Xu Xiang stepped down as the legal representative of Zexi Investment.

Tianyan information shows that on August 28, Shanghai Zexi Investment Management Co., Ltd. (referred to as "Zexi Investment") experienced industrial and commercial changes: Xu Xiang no longer served as the legal representative and general manager, and Zheng Suzhen took over. At the same time, the company's business scope to remove industrial investment.

Zexi Investment was established in December 2009 with a registered capital of 50 million RMB, with Zheng Suzhen (Xu Xiang's mother), Xu Xiang and Xu Bailiang (Xu Xiang's father) holding 55.2 percent, 40 percent and 4.8 percent of the shares respectively.

At present, Xu Xiang is associated with 4 companies, 3 of which are in existence. In addition to Zexi Investment, it also includes Shanghai Zexi Equity Investment Management Co., Ltd. and Zexi Investment Management Co., Ltd. Beijing Branch.

Xu Xiang was once known as the "private placement brother" in the industry. According to the official microblog of Qingdao intermediate people's court, in January 2017, Xu Xiang was sentenced to five years and six months in prison for manipulating the securities market. According to Xu Xiang's wife Ying Ying's personal microblog, Xu Xiang was fined 11 billion yuan, while about 21 billion yuan of family property was seized, seized and frozen by judicial authorities.

Recently, Xu Xiang and the "Zexi system" have become active again, and related "concept stocks" have once again entered the market.

Wind data shows that as of June 30, 2023, the Xu Xiang family appeared among the top ten shareholders of 6 listed companies, namely Daheng Technology (600288), Ningbo Zhongbai (600857), and Wenfeng Shares (601010), Minglida (301268), Huali Family (600503) and Kangqiang Electronics (002119).

Among them, Ningbo Zhongbai and Daheng Technology actively participated in a number of listed companies to increase.

in April 2022, Ningbo zhongbai and daheng technology also participated in the fixed increase of the clenny test (300887). among them, Ningbo zhongbai invested 0.1 billion yuan to subscribe for 1.8083 million shares and daheng technology invested 0.15 billion yuan to subscribe for 2.7125 million shares.

On March 15 this year, Daheng Technology issued an announcement stating that the company sold its shares in the Cuni test through a centralized bidding transaction in the secondary market from February 16 to March 15, 2023, and sold a total of 4.8834 million shares. The total transaction amount is 0.179 billion yuan. Following this sale, the Company no longer holds shares in the Cleney Test. Ningbo Zhongbai also liquidated 3.255 million shares of Cleni Test at the same time, with a total transaction amount of 0.114 billion yuan.

shortly thereafter, Ningbo zhongbai subscribed for a fixed increase of 2.592 million shares of kexiang shares (300903) for 50 million yuan. On January 31 this year, Ningbo Zhongbai announced that it would spend 0.2 billion yuan to participate in the private placement of energy technology (688063) and subscribe for 802400 shares. In November 2022, Daheng Technology invested 0.11 billion yuan to participate in the private placement of Nanwang Energy Storage (600995), subscribing for 8.67 million shares.

And the events surrounding the gorgeous family are even more dramatic.

in May this year, according to the Securities Daily, there were market rumors that Xu Xiang was dissatisfied with the fundamentals of the gorgeous family. In an interview with the Securities Daily, Xu Xiang said that it is necessary to exercise the rights of the two shareholders and supervise the development of listed companies in a good direction. "Otherwise, after the screening work of the Qingdao Intermediate People's Court is completed, the market value of the stocks I hold will shrink, which is not conducive to Repayment and other related operations".

on may 17, the gorgeous family held the 2022 annual general meeting of shareholders. none of the 21 bills voted on that day were passed.

what makes "Xu Xiang concept stock" once again attract market attention is that on the evening of August 21, wenfeng shares announced that in October 2021, the company's wholly-owned subsidiary spent 0.2 billion yuan to subscribe for Shoupu industry preferred private equity fund 1 (hereinafter referred to as "Shoupu preferred 1"), but as of April 2022, the net value of Shoupu preferred 1 unit fell to 0.1319 yuan, the loss exceeded 10% of the company's most recent audited net profit.

In the 2022 semi-annual report, Wenfeng shares recognized the fair value of the investment as of June 30, 2022 as zero, affecting the company's net profit of 0.202 billion yuan. As Wenfeng shares did not find this investment loss in time and disclosed it in a timely manner, it was issued a warning letter by the Jiangsu Securities Regulatory Bureau.