*ST Panda: Company Stock Has Risen Significantly in the Short Term, Suspension Starting Tomorrow for No More Than 5 Trading Days

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(Source: Caixin)

The company faces the risk of being forcibly delisted due to relevant financial indicators reaching the delisting threshold for two consecutive fiscal years. Matters related to the previous internal control negative opinion are still under rectification.

On March 19, *ST Panda (Rights Protection) (600599.SH) announced that due to a significant short-term increase in the company’s stock price, trading was suspended for investigation.

Since March 10, 2026, the company’s stock price has risen sharply for eight consecutive trading days, hitting abnormal trading fluctuations twice, with large price swings. Investors are paying close attention. To protect investors’ interests, the company will investigate the trading situation. Upon application, trading of the company’s stock will be suspended from the opening of March 20, 2026 (Friday) and will resume after the investigation announcement is disclosed, with an expected suspension period of no more than five trading days. The company reminds investors to be aware of trading risks in the secondary market.

The announcement states that on December 30, 2025, the company disclosed the “Announcement of *ST Panda Regarding Receipt of Notice of Filing from China Securities Regulatory Commission” (Announcement No.: Lin 2025-070). Due to suspected information disclosure violations, the China Securities Regulatory Commission has decided to file a case against the company in accordance with the Securities Law of the People’s Republic of China, the Administrative Penalty Law, and other laws and regulations.

Because the company’s 2024 financial statements received an audit report with an opinion of inability to express an opinion, the company’s stock has been subject to delisting risk warning. Additionally, due to a negative internal control audit opinion for 2024, the stock continues to be under other risk warnings. As of now, there has been no substantial progress regarding the issues involved in these non-standard opinions. If in 2025 the company no longer meets the requirements of Article 9.3.7 of the Stock Listing Rules for lifting the delisting risk warning, the stock will be delisted. The company faces the risk of being forcibly delisted due to relevant financial indicators reaching the delisting threshold for two consecutive fiscal years. Matters related to the previous internal control negative opinion are still under rectification. Furthermore, issues exposed in related-party transactions and internal control deficiencies related to the capital increase and withdrawal of related parties in the subsidiary Guangzhou Panda Internet Microloan Co., Ltd. are also being addressed. No other similar incidents have been found so far.

On March 14, 2026, the company disclosed the “Announcement of *ST Panda Regarding Litigation Involving Subsidiary” (Announcement No.: Lin 2026-017). The company’s subsidiary, Guangzhou Microloan, filed a lawsuit with the Yuexiu District People’s Court in Guangzhou regarding a dispute over damages caused to creditors by a partnership with Yide. The case is currently in the filing stage, and the judgment and enforcement outcomes are uncertain.

According to the company’s self-inspection, as of the disclosure date of this announcement, the company’s production and operation activities are proceeding normally, and there have been no significant changes in the internal or external business environment.

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