*ST Panda's total external guarantee amount is 60 million yuan, and it may also face claims due to previous disclosure issues.

Ask AI · *ST Panda: Why did it add high-value collateral?

Radar Finance | By Yang Yang | Li Yihui

On March 16, *ST Panda (stock code: 600599) issued an announcement stating that, in order to provide additional guarantees for a 60 million yuan loan applied for by its wholly owned subsidiary Jiangxi Panda Fireworks Co., Ltd. with Jilin Rural Commercial Bank Co., Ltd., it has entered into a supplementary agreement.

Pursuant to this agreement, *ST Panda and its subsidiaries will take additional guarantee measures, including pledging all equity in Jiangxi Panda held by the company and the rights to three trademarks—“Panda,” “Panda,” and “Winda”—owned by Jiangxi Panda within Chinese territory to the bank as security. This guarantee has been approved by the company’s 13th meeting of the eighth session of the board of directors and still needs to be submitted to the shareholders’ meeting for consideration.

As of now, the total amount of external guarantees provided by *ST Panda and its controlling subsidiaries is 60 million yuan, accounting for 58.61% of the company’s net assets attributable to the latest audited period. There are no overdue external guarantees or external guarantees involving lawsuits.

What’s noteworthy is that *ST Panda may also face claims due to information disclosure issues.

In response, Niubin, the chief lawyer at Shanghai Baiyue Law Firm, told Radar Finance that under the Securities Law and relevant regulations, if a listed company’s disclosure is untimely or inaccurate and causes losses to investors, the affected investors may claim compensation according to law. Those affected investors who bought *ST Panda shares between December 2, 2024 and April 28, 2025, and held *ST Panda shares at the close of trading on April 28, 2025, can register for the free compensation proceeding through the public account “Lei Shou Ba” (Lei Shou Code: 77). There are no fees before any award is granted.

According to Tianyancha, *ST Panda was established on December 12, 1999, with a registered capital of 16600 million yuan RMB. The legal representative is Wang Zheng, and the registered address is 589 Jinsha North Road, Jinsanbei Road? Liuyang City, Hunan Province. Its main business is the export trading of various fireworks and firecrackers products.

At present, the company’s chairman is Wang Zheng, the secretary to the board is Chen Mo, the number of employees is 140, and the actual controller is Zhao Weiping.

The company has 14 invested companies, including Panda Capital Management Co., Ltd., Tibet Panda Small Loan Co., Ltd., Panda Financial Advisory Management Co., Ltd., Jiangxi Panda Fireworks Co., Ltd., Shangli County Panda Fireworks Co., Ltd., and others.

In terms of performance, in 2022, 2023, and 2024, the company’s operating revenue was 329 million yuan, 228 million yuan, and 324 million yuan, respectively, with year-over-year growth of 13.86%, -30.66%, and 41.82%, respectively. Net profit attributable to the parent company was 90.3639 million yuan, -212 million yuan, and -474 million yuan, respectively, with year-over-year changes of 25.56%, -335.01%, and -123.42%, respectively. In the same period, the company’s asset-liability ratio was 20.48%, 25.03%, and 81.18%, respectively.

On the risk front, according to Tianyancha information, the company itself has 103 Tianyan risks, 59 Tianyan risks in its surrounding area, 90 historical Tianyan risks, and 151 early-warning and reminder Tianyan risks.