业绩预告信息披露不准确 “烟花第一股”*ST熊猫及相关责任人遭通报批评、出具警示函

Core Viewpoint - Panda Financial Holdings (*ST 熊猫) has faced significant regulatory scrutiny due to discrepancies between its earnings forecasts and actual financial performance, leading to administrative penalties from the China Securities Regulatory Commission (CSRC) and the Shanghai Stock Exchange (SSE) [1][2][3] Group 1: Regulatory Actions - The CSRC issued an administrative regulatory decision against Panda Financial Holdings, citing inaccurate disclosures in its earnings forecasts and reports for 2024 [1] - The SSE also criticized the company and its responsible individuals for the same violations, issuing a public reprimand and regulatory warning [1][3] - Five key individuals, including the former chairman and current executives, received warning letters for their roles in the inaccurate disclosures [1][3] Group 2: Financial Performance Discrepancies - Initially, Panda Financial Holdings projected a net profit of 30 million to 45 million yuan for 2024, indicating a turnaround from previous losses [1] - However, a subsequent correction revealed an expected net loss of 460 million to 480 million yuan, attributed to increased credit impairment losses on receivables [2] - The final 2024 annual report confirmed a net loss of 474 million yuan and a non-recurring net loss of 481 million yuan, highlighting a significant shift from the earlier profit forecast [3] Group 3: Audit and Compliance Issues - The 2024 annual report received an audit opinion that could not express a view due to multiple issues, leading to the company's stock being placed under delisting risk warning [3]