Yu Faxiang, Actual Controller of the Xiangyuan Group, Subjected to Criminal Coercive Measures by Shaoxing Police

On the night of December 22, Yu Faxiang, the actual controller of the "Xiangyuan group" and a billionaire worth tens of billions of yuan, was subjected to criminal coercive measures by the Shaoxing Municipal Public Security Bureau on suspicion of committing a crime. The case is under investigation, and all three listed companies — Xiangyuan Culture and Tourism, Jiaojian Shares, and Haichang Ocean Park — have confirmed it in announcements.