Zhang’s Gold Coast appearance calms industry nerves

The arrival of Yulong’s Zhang Yuesheng on the Gold Coast ahead of this week’s Magic Millions has prompted a sigh of relief from broad sections of the Australian thoroughbred industry.

Zhang arrived at Magic Millions’ Bundall complex on Sunday and was pictured inspecting yearlings ahead of the sale which starts on Tuesday.

The Yulong supremo’s whereabouts has been the centre of much conjecture over the past few months as he missed the entire spring carnival as well as the two-year-old sales season.

The rumour mill went into overdrive, with the speculation such that Yulong was forced to clarify on several occasions that Zhang was back in China on business and would return to Australia in early 2026 to attend the Magic Millions sale.

Jun Zhang, Zhang’s son-in-law and Yulong’s general manager, sent out a text message to industry participants in October to hose down any suggestions that his father-in-law had been detained in China.

“I just wanted to take a moment to address the recent rumours about Yulong, they’re completely untrue,” Jun wrote in the text.

“Thank you all for your concern and support. I’m sorry this kind of talk has been circulating and causing some unnecessary distraction. Let’s stay focused on what really matters, which is enjoying the racing season and continuing the great work we’re all doing together.”

The largest investor in the Australian thoroughbred industry over the past decade, Zhang, who made his fortune through myriad commercial interests including mining, has courted intrigue at almost every step.

He has built Australia’s largest and strongest broodmare band of over 600 mares and Yulong has also become a dominant owner

Yulong presents a draft of 69 horses at this year’s Gold Coast sales.

His investment and influence in Australia has grown so fast that he is seen as almost ‘too big to fail’ by the Australian thoroughbred industry.

Yulong has undergone several major changes in its global strategy in the past 12 months, including Jun’s elevation to the role in charge of the Australian operation after the sudden exit of Vin Cox last year.

Jun Zhang is married to Zhang Yuesheng’s eldest daughter April.

Earlier this month, horses that have raced under Zhang’s Yulong Investments banner across Europe were transferred to a new ownership brand.

They will also be seen in a new set of silks – white with green and white checked sleeves, and green cap.

The colours will be registered to Forz Europe, the racing spinoff of Ace Stud that was known as Dullingham Park before Zhang acquired the famous Newmarket farm almost a year ago.

The farm, which stands Shaquille and Soldier’s Call, is managed by Zhang’s son-in-law Harris Li.

Ace Stud and Forz Europe are controlled by Zhang’s daughter, Yuefang Zhang.