Xu Xiang's Zexi Equity Investment Management Company's license has been revoked.

Tianyancha App shows that recently, Shanghai Zexi Equity Investment Management Co., Ltd. had its business license revoked by the Shanghai Municipal Market Supervision Administration for failing to commence business within six months of establishment without valid reasons, or for voluntarily suspending business for more than six consecutive months after operation. Shanghai Zexi Equity Investment Management Co., Ltd. was established in August 2015, with Xu Xiang as the legal representative, executive director, and general manager. It has a registered capital of 10 million yuan and its business scope includes equity investment management, investment management, asset management, industrial investment, investment consulting, enterprise consulting, and business information consulting. The company is jointly held by Zheng Suzhen and Xu Bailiang.