Core Viewpoint - The article discusses the overdue payment crisis related to financial products issued by Zhejiang Financial Asset Trading Center (浙金中心), particularly involving the controlling shareholder of Jiaojian Co., Ltd. (交建股份) and its actual controller [2][4][6]. Group 1: Company Response - Jiaojian Co., Ltd. announced that it has verified the media reports regarding overdue financial products linked to its controlling shareholder, Xiangyuan Holdings (祥源控股), and the actual controller's joint guarantee responsibility [4]. - The company clarified that the overdue financial products are unrelated to Jiaojian Co., Ltd. or its subsidiaries, and the company does not bear any repayment or guarantee obligations for these products [4][11]. - The management of Jiaojian Co., Ltd. assured that all operations are normal and committed to maintaining independence from its controlling shareholder in various aspects [4]. Group 2: Background of the Crisis - The overdue payment issue is specifically tied to the financial products sold on the Zhejiang Financial Asset Trading Center platform, which were backed by Xiangyuan Holdings [6][11]. - Investors had purchased certain "income rights products" through the Zhejiang Financial Asset Trading Center, expecting returns of approximately 4% to 5% [11]. - A batch of financial products guaranteed by Xiangyuan Holdings failed to repay principal and interest to investors after maturing at the end of November 2025 [11]. Group 3: Regulatory Changes - On October 31, 2024, the Zhejiang Provincial Local Financial Administration announced the cancellation of the financial asset trading business qualifications of the Zhejiang Financial Asset Trading Center [12]. - The cancellation does not affect the company's legal responsibilities and obligations regarding existing business and repayment commitments [12].
突发“爆雷”!无法兑付!