Affected investors can register their claims on the Sina Investor Rights Protection Platform: http://wq.finance.sina.com.cn/.
Xu Feng, a lawyer at Shanghai Jiucheng Law Firm, noted that the investor compensation case for Nanjing Panda Electronics Company Limited (600775) is still ongoing.
On January 14, 2025, Nanjing Panda announced that it had received a warning letter from the Jiangsu Securities Regulatory Bureau. The letter cited the company, along with executives Xia Dechuan, Hu Huichun, and Hu Shoujun, for inaccurate information disclosure.
The investigation revealed that on January 30, 2024, Nanjing Panda issued its 2023 annual earnings forecast, projecting a net profit attributable to shareholders of approximately RMB 16.1943 million to RMB 24.2915 million, and a net profit after deducting non-recurring gains and losses ranging from a loss of RMB 3.2729 million to a profit of RMB 4.8243 million. However, the actual 2023 annual report, disclosed on March 29, 2024, showed a net loss attributable to shareholders of RMB 237.8622 million and a net loss after non-recurring items of RMB 257.0095 million. The significant discrepancy between the forecast and actual results, including a shift from profit to loss, constituted inaccurate disclosure.
Xu Feng, the managing partner of Shanghai Jiucheng Law Firm, stated that investors who purchased Nanjing Panda shares between January 31, 2024, and March 29, 2024, and sold or continued to hold them after March 29, 2024, may still be eligible to file compensation claims.
Xu Feng has been practicing law since 2008, specializing in securities fraud cases, including false statements, insider trading, and market manipulation. Over the past decade, he has successfully represented investors in nearly 200 stock-related claims, with many cases resulting in settlements or court victories.
Comments