On September 25, the Shanghai Clearing House issued an announcement stating that the 1 billion yuan "17 Xinguang Holdings CP001" issued by Xinguang Holdings Group expired on the same day, but only received part of the principal and all interest of the short-term financing bond; i

Xinguang Group 's cowhide was finally blown out.

On September 25, the Shanghai Clearing House issued an announcement stating that the 1 billion yuan "17 Xinguang Holdings CP001" issued by Xinguang Holdings Group expired on the same day, but only received part of the principal and all interest of the short-term financing bond; in addition, Xinguang Holdings also had a rebate payment plan on the corporate bond "15 Xinguang 01", but Xinguang Holdings did not pay the rebate amount as previously announced. Therefore, both bonds of Xinguang Holdings defaulted on the same day.

At present, Xinguang Holdings has 12 surviving bonds in the interbank and exchange markets, with a total of 11.012 billion yuan in expiration scale, of which 11 of which are worth more than 180%, which means that the market has very little recognition of the value of these bonds.

In fact, as early as 2 years ago, Zhejiang Stock Exchange had made public reminders on Xinguang's debt problems.

On April 26, 2016, Xinguang Yuancheng was launched. On the same day, Zhejiang Stock Exchange released a teasing article: " Zhou Xiaoguang : Speech at the listing ceremony of Xinguang Yuancheng", which was complained and deleted by Xinguang Group.

Dear leaders, intermediary agencies, and major financial media: Good morning everyone.

Today is an epoch-making day for Xinguang Group. With everyone's concern and support, after so many years of hardship, Xinguang Real Estate finally went public through a backdoor!

Thank you to the China Securities Regulatory Commission, thank you to the Shenzhen Stock Exchange, thank you to the Yiwu City government, and especially thank you to the selfless dedication of the shareholders of the country!

Because of you, today, Zhou Xiaoguang, I was finally saved!

At this moment, I feel a lot of emotion.

Xinguang Group headquarters is in Yiwu , but I am from Zhuji, and my husband Yu Yunxin is from Dongyang. I was born in Zhou Village, Lingbei, Zhuji. I have 6 brothers and sisters and my family is very poor. In order to make a living, I went to set up stalls alone at the age of 16. For a full seven years, I have traveled to most of China with a map of China, suffering hardships and often crying alone.

In 1985, I married my husband who also sells embroidery patterns. After that, I settled in Yiwu and gradually got my own stalls and stores, focusing on managing accessories.

Ten years later, Xinguang Jewelry Co., Ltd. was established in Yiwu and is now a leading enterprise in the domestic jewelry industry. The company name "Xinguang" comes from the name of our husband and wife.

I was so excited that I was a little far away. Although I started with jewelry, what I went public through backdoors today is not the main business jewelry of Xinguang Group, but the real estate business - Wanxia Real Estate and Xinguang Building Materials City. Both companies were founded in 2003, one in Yiwu and the other in Dongyang , with business and popularity basically limited to Jinhua region.

Xinguang Group is an enterprise group integrating jewelry, agriculture, real estate, investment, commerce and other diversified businesses. Why just use real estate business to go public?

is hard to describe.

In recent years, Xinguang's real estate has been having a hard time. There are many rumors in the market, and some professional media have also paid attention to Xinguang Group's capital chain issues many times. I am not afraid of everyone making jokes. Once I was interviewed by a female reporter, I couldn't help but cry.

More than 20 years of starting a business, Xinguang has always been supported and recognized by leaders at all levels. I have been elected as a representative of the Yiwu Municipal People's Congress, Jinhua Municipal People's Congress, and a representative of the 10th and 11th National People's Congress. However, the scenery is superficial, and only I know the pressure behind it - friends in Yiwu and Dongyang must also know some of it.

Of course, these difficulties are not visible in financial statements. Thanks to the appraisal agency Zhongtongcheng, who has been plucking up the courage to value Xinguang Real Estate with a valuation of over 10 billion yuan - Wanxia Real Estate with a 5.986 billion yuan and Xinguang Building Materials City with a premium of 3.4 times and 7.7 times respectively, with a total valuation of 11.186 billion yuan. Both companies are wholly owned by us. According to this valuation, our couple is the richest man in Yiwu.

Here I would like to thank all the shareholders of the original Fangyuan to support for their willingness to buy our real estate business at such a high price. Of course, the one who needs to be thanked the most is naturally the members of the China Securities Regulatory Commission’s Mergers and Acquisitions Committee.

A shares are a place where stones turn into gold and create miracles. At this moment when Xinguang Group regained its vitality, on behalf of Xinguang Group, I would like to express my most sincere thanks to every participant for his sincere efforts!

Xinguang Real Estate went through a very tortuous journey. We originally planned to take control of Zhongbai Group in Wuhan to inject assets, but were attacked by the Wuhan State-owned Assets Supervision and Administration Commission and eventually failed.

Because of illegal trading of Zhongbai Group's stocks, in November 2012 and August 2014, Xinguang Group's securities account was twice subject to trading restrictions by the Shenzhen Stock Exchange. Until now, Xinguang Group still holds 6.23% of Zhongbai Group's shares. Because of this investment, Shinguang has been carrying a huge financial burden in recent years.

Later, we cooperated with Deyang, Sichuan to prepare to take the backdoor of *ST Jinlu, a subsidiary of Liu Han. The restructuring plan has been announced. Unfortunately, at the critical moment, the local government changed its term, and the chairman, secretary of the board of directors, and the insurance agent of *ST Jinlu were taken away, and the backdoor acquisition was ruined.

There is no way. On December 1, 2015, we were forced to sign an agreement to terminate the asset restructuring with *ST Jinlu. Many friends think that we have no chance to take back the bank, including banks, and various telephone inquiries are coming one after another.

Fortunately, the leaders and friends helped. On December 26, we signed an agreement with Fangyuan Support on Firewire and instead adopted Fangyuan Support.

On January 12, 2016, the restructuring plan was announced, and Fangyuan, which had suspended trading in for more than half a year, resumed trading. It passed the review of the China Securities Regulatory Commission in just half a month. The speed is so fast that many industry insiders are surprised.

That day was January 27, and Fangyuan Cheng, Weixing Co., Ltd. , and Sublimation Byke 3 stocks were reorganized and they all came to the meeting. This naivety is really overwhelming. Sublimation Byk was rejected directly. We and Weixing Co., Ltd. both have the conditions to pass. The meaning of conditional approval is that although we have passed, there are still a lot of questions to be answered - we are almost walking on the cliff.

Only by enduring all the hardships can you become the best.

Fortunately, Xinguang Real Estate successfully acquired a backdoor today, and Fangyuan Support was also renamed Xinguang Yuancheng. Xinguang Group and my husband will hold 79% of the company's shares and achieve absolute control.

According to the restructuring plan, Xinguang Yuancheng will raise 3.2 billion yuan of funds to be used for the needs and supplementary working capital for projects such as Yiwu World Trade Center, Qiandaohu Crown Holiday Hotel and Annex Building, Xinguang Tiandi Phase III and other projects. As a wholly-owned subsidiary of Shin Kong Yuancheng, Wanxia Real Estate and Shin Kong Building Materials City no longer have to worry about funding issues.

Of course, the successful backdoor acquisition is just the first step that has been completed.

In order to go public through backdoor listing, we promise that the cumulative net profit of Wanxia Real Estate and Xinguang Building Materials City from 2016 to 2018 will not be less than 4 billion yuan. This is a nearly impossible task to complete . The real estate situation is like this, so I can only ask everyone to buy more houses in Xinguang. If the house cannot be sold, Xinguangyuan will show its true form - but it doesn't matter. Once the stock with a market value of more than 10 billion yuan is mortgaged, all holes will be filled.

Friends, is the A-share market that saved Xinguang Real Estate, and related banks, as well as friends who have financial transactions with Xinguang. Tonight, let us raise our glasses to celebrate, never stop drunk!

Thank you for witnessing the reorganization and name change ceremony of Xinguang Yuancheng, thank you everyone!

Ironically, Xinguang Group defaulted on its debt, but Xinguang Yuancheng, which was suspended, still has a valuation of 26.9 billion.