Anhui Gourgen Traffic Construction Co Ltd

Zhejiang Xiangyuan Cultural Tourism Co., Ltd. and Anhui Transport Construction Co., Ltd. both announced on October 9 that they had received notice from actual controller Yu Faxiang that day, stating he had received a case filing notice from the China Securities Regulatory Commission. Because Yu Faxiang is personally suspected of illegal information disclosure, the CSRC decided to place him on file. Both companies said that apart from being the actual controller, Yu Faxiang holds no position in either company, operations are normal, and the matter will not have a material impact on normal production and operations. Earlier, in December 2025, media reported that some financial asset income rights products traded on the Zhejiang Financial Assets Exchange platform failed to pay out at maturity, and the credit enhancers for the unpaid products were all Xiangyuan Holding Group Co., Ltd. and Yu Faxiang. On December 16 of the same month, Xiangyuan Cultural Tourism and Anhui Transport Construction announced that shares held by the actual controller, controlling shareholder and their concert parties had been judicially frozen and subject to pending freezes. On December 22, Xiangyuan Cultural Tourism, Anhui Transport Construction and Haichang Ocean Park simultaneously announced that Yu Faxiang had been subjected to criminal compulsory measures by the Shaoxing Municipal Public Security Bureau on suspicion of crimes. On January 21 this year, Haichang Ocean Park announced that Yu Faxiang had resigned as executive director, chairman of the board and chief executive officer. On July 6 this year, Xiangyuan Cultural Tourism announced that Zhejiang Tourism Investment Group Co., Ltd. had successfully bid in a judicial online auction for a total of 105,500,000 shares of Xiangyuan Cultural Tourism held by Anhui Xiangyuan, a concert party of the company's controlling shareholder Xiangyuan Tourism Development, for a total of 616.12 million yuan. Another announcement on October 9 showed that the transfer registration for those 105,500,000 unrestricted tradable shares had been completed, reducing Anhui Xiangyuan's holding to 111,331,958 shares, or 10.56 percent of total share capital, while the combined holding of Yu Faxiang, Xiangyuan Tourism Development and Anhui Xiangyuan fell to 506,933,915 shares, or 48.07 percent of total share capital. In the first half of this year, Xiangyuan Cultural Tourism reported revenue of about 555 million yuan, up 7.8 percent year on year, and net profit attributable to the parent of about 46.46 million yuan, down 47.22 percent year on year. During the Mid-Autumn Festival holiday, its scenic areas received 247,000 visitors, up 84.24 percent from 2024, and during the National Day holiday cumulative visitor numbers reached 1,084,400, with operating revenue of 61.7058 million yuan. As of the A-share close that day, Xiangyuan Cultural Tourism traded at 5.26 yuan per share, up 1.35 percent.

Jiaojian Co. has been sued by Jiangsu Zhongnan Construction Industry Group Co., Ltd. over a construction contract dispute, with the total amount involved at approximately 138 million yuan. The announcement shows the plaintiff is seeking an order for Jiaojian Co. and its Lai'an County branch to pay 127 million yuan in project payments plus overdue payment penalties, and the case has not yet had its first hearing. The company and its controlled subsidiaries have accumulated 93 undisclosed lawsuits and arbitrations over the past 12 consecutive months, with a total amount involved of about 220 million yuan, accounting for 14.51 percent of the most recent audited net assets. On July 29, the company had just disclosed four new lawsuits involving a combined 89.4251 million yuan, and in just over half a month the newly added amount involved has exceeded 227 million yuan. In the first quarter of 2026, the company's operating revenue was 634 million yuan, down 19.59 percent year on year, while net profit attributable to the parent company was 57.3537 million yuan, up 73.64 percent year on year.