Zhongjuxin to Inject 100M Yuan into Associate Jingheng Xidao

The dilution from 44.75% to just under 37% is the tell: Zhongjuxin is funding growth without taking control, so Jingheng Xidao stays off its consolidated books and its losses or gains flow through as associate results rather than full operations. The larger external tranche, bigger than Zhongjuxin's own commitment, suggests the round was anchored by outside money rather than a single sponsor. Whether Jingheng Xidao's next capital raise follows the same pattern, and whether Zhongjuxin's stake keeps drifting toward the threshold where associate accounting gets re-examined, is the open question.