Core Viewpoint - The article discusses the ongoing liquidity crisis of Zhejiang Jin Center, which has become a platform primarily for products from the Xiangyuan Group, raising questions about its operational integrity and the implications for investors [3]. Group 1: Company Background - Zhejiang Jin Center, formerly known as Zhejiang Financial Asset Trading Center Co., Ltd., has rebranded to Zhejiang Jin Asset Operation Co., Ltd. [3]. - The majority of products traded on Zhejiang Jin Center in recent years are from the Xiangyuan Group, with a reported transaction scale exceeding 12 billion yuan as of December 8 [3][4]. Group 2: Shareholder Dynamics - Key shareholders such as Ningbo Urban Construction Investment Group, Guoxin Hongsheng Private Fund Management, and Minsheng Real Estate have exited before the end of 2023, leaving Hangzhou Minzhi Investment Management Co., Ltd. as the largest shareholder with a 58.57% stake [3][4]. - Hangzhou Minzhi has had ties with the Xiangyuan Group since 2018, indicating a long-standing relationship between the two entities [4]. Group 3: Xiangyuan Group's Influence - The Xiangyuan Group has maintained control over various companies associated with Hangzhou Minzhi, with personnel consistently linked to the Xiangyuan Group holding key positions [6][7]. - The ownership structure of Anhui Xiangyu, a company closely tied to the Xiangyuan Group, has seen multiple changes, but it has remained under the influence of Xiangyuan personnel since its inception [6][7][8].

Core Viewpoint - The Zhejiang Financial Asset Trading Center, now known as Zhejiang Zhejin Asset Operation Co., Ltd., has become predominantly a platform for Xiangyuan Group's income rights products, raising questions about its role amid the ongoing repayment crisis involving Xiangyuan products [1] Group 1: Company Background - Zhejiang Financial Asset Trading Center has transitioned to Zhejiang Zhejin Asset Operation Co., Ltd. and has seen a significant shift in its product offerings, with over 12 billion yuan in Xiangyuan products traded as of December 8 [1] - The center's previous shareholders, including Ningbo Urban Construction Investment Group, Guoxin Hongsheng Private Fund Management, and Minsheng Real Estate, have all exited by the end of 2023, leaving Hangzhou Minzhi Investment Management Co., Ltd. as the largest shareholder with a 58.57% stake [1] Group 2: Shareholder Dynamics - Hangzhou Minzhi has had ties with Xiangyuan Group since 2018, with Xiangyuan previously being a shareholder [2] - In January 2019, Hangzhou Minzhi committed 1.2 billion yuan to become the largest shareholder of the Zhejiang Financial Asset Trading Center [3] - Anhui Xiangyu, a company with strong connections to Xiangyuan, has been under the control of Xiangyuan personnel since its establishment in 2017 [3] Group 3: Corporate Changes - Anhui Xiangyu underwent several ownership changes, with its shareholders consistently linked to Xiangyuan Group, including the transition to Hefei Tuzhan Trading Co., Ltd. in 2021 [4] - The ownership of Anhui Xiangyu shifted to Hefei Jiuwangtong Enterprise Management Consulting Co., Ltd. in 2024, with personnel changes still reflecting Xiangyuan's influence [4] - In September 2023, Anhui Xiangyu exited the shareholder list, replaced by Shanghai Lanyu Enterprise Management Co., Ltd., while a new collaboration between Xiangyuan and Hangzhou Minzhi began in June 2023 [5]

Group 1 - The "Xiangyuan system" has multiple income rights products that have not been redeemed, leading to ongoing concerns in the market [1] - On December 8, representatives from the Zhejiang Provincial Letters and Visits Office, Financial Office, and Zhejiang Financial Center met with investor representatives to address the situation [1] - Investors reported that the provincial office indicated that common demands would be compiled into a report for further action [1] Group 2 - On December 7, companies under the "Xiangyuan system," including Xiangyuan Cultural Tourism (600576.SH), Jiaojian Co., Ltd. (603815.SH), and Ocean Park Holdings (02255.HK), issued announcements regarding the "default" incident involving Xiangyuan Holdings and its actual controller [1] - Some investors have reported significant investment amounts, with one stating an investment exceeding 4 million yuan and another claiming an investment of 6 million yuan [1]

Group 1 - The "Xiangyuan system" has multiple income rights products that have not been redeemed, leading to ongoing concerns in the market [1] - On December 8, representatives from the Zhejiang Provincial Petition Office, Financial Office, Zhejiang Financial Center, and "Xiangyuan system" met with investor representatives to address concerns [1] - Investors reported that the Petition Office indicated that common demands would be compiled into a report for further action [1] Group 2 - On December 7, companies under the "Xiangyuan system," including Xiangyuan Cultural Tourism (600576.SH), Jiaojian Co., Ltd. (603815.SH), and Ocean Park Holdings (02255.HK), issued announcements regarding the "default" incident involving Xiangyuan Holdings and its actual controller [1] - Some investors have reported significant investments, with one stating an investment exceeding 4 million yuan and another claiming an investment of 6 million yuan [1]