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

Why is AI *ST Panda adding a large guarantee?

Radar Finance Text | Yang Yang Editing | Li Yihui

On March 16, *ST Panda (Stock Code: 600599) announced that it is providing an additional guarantee 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., and has signed a supplementary agreement.

According to the agreement, *ST Panda and its subsidiaries will take additional guarantee measures, including pledging all the shares of Jiangxi Panda held by the company and the rights to the trademarks “Panda,” “Panda,” and “Winda” owned by Jiangxi Panda within China as collateral for the bank. This guarantee has been approved by the company’s 8th Board of Directors in the 13th meeting and still needs to be submitted for shareholder approval.

As of now, *ST Panda and its controlling subsidiaries have provided a total external guarantee amount of 60 million yuan, accounting for 58.61% of the most recent audited net assets, with no overdue or litigation-related guarantees.

It is worth noting that *ST Panda may also face claims due to disclosure issues.

In this regard, Niu Bin, Chief Lawyer at Shanghai Baiyue Law Firm, told Radar Finance that according to the Securities Law and related regulations, if a listed company’s failure to disclose information timely or accurately causes losses to investors, the affected investors can claim compensation according to law. Investors who bought *ST Panda shares between December 2, 2024, and April 28, 2025, and hold them as of the close on April 28, 2025, can register via the public account “LeiZhuBa” (LeiZhu Code: 77) to participate in free claims. There are no fees before compensation.

Tianyancha data shows that *ST Panda was established on December 12, 1999, with a registered capital of 166 million yuan. The legal representative is Wang Zheng, and the registered address is No. 589 Jinsha North Road, Liuyang City, Hunan Province. Its main business is export trade of various fireworks and firecrackers.

Currently, the company’s chairman is Wang Zheng, the secretary is Chen Mo, with 140 employees, and the actual controller is Zhao Weiping.

The company has 14 associated companies, including Panda Capital Management Co., Ltd., Tibet Panda Microloan 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, the company’s operating income for 2022, 2023, and 2024 was 329 million yuan, 228 million yuan, and 324 million yuan, respectively, with year-on-year growth of 13.86%, -30.66%, and 41.82%. Net profit attributable to the parent was 90.36 million yuan, -212 million yuan, and -474 million yuan, with year-on-year changes of 25.56%, -335.01%, and -123.42%. During the same period, the company’s asset-liability ratio was 20.48%, 25.03%, and 81.18%.

Regarding risks, Tianyancha information shows the company has 103 internal Tianyan risks, 59 surrounding risks, 90 historical risks, and 151 warning alert risks.