Financial Performance - The company's operating revenue for Q3 2022 was CNY 30,960,925.36, a decrease of 48.50% compared to the same period last year[6]. - The net profit attributable to shareholders for Q3 2022 was CNY 1,225,080.71, down 90.89% year-on-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,468,713.97, a decrease of 82.77% compared to the previous year[6]. - The basic earnings per share for Q3 2022 was CNY 0.007, a decline of 90.89% year-on-year[7]. - The company reported a net profit of ¥69,073,429.51, recovering from a loss of ¥2,220,265.61 in the previous year[18]. - Total operating revenue for the first three quarters of 2022 reached ¥271,102,940.50, an increase of 21.8% compared to ¥222,593,438.96 in the same period of 2021[21]. - Net profit for the first three quarters of 2022 was ¥71,173,505.62, representing a 13.0% increase from ¥62,562,350.50 in the same period of 2021[22]. - The company reported a total profit of ¥92,842,179.71 for the first three quarters of 2022, up from ¥78,924,401.33 in the previous year[22]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 962,947,286.74, an increase of 4.77% from the end of the previous year[7]. - Total current assets as of September 30, 2022, amount to ¥945,196,125.00, an increase from ¥896,779,289.89 in the previous year[17]. - Total liabilities as of September 30, 2022, are ¥194,714,165.15, down from ¥217,110,569.32 in the previous year[18]. - The total assets of the company as of September 30, 2022, are ¥962,947,286.74, compared to ¥919,070,185.29 in the previous year[19]. - The equity attributable to shareholders increased by 10.21% to CNY 768,233,121.59 compared to the end of the previous year[7]. - Total equity attributable to shareholders increased to ¥768,233,121.59 from ¥697,071,113.88 year-over-year[18]. Cash Flow - The cash flow from operating activities showed a net outflow of CNY 215,094,197.96 for the year-to-date[7]. - Cash flow from operating activities for the first three quarters of 2022 showed a net outflow of ¥215,094,197.96, a significant decrease from a net inflow of ¥291,923,293.85 in the previous year[26]. - Cash outflow for operating activities in the first three quarters of 2022 totaled ¥584,632,491.21, compared to ¥25,790,995.15 in the previous year[26]. - The net cash flow from financing activities was -$9,627,185.57, a significant decrease compared to -$892,495.20 in the previous period[27]. - The net increase in cash and cash equivalents was -$221,046,523.68, compared to an increase of $250,262,888.89 in the prior period[27]. - The beginning cash and cash equivalents balance was $368,300,214.09, up from $28,063,614.35 in the previous period[27]. - The ending cash and cash equivalents balance stood at $147,253,690.41, down from $278,326,503.24[27]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 11,408[13]. - The largest shareholder, Wanzai County Galaxy Bay Investment Co., Ltd., holds 40,000,000 shares, accounting for 24.10% of total shares[13]. Operational Highlights - The company reported a significant increase in prepayments by 905.93% due to new advance payments for fireworks exports[11]. - The company experienced a 508.06% increase in financial expenses attributed to exchange rate gains from the US dollar[11]. - The company recorded a 173.68% decrease in cash flow from operating activities, primarily due to new loan disbursements during the reporting period[11]. - The company has a significant portion of its current assets in other current assets, totaling ¥680,902,402.28[17]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22].

证券简称：ST 熊猫 证券代码：600599 编号：临 2022-028 熊猫金控股份有限公司 关于参加 2022 年湖南辖区上市公司投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步强化与投资者的互动交流，使广大投资者能更深入全面地了解公司 情况，熊猫金控股份有限公司（以下简称"公司"）将参加由中国证券监督管理委 员会湖南证监局、湖南省上市公司协会与深圳市全景网络有限公司联合举办的 "2022年湖南辖区上市公司投资者网上集体接待日"活动，现将有关事项公告如 下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台，采取网络远程的方式举行，投资者可以登陆"全景·路演天下"网站 （http://rs.p5w.net/），参与公司本次投资者集体接待日活动，活动时间为2022年 9月29日（星期四）下午15:30－17:00。 届时公司相关工作人员将通过网络文字交流形式与投资者进行沟通。 欢迎广大投资者积极参与。 特此公告。 熊猫金控股份有限公司 2022年9月24 ...

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 240,142,015.14, representing a 47.80% increase compared to RMB 162,479,864.78 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was RMB 70,068,614.41, up 42.37% from RMB 49,217,131.30 in the previous year[18]. - Basic earnings per share for the first half of 2022 were RMB 0.422, reflecting a 42.57% increase from RMB 0.296 in the same period last year[19]. - The company reported a significant increase of 60.20% in net profit after deducting non-recurring gains and losses, reaching RMB 69,640,357.10 compared to RMB 43,470,412.41 in the previous year[18]. - The total comprehensive income for the first half of 2022 was CNY 69,948,424.91, compared to CNY 49,211,161.38 in the same period of 2021, representing an increase of approximately 42.2%[78]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB -194,466,182.54, compared to a positive RMB 319,756,653.47 in the same period last year, indicating a significant change in cash flow dynamics[18]. - The company's cash and cash equivalents decreased to ¥171,619,005.60 from ¥371,859,721.53, representing a decline of about 53.8%[68]. - The company's cash flow from operating activities was negative at CNY -194,466,182.54, primarily due to new loan issuances[27]. - The total cash outflow from operating activities was 462,896,789.32 RMB, compared to 289,340,510.02 RMB in the previous period[88]. - The company experienced a net decrease in cash and cash equivalents of 56,263,440.63 RMB during the period[89]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 1,005,578,699.62, a 9.41% increase from RMB 919,070,185.29 at the end of the previous year[18]. - The accounts receivable increased by 273.85% to CNY 137,194,101.05, reflecting the growth in the fireworks export business[29]. - Total liabilities increased to ¥311,456,230.44 from ¥224,240,220.78, marking a rise of 39%[73]. - The company has a total of 40,000,000 shares held by Wan Zai County Yinhe Bay Investment Co., accounting for 24.10% of total shares[63]. - The company has a total of 30,382,340 shares held by Yinhe Bay International Investment Co., representing 18.30% of total shares[63]. Business Operations - The company's fireworks export business achieved a revenue of CNY 240,142,015.14, representing a 47.80% increase compared to the previous year[28]. - The company launched over 70 new products for the 2023 sales season, including 40 new products under the Winda and Bright Star brands[25]. - The company faced challenges in the small loan business due to increased competition and regulatory pressures, leading to a focus on offline clients[25]. - The company plans to maintain stability in existing business resources while seeking new market opportunities in a challenging environment[25]. - The company operates in the chemical raw materials and chemical products manufacturing sector, primarily engaged in fireworks sales and small loan issuance[108]. Related Party Transactions and Compliance - The company did not report any non-operating fund occupation by controlling shareholders or related parties during the reporting period[6]. - The company committed to avoiding related party transactions with its subsidiaries and affiliates to protect shareholder interests[49]. - The company guarantees compliance with laws and regulations, ensuring fair and reasonable pricing for any necessary related transactions with Panda Financial Holdings[46]. - The company will not utilize its controlling shareholder status to seek undue benefits or engage in transactions detrimental to Panda Financial Holdings[47]. - The company has disclosed that there are no other significant related transactions with Panda Financial Holdings as of the date of the commitment[47]. Risk Factors - The company faces market risks due to fluctuations in raw material prices and economic cycles affecting the fireworks industry[36]. - The company is exposed to credit risk in its microfinance business due to tightening credit supply and increasing bad debt rates in the market[37]. - The company reported a significant reduction in other monetary funds from CNY 70,893,312.77 at the beginning of the period to CNY 2,856,911.33 at the end of the period, indicating a decrease of approximately 95.9%[188]. - The company has a provision for bad debts of CNY 7,220,742.16 for accounts receivable that are less than one year old, which is 5% of the total[196]. - The company has not reported any new product developments or market expansion strategies in the current financial report[185]. Accounting Policies - The financial statements are prepared based on the principle of continuous operation and comply with the requirements of enterprise accounting standards[113]. - The company has specific accounting policies for financial instruments impairment, fixed asset depreciation, and revenue recognition[112]. - The company recognizes revenue when control of goods or services is transferred to the customer, which is determined by various indicators such as legal ownership transfer and customer acceptance[168]. - The company assesses credit risk of financial assets at each balance sheet date, measuring expected credit losses based on whether credit risk has significantly increased since initial recognition[128]. - The company recognizes contract costs as assets when they are directly related to a contract and expected to be recoverable[173].

2022 年第一季度报告 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 117,111,014.65 | 49.94 | | 归属于上市公司股东的净利润 | 36,268,178.87 | 35.40 | | 归属于上市公司股东的扣除非经常 | 36,046,576.65 | 41.88 | | 性损益的净利润 | | | | 经营活动产生的现金流量净额 | -104,564,683.88 | 不适用 | | 基本每股收益（元/股） | 0.218 | 35.70 | | 稀释每股收益（元/股） | 0.218 | 35.70 | | 加权平均净资产收益率（%） | 5.071 | 增加 0.876 个百分点 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | | 减变动幅度(%) | 证券代码：600599 证券简称：ST 熊猫 熊猫金控股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完 ...

Financial Performance - The company achieved a consolidated net profit of RMB 71.97 million in 2021, representing a 56% increase compared to RMB 46.14 million in 2020[6]. - Operating revenue for 2021 was RMB 289.23 million, a 65.10% increase from RMB 175.19 million in 2020[20]. - The net profit attributable to shareholders of the parent company was RMB 71.97 million, compared to a loss of RMB 92.93 million in 2019[20]. - The net cash flow from operating activities was RMB 319.72 million, a significant recovery from a negative cash flow of RMB -222.73 million in 2020[20]. - The total assets of the company increased by 16.83% to RMB 919.07 million at the end of 2021, up from RMB 786.65 million at the end of 2020[20]. - The net assets attributable to shareholders of the parent company rose to RMB 697.07 million, an increase of 11.51% from RMB 625.10 million in 2020[20]. - Basic earnings per share for 2021 were RMB 0.43, up 53.57% from RMB 0.28 in 2020[21]. - The weighted average return on net assets increased by 3.23 percentage points to 10.89% in 2021, compared to 7.66% in 2020[21]. Business Growth and Challenges - In 2021, the company's fireworks export business achieved significant growth, with revenue and profit reaching new records, driven by strong sales in the U.S. market during the National Day season[28]. - The company launched over 200 new products in 2021, including two new product lines, which received positive market feedback and laid a solid foundation for future growth[29]. - The total export volume of fireworks in China reached 322,901 tons in 2021, with a total export value of CNY 519.84 million, representing a year-on-year increase of 19.2% and 16.5%, respectively[31]. - The company faced challenges in fulfilling approximately 30% of its orders due to shipping issues, including high freight costs and port congestion[28]. - The company experienced a decline in business volume in Europe and South America due to ongoing pandemic-related shipping challenges[28]. Risk Management and Internal Controls - The company continues to face risks as indicated by the negative audit opinion on internal controls issued by the accounting firm[5]. - The company aims to enhance risk control and management by shifting from a product-centric to a customer-centric approach, focusing on comprehensive risk management[56]. - The internal control system is under continuous improvement, with a focus on enhancing risk management and operational compliance[93]. - The audit identified accounts receivable impairment as a key audit matter due to the significant amount and the management's judgment involved[144]. - The company plans to enhance internal control systems and risk management to improve operational compliance and recover overdue loans[113]. Governance and Compliance - The company emphasizes the importance of governance and compliance with legal regulations to protect shareholder interests[62]. - The company has established specialized committees within the board to enhance governance and oversight[62]. - The company continues to strengthen investor relations management and improve communication with shareholders[63]. - The company has appointed new independent directors as part of its governance structure to ensure compliance and oversight[76]. - The company has undergone a board and supervisory committee reshuffle, with several members leaving due to term completion[76]. Shareholder Information - The number of ordinary shareholders increased from 12,787 to 13,547 during the reporting period[125]. - The largest shareholder, Wanzai County Galaxy Bay Investment Co., Ltd., holds 40 million shares, accounting for 24.10% of the total shares, with all shares frozen[127]. - The second largest shareholder, Galaxy Bay International Investment Co., Ltd., holds 30,382,340 shares, representing 18.30% of the total shares, also with all shares frozen[127]. - The company has no significant litigation or arbitration matters during the reporting period[118]. - The company has not faced any penalties from securities regulatory authorities in the past three years[77]. Future Outlook - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming fiscal year[176]. - The company is investing in new technology development to improve operational efficiency and product quality[176]. - Future guidance suggests a cautious approach to growth, with an emphasis on cost management and strategic investments[176]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[176]. - The company plans to optimize its credit loan product structure to mitigate credit risk due to tightening short-term credit supply and rising bad loan rates[56].

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人李民、主管会计工作负责人黄玉岸及会计机构负责人（会计主管人员）黄玉岸保 证季度报告中财务报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 2021 年第三季度报告 证券代码：600599 证券简称：ST 熊猫 熊猫金控股份有限公司 2021 年第三季度报告 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比 上年同期增 | | 年初至报告期 末比上年同期 | | --- | --- | --- | --- | --- | | | | 减变动幅度 | 年初至报告期末 | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 60,113,574.18 | 119.74 | 222,593,438.96 ...

证券简称：ST 熊猫 证券代码：600599 编号：临 2021-030 熊猫金控股份有限公司 关于参加 2021 年湖南辖区上市公司投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步强化与投资者的互动交流，使广大投资者能更深入全面地了解公司 情况，熊猫金控股份有限公司（以下简称"公司"）将参加由湖南监管局指导， 湖南省上市公司协会与深圳市全景网络有限公司联合举办的"2021年湖南辖区上 市公司投资者网上集体接待日"活动，现将有关事项公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台，采取网络远程的方式举行，投资者可以登陆"全景·路演天下"网站 （http://rs.p5w.net/），参与公司本次投资者集体接待日活动，活动时间为2021 年9月24日（星期五）下午15:00－17:00。 届时公司相关工作人员将通过网络文字交流形式与投资者进行沟通。 欢迎广大投资者积极参与。 特此公告。 熊猫金控股份有限公司 2021年9月23日 ...

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥162.48 million, representing a 62.79% increase compared to ¥99.81 million in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2021 was approximately ¥49.22 million, a significant increase of 215.26% from ¥15.61 million in the previous year[16]. - Basic earnings per share for the first half of 2021 reached ¥0.296, up 214.89% from ¥0.094 in the same period last year[16]. - The weighted average return on net assets increased to 7.576%, up 4.92 percentage points from 2.661% in the previous year[16]. - The net cash flow from operating activities for the first half of 2021 was approximately ¥319.76 million, compared to a negative cash flow of ¥201.59 million in the same period last year[16]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching approximately ¥43.47 million, up 177.81% from ¥15.65 million in the previous year[16]. - The company reported a net loss of RMB 25,071,866.04 for the period, an improvement from a loss of RMB 74,188,830.69 in the previous year[75]. - The company reported a total comprehensive income of ¥49,217,131.30 for the first half of 2021, compared to a decrease of -¥5,969.92 in the previous period[97]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥882.68 million, reflecting a 12.21% increase from ¥786.65 million at the end of the previous year[16]. - The total liabilities reached RMB 208,473,332.37, compared to RMB 161,562,031.85 at the end of 2020, indicating an increase of about 29%[75]. - The total equity attributable to shareholders was RMB 674,219,513.45, up from RMB 625,102,548.80 at the end of 2020, reflecting a growth of approximately 7.8%[75]. - The company's total current assets amounted to RMB 865,031,378.88, compared to RMB 770,715,347.84 at the end of 2020, showing an increase of about 12.2%[73]. - The company's total liabilities increased to RMB 163,158,091.80, primarily due to the recognition of lease liabilities[186]. Cash Flow Management - The cash flow from operating activities was ¥319,756,653.47, a significant improvement from a negative cash flow of -¥201,589,526.94 in the previous year[27]. - The company has shown a positive trend in cash flow management, with a net increase in cash and cash equivalents of ¥98,292,341.63 compared to a decrease of -¥68,613,368.84 in the previous year[93]. - Cash and cash equivalents stood at RMB 372,683,492.35 as of June 30, 2021, significantly higher than RMB 31,659,678.03 at the end of 2020, marking an increase of over 1,100%[73]. Market and Operational Challenges - The company faced challenges in the European market due to ongoing pandemic effects, leading to reduced customer orders[21]. - The dollar depreciated by approximately 7% compared to the same period last year, impacting the company's export profits[22]. - The company plans to enhance its internal integration and focus on financial technology to improve risk control and post-loan management capabilities[23]. Corporate Governance and Compliance - The company did not report any non-operating fund occupation by controlling shareholders or related parties during the reporting period[5]. - The company has committed to maintaining independence in operations, assets, and finances following the completion of a major asset restructuring[50]. - The company has guaranteed compliance with relevant laws and regulations to protect the interests of minority shareholders[52]. - The company will strictly adhere to relevant laws and regulations regarding related party transactions, ensuring fair and equitable dealings[56]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,457, reflecting a stable shareholder base[65]. - The largest shareholder, Wanzai County Galaxy Bay Investment Co., Ltd., held 24.10% of the shares, while Galaxy Bay International Investment Co., Ltd. held 18.30%[66]. Taxation and Financial Obligations - The company reported a 64.61% increase in tax payable, amounting to 25.51 million yuan, compared to 15.50 million yuan in the previous period[30]. - The company paid CNY 8,522,277.87 in taxes during the first half of 2021, compared to CNY 3,899,067.87 in the same period of 2020, indicating an increase of approximately 119%[89]. Investment and Product Development - The company launched over 200 new products, including 50 new items for the 2022 Winda and Bright Star lines, which received positive market feedback[22]. - The company has not disclosed any new product or technology developments during the reporting period, indicating a potential area for future focus[61]. Risk Management - The company faces risks related to raw material price fluctuations, economic cycles, and reliance on major customers, which could impact production and revenue[38]. - The company has initiated self-inspection and rectification measures to address issues related to last year's non-standard audit opinion, focusing on product optimization, risk control model updates, and personnel structure adjustments[59].

Financial Performance - The company achieved a consolidated net profit of 46.12 million yuan for the year 2020, with a net profit attributable to shareholders of 46.14 million yuan[5]. - The company's operating revenue for 2020 was 175.19 million yuan, representing a 28.93% increase compared to 135.87 million yuan in 2019[20]. - The net profit attributable to shareholders in 2019 was a loss of 92.93 million yuan, indicating a significant turnaround in 2020[20]. - The basic earnings per share for 2020 was 0.28 yuan, compared to a loss of 0.56 yuan per share in 2019[21]. - The company reported a net profit of 35.63 million yuan after deducting non-recurring gains and losses in 2020, compared to a loss of 113.97 million yuan in 2019[20]. - The annual net profit attributable to shareholders was significantly impacted by non-recurring gains and losses, totaling ¥10,507,758.00 for 2020[25]. - The total revenue for 2020 reached ¥175,185,778.30, a 29% increase from ¥135,872,200.00 in 2019[154]. - Operating profit for 2020 was ¥47,348,395.71, compared to an operating loss of ¥65,904,199.01 in 2019[154]. - Net profit for 2020 was ¥46,124,932.12, a significant recovery from a net loss of ¥92,929,214.91 in 2019[156]. - The total comprehensive income for 2020 was ¥46,124,932.12, recovering from a comprehensive loss of ¥92,929,214.91 in 2019[156]. Assets and Liabilities - The total assets of the company at the end of 2020 were 786.65 million yuan, a 4.56% increase from 752.33 million yuan at the end of 2019[20]. - The company's net assets attributable to shareholders increased by 7.97% to 625.10 million yuan at the end of 2020[20]. - The company reported a loan balance of CNY 533 million as of December 31, 2020, with concerns regarding the completeness of pre- and post-loan management documentation[79]. - Total liabilities decreased from CNY 173,359,776.63 in 2019 to CNY 161,562,031.85 in 2020, a reduction of approximately 6.9%[148]. - Owner's equity attributable to shareholders increased from CNY 578,967,455.22 in 2019 to CNY 625,102,548.80 in 2020, representing an increase of about 8.0%[148]. - The total liabilities at the end of 2020 were RMB 625,102,548.80, which indicates a substantial financial obligation[168]. Cash Flow - The cash flow from operating activities for 2020 was a negative 222.73 million yuan, worsening from a negative 115.34 million yuan in 2019[20]. - The company experienced a significant cash outflow from operating activities, with a net cash flow of -222.73 million yuan due to increased loan disbursements[35]. - The company reported a significant increase in customer loans and advances, with a net increase of CNY 395,413,778.41 in 2020 compared to a decrease of CNY -36,742,027.69 in 2019[159]. - Operating cash inflow for 2020 was CNY 544,021,017.92, a significant increase from CNY 172,360,450.19 in 2019, reflecting a growth of approximately 215%[159]. - The net cash outflow from operating activities in 2020 was CNY -222,727,984.67, worsening from CNY -115,344,928.13 in 2019[160]. Business Operations - The company’s main business includes fireworks export and micro-lending, with fireworks exports seeing a surge in demand in the US market[29]. - The company faced challenges in the micro-lending sector due to increased regulatory scrutiny and a tightening credit market[29]. - The fireworks export business saw significant growth, with over 50 new products launched online in response to strong demand in the U.S. market[33]. - The small loan business generated revenue of 31.70 million yuan, with a growth rate outperforming the same period last year[33]. Regulatory and Compliance - The company received a non-standard audit opinion from Lianda Accounting Firm for the 2020 financial report due to significant uncertainties in loan management[79]. - The company received a warning from the China Securities Regulatory Commission for incomplete information disclosure and internal control deficiencies[87]. - The company has committed to complying with all relevant laws and regulations regarding related party transactions, protecting the interests of Panda Financial Holdings and minority shareholders[68]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,482, an increase from 16,506 at the end of the previous month, representing a growth of approximately 5.9%[97]. - The top ten shareholders hold a total of 40,000,000 shares, accounting for 24.10% of the total shares, with the largest shareholder being Wanzai County Yinhe Bay Investment Co., Ltd.[99]. - The company did not distribute any dividends in the years 2018, 2019, and 2020, with net profits attributable to ordinary shareholders being negative in those years, specifically -55,038,643.95 RMB in 2018, -92,929,216.43 RMB in 2019, and 46,135,093.58 RMB in 2020[65]. Management and Governance - The company has maintained a stable management structure with no changes in shareholding among key executives[110]. - The management team includes professionals with extensive experience in finance and management, such as Dai Wensheng, a professor at Renmin University, and Ma Zhengwei, an associate professor at China University of Petroleum[112]. - The board of directors consists of a diverse group of individuals with backgrounds in various industries, enhancing the company's governance[112]. - The company has established a remuneration system combining basic salary and performance rewards for its directors and senior management[114]. Internal Control and Risk Management - The internal control audit report issued by the auditing firm indicated a negative opinion due to major deficiencies in internal controls[134]. - The company plans to strengthen internal control systems, personnel management, and risk management to address identified deficiencies[133]. - The company aims to enhance corporate governance and improve its internal control framework moving forward[133]. Market Position and Strategy - The company plans to focus on online marketing strategies due to ongoing international travel restrictions, with new business directions identified in the U.S. market[58]. - The company aims to optimize its credit loan product structure to mitigate credit risk amid rising non-performing loan rates in the market[58]. - The company is committed to a cash dividend policy that complies with relevant laws and regulations, ensuring clear standards and procedures for profit distribution[64].

2021 年第一季度报告 公司代码：600599 公司简称：*ST 熊猫 熊猫金控股份有限公司 2021 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 2021 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | --- | --- | --- | --- | | | | | 减(%) | | 总资产 | 846,374,018.81 | 786,654,419.19 | | | 归属于上市公司 | 651,887,555.04 | 625,102,548.80 | | | 股东的净资产 | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | 经营活动产生的 | -13,249,701.88 | -36,727,174.24 | 不适用 | | 现金流量净额 | | | | | | 年初至报告期末 | 上年初至上年 ...