*ST熊猫突遭立案，“旧疾复发”数万投资者何去何从？

Group 1 - The company *ST Panda has been officially investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, receiving a notice of investigation on December 29, 2025 [1] - The investigation follows a significant discrepancy between the company's 2024 performance forecast and its actual financial results, which led to a warning letter from the Hunan Regulatory Bureau in July 2025 [2][5] - The company's stock price has shown unusual behavior, experiencing a surge despite the ongoing investigation and the risk of delisting, with a notable increase of over 30% in stock price over eight trading days [6][7] Group 2 - The company's financial troubles began with a profit forecast of 30 million to 45 million yuan for 2024, which was later revised to a substantial loss of 460 million to 480 million yuan [4] - The actual reported net profit for 2024 was a loss of 474 million yuan, highlighting severe discrepancies in financial reporting and raising concerns about corporate governance and internal controls [5] - The company is at risk of being delisted if it does not meet the criteria to lift the delisting risk warning by the end of 2025, as it has received an audit report that expresses an inability to provide an opinion on its financial statements [8]