody by the Shaoxing Public Security Bureau due to suspected criminal activities, with investigations ongoing [1][3]. Group 1: Company Announcements - As of the announcement date, none of the three companies have received requests for assistance in the investigation, and their control has not changed, with normal production and operations continuing [3]. - The incident is a result of ongoing debt risks within the Xiangyuan Group, with financial products guaranteed by Xiangyuan Holdings and Yu Faxiang facing overdue payments totaling up to 20 billion yuan [3][5]. - On December 7, Xiangyuan Cultural Tourism and Jiaojian Co. issued statements clarifying that the overdue financial products are unrelated to the listed companies and that Yu Faxiang is responsible for the guarantees [3]. Group 2: Regulatory and Legal Actions - Following the debt crisis, regulatory authorities intervened, forming a working group to assist Xiangyuan Holdings and ensure normal operations while investigating the company's financial situation [5]. - The core equity of the Xiangyuan Group has been largely frozen, with Jiaojian Co. disclosing that shares held by its controlling shareholder and Yu Faxiang have been judicially frozen [6][8]. - Specific data shows that Xiangyuan Holdings holds 274.29 million shares of Jiaojian Co., accounting for 44.32% of the total share capital, with all shares frozen [7]. Group 3: Company Background and Current Status - Yu Faxiang, born in 1971, is the chairman of Xiangyuan Holdings, which controls three listed companies and has a net worth of 14.5 billion yuan, ranking 465th on the Hurun Rich List [8]. - Xiangyuan Holdings, founded in 1992, focuses on cultural tourism investment and operates over 50 projects, while also being involved in infrastructure and real estate [8]. - The three listed companies have emphasized their operational independence from the controlling shareholder, asserting no non-operational fund occupation or illegal guarantees exist [8].