“祥源系”超百亿元金融产品陷兑付危机，实控人俞发祥被采取刑事强制措施

Core Viewpoint - The "Xiangyuan System" is facing a liquidity crisis with over 10 billion yuan in financial products reported to be overdue for redemption, leading to police intervention and the detention of the actual controller, Yu Faxiang [1][3][9]. Group 1: Company Overview - Xiangyuan Holding Group, under Yu Faxiang, has two publicly listed companies: Xiangyuan Cultural Tourism and Jiaojian Co., which announced that Yu Faxiang is under criminal detention by the Shaoxing Public Security Bureau [1][5]. - Yu Faxiang, born in 1971, is the chairman of Xiangyuan Holding and has a significant stake in multiple listed companies, including Haichang Ocean Park, which he acquired for 2.295 billion HKD [5][6]. Group 2: Financial Crisis Details - In mid-October, financial products related to the Xiangyuan System were reported to be overdue, with Xiangyuan Holding admitting to liquidity issues in early December [3][9]. - The overdue financial products are estimated to exceed 10 billion yuan, with investors expressing concerns about the company's ability to liquidate assets for redemption and the high management fees charged by the Zhejiang Financial Asset Trading Center [3][9]. Group 3: Company Operations and Impact - Despite the legal issues surrounding Yu Faxiang, both Xiangyuan Cultural Tourism and Jiaojian Co. stated that their operations remain normal and that there has been no significant impact on their business [5][11]. - The total assets of Xiangyuan Holding are reported to be 60 billion yuan, with liabilities exceeding 40 billion yuan, exacerbated by a downturn in the real estate market and the cancellation of the trading qualifications of the Zhejiang Financial Asset Trading Center [10].