Group 1 - The news reports that certain financial asset income rights products traded on the Zhejiang Financial Asset Exchange have failed to mature and be redeemed [1] - The guarantor for the unpaid financial products is Xiangyuan Holdings Group Co., Ltd. and its legal representative Yu Faxiang [1] - Xiangyuan Holdings, founded in 1992 and based in Shaoxing, Zhejiang, is a leading enterprise in the cultural tourism industry, with investments in over 50 cultural tourism projects [1] Group 2 - Xiangyuan Cultural Tourism announced on December 7 that there are overdue redemption situations related to financial products issued in cooperation with Xiangyuan Holdings' real estate projects [4] - Xiangyuan Holdings and its actual controller are responsible for the redemption obligations, while the overdue financial products are unrelated to Xiangyuan Cultural Tourism and its subsidiaries [4] - Similarly, Haichang Ocean Park and Jiaojian Co., Ltd. confirmed the existence of overdue redemption situations related to the same financial products, with no obligations for redemption or guarantees from their side [4]

Core Viewpoint - The announcement from Xiangyuan Culture and Tourism clarifies that the overdue financial products are related to its controlling shareholder, Xiangyuan Holdings, and that the company itself is not liable for any repayment obligations [1][4]. Group 1: Company Response - Xiangyuan Culture and Tourism confirmed that there are overdue payments on financial products issued on a platform related to real estate projects with Xiangyuan Holdings, which bears joint guarantee responsibility [1][5]. - The company stated that the overdue financial products are unrelated to Xiangyuan Culture and Tourism and its subsidiaries, and the company does not bear any repayment or guarantee obligations [1][5]. - The company's operations are currently normal, and management has committed to maintaining independence from its controlling shareholder in various aspects [1][5]. Group 2: Industry Context - Other companies, such as Jiaojian Co. and Haichang Ocean Park, have also issued announcements regarding the situation [2]. - The Zhejiang Financial Assets Trading Center's financial asset trading qualifications were revoked as of October 2024, indicating a significant regulatory change in the industry [3]. - The Zhejiang Provincial Financial Management Bureau announced that there will no longer be financial asset trading venues in the province, although existing legal responsibilities will still be upheld [3].

Core Viewpoint - The company, Haichang Ocean Park, has issued a statement regarding media reports about overdue payments related to financial products linked to its controlling shareholder, Xiangyuan Holdings Group. The company aims to clarify the situation to prevent misinformation and protect investor rights [1]. Group 1 - The financial products in question, associated with real estate projects of Xiangyuan Holdings, have experienced some overdue payments, for which Xiangyuan Holdings and the actual controller of the company bear joint guarantee responsibilities [1]. - Xiangyuan Holdings and the actual controller are currently in communication with relevant parties to address the specifics of the overdue payments [1]. - The financial products involved are unrelated to the group and its shares, and the group does not bear any payment or guarantee obligations for these products, nor has it provided any credit enhancement for their repayment [1]. Group 2 - The group's current production and operations are reported to be normal [1].

Core Viewpoint - The "Xiangyuan System" financial product overdue event is escalating, prompting urgent responses from three listed companies under its umbrella to clarify their positions and dissociate from the issue [1][4][18]. Group 1: Company Responses - Xiangyuan Cultural Tourism announced that media reports regarding overdue payments of financial products linked to its indirect controlling shareholder, Xiangyuan Holdings, have raised investor concerns [1][13]. - The company confirmed that the overdue financial products are related to real estate cooperation projects with Xiangyuan Holdings, which bears joint guarantee responsibility for the payment obligations [1][21]. - Xiangyuan Cultural Tourism stated that it is not responsible for any payment or guarantee obligations related to these financial products and that its operations remain normal [1][8][22]. Group 2: Other Companies' Announcements - Two other listed companies under Xiangyuan Holdings, namely Anhui Transportation Construction and Haichang Ocean Park, issued similar announcements to clarify their non-involvement in the overdue financial products [4][18]. - Both companies confirmed that the financial products in question do not relate to their operations and that they have not provided any guarantees or credit enhancements for these products [6][21]. - All three companies emphasized their commitment to maintaining operational independence from their controlling shareholders and ensuring compliance with corporate governance standards [8][22]. Group 3: Context of the Overdue Event - The overdue event pertains to financial products sold on the Zhejiang Financial Asset Trading Center platform, which have failed to pay back principal and interest to investors as expected [11][25]. - The Zhejiang Financial Asset Trading Center's business qualifications were revoked in October 2024, which has implications for the handling of existing financial obligations [11][25][26]. - Investors had anticipated returns of approximately 4% to 5% from these products, which were backed by Xiangyuan Holdings [11][25].

Core Viewpoint - The financial product overdue incident related to the "Xiangyuan System" continues to escalate, prompting three listed companies under Xiangyuan to issue urgent announcements to distance themselves from the situation [1][3]. Group 1: Company Announcements - Xiangyuan Cultural Tourism announced that there are reports regarding overdue payments on financial products linked to its indirect controlling shareholder, Xiangyuan Holdings, which has raised investor concerns [1]. - The company confirmed that the overdue financial products are unrelated to Xiangyuan Cultural Tourism and its subsidiaries, and it does not bear any repayment or guarantee obligations [1][5][6]. - The company reassured that its operations are normal and committed to maintaining independence from its controlling shareholder in various aspects [1][7]. Group 2: Related Companies - Two other listed companies under Xiangyuan Holdings, namely Jiaojian Co. and Haichang Ocean Park, issued similar announcements clarifying their non-involvement in the overdue financial products [3][5][6]. - All three companies emphasized that the financial products in question are linked to a project involving Xiangyuan Holdings and that they are not responsible for any repayment or guarantees [5][6][7]. Group 3: Financial Product Context - The overdue incident pertains to financial products sold on the Zhejiang Financial Asset Trading Center platform, which have failed to meet repayment obligations [7][10]. - The Zhejiang Financial Asset Trading Center's business qualifications were revoked, and it no longer exists as a financial asset trading venue, which may impact the resolution of outstanding obligations [10][11].

Core Viewpoint - The "Xiangyuan System" financial product overdue event has led to urgent responses from three listed companies under its umbrella, aiming to clarify their non-involvement in the overdue payments and protect investor interests [2][4][10]. Group 1: Company Responses - Xiangyuan Cultural Tourism announced that media reports regarding overdue financial products linked to its indirect controlling shareholder, Xiangyuan Holdings, have raised investor concerns [2][4]. - The company confirmed that the overdue financial products are related to real estate projects in collaboration with Xiangyuan Holdings, which bears joint guarantee responsibility for the payment obligations [4][10]. - Xiangyuan Cultural Tourism stated that it is not responsible for any payment or guarantee obligations related to these financial products, and its operations remain normal [4][10]. Group 2: Related Companies - Two other listed companies under Xiangyuan Holdings, namely Jiaojian Co. and Haichang Ocean Park, issued similar announcements to clarify their non-involvement in the overdue financial products [7][9]. - Both companies confirmed that the overdue financial products do not relate to their operations and that they do not bear any payment or guarantee obligations [9][10]. Group 3: Financial Product Context - The overdue event pertains to financial products sold on the Zhejiang Financial Asset Trading Center platform, which have failed to pay back principal and interest to investors as expected [12][15]. - The Zhejiang Financial Asset Trading Center's financial asset trading business qualification was revoked in October 2024, which has implications for the handling of existing financial obligations [15][16].

Core Viewpoint - The "Xiangyuan System" financial product overdue incident has led to urgent responses from three listed companies under its umbrella, aiming to clarify their non-involvement in the overdue payments and protect investor interests [2][3][5]. Group 1: Company Responses - Xiangyuan Cultural Tourism announced that media reports regarding overdue payments related to financial products guaranteed by its indirect controlling shareholder, Xiangyuan Holdings, have raised investor concerns [2][5]. - The company confirmed that the overdue financial products are unrelated to Xiangyuan Cultural Tourism and its subsidiaries, and it does not bear any repayment or guarantee obligations [3][5]. - The management assured that the company's operations are normal and committed to maintaining independence from its controlling shareholder in various aspects [3][5][12]. Group 2: Related Companies - Two other listed companies under Xiangyuan Holdings, namely Jiaojian Co. and Haichang Ocean Park, issued similar announcements to clarify their non-involvement in the overdue financial products [8][10][11]. - All three companies emphasized that the overdue financial products are linked to a real estate cooperation project involving Xiangyuan Holdings and are not associated with their operations [10][11][12]. Group 3: Financial Product Context - The overdue incident pertains to financial products issued on the Zhejiang Financial Asset Trading Center platform, which have failed to pay back principal and interest to investors as expected [13][15]. - The Zhejiang Financial Asset Trading Center's financial asset trading business qualification was revoked in October 2024, which may impact the handling of existing financial obligations [16].

Core Viewpoint - Zhejiang Xiangyuan Cultural Tourism Co., Ltd. clarifies that it is not responsible for the overdue payment of financial products related to its indirect controlling shareholder, Xiangyuan Holding Group, which is currently addressing the situation with relevant parties [1] Group 1 - The announcement states that there are overdue payments on financial products issued on a platform related to real estate projects in cooperation with Xiangyuan Holding [1] - Xiangyuan Holding and the actual controller of the company are taking joint guarantee responsibility for the overdue payment obligations [1] - The financial products in question are unrelated to Xiangyuan Cultural Tourism and its subsidiaries, and the company does not bear any payment or guarantee obligations [1] Group 2 - The company's operations are currently running normally, and the management has committed to adhering to the "Guidelines for the Governance of Listed Companies" to ensure independence from the controlling shareholder in various aspects [1]

Core Viewpoint - The company announced that its controlling shareholder, Xiangyuan Holdings, and the actual controller are facing overdue payments on certain financial products, but the company itself is not liable for any repayment or guarantees related to these products [1] Group 1 - The financial products in question are unrelated to the company and its subsidiaries [1] - The company is currently operating normally and has assured that it will maintain independence from its controlling shareholder and actual controller in all aspects [1] - Xiangyuan Holdings and the actual controller are in communication with relevant parties to address the overdue payments [1]