Core Viewpoint - The trust in "Zhejiang Financial Asset Trading Center" (now "Zhejiang Zhejin Asset Operation Co., Ltd.") has collapsed after the "Xiangyuan System" products faced a crisis, leading investors to realize the risks associated with their investments [1][8]. Group 1: Company Background - Zhejiang Zhejin Asset Operation Co., Ltd. was established in December 2013 and initially had a strong state-owned background, which attracted investors due to perceived stability and government support [8]. - The company has undergone significant changes, with state-owned shareholders withdrawing and private enterprises, such as Hangzhou Minzhi Investment Management Co., becoming the largest shareholder [8][10]. Group 2: Investor Experience - Many investors, including those who invested millions, believed in the stability of the platform due to its state-owned background and were unaware that most products were from the "Xiangyuan System" [2][4]. - Investors reported that the expected annual returns for "Xiangyuan System" products ranged from 4.4% to 5.1%, with some products already overdue for payment [3][4]. Group 3: Product and Risk Awareness - The majority of products on the platform are linked to the "Xiangyuan System," with over 90% of the products being from this source, amounting to a trading scale exceeding 12 billion yuan [11]. - Investors expressed a sense of being in a "boiling frog" situation, where they did not notice the gradual changes in the company's operations and ownership structure, leading to a lack of awareness regarding the risks involved [3][4].

Group 1 - The core viewpoint of the article highlights that the "Xiangyuan system" products traded at the Zhejiang Financial Asset Exchange have exceeded a transaction scale of over 10 billion yuan as of December 8, indicating significant investor interest despite recent defaults [1] - Several "Xiangyuan system" yield rights products have defaulted, primarily traded at the Zhejiang Financial Asset Exchange [1] - An investor reported an investment of 6 million yuan across 13 products, all guaranteed by the "Xiangyuan system," with one product named "Financial Asset Yield Rights (Wanjie Changxing)" having defaulted on its payment due on December 1 [1] Group 2 - The product description indicates that the trading institution is Changxing Wanjie Investment Partnership, with credit enhancement provided by Xiangyuan Holdings Group and Yu Faxiang, and the underlying asset consists of a factoring financing debt right valued at 50 million yuan [1] - The product is structured to pay interest every six months [1]