HK Stock Market Move | NANJING PANDA (00553) fell more than 4% recently and received a warning letter from the Jiangsu Securities Regulatory Bureau, with its performance forecast being significantly different from actual performance.

NANJING PANDA (00553) fell more than 4%, dropping to 3.08 Hong Kong dollars, down 4.05%, with a trading volume of 7.7531 million Hong Kong dollars as of the time of writing. On the news front, NANJING PANDA recently announced that the company, along with Chairman Xia Dechuan, General Manager Hu Huichun, and Chief Accountant Hu Shoujun, have been warned by the Jiangsu Securities Regulatory Bureau. An investigation found that the company's performance forecast disclosed on January 30, 2024, for the year 2023 projected a net profit of 16.1943 million to 24.2915 million yuan; however, the 2023 net profit disclosed on March 29, 2024, was -238 million yuan, with a non-net profit loss of -257 million yuan. The company's performance forecast significantly differed from the actual performance, and the nature of the net profit or loss attributable to the shareholders of the listed company changed, resulting in inaccurate information disclosure. The Jiangsu regulatory bureau believes that the company's actions violate the provisions of Article 3, Paragraph 1 of the "Measures for the Administration of Information Disclosure by Listed Companies," and that Chairman Xia Dechuan, General Manager Hu Huichun, and Chief Accountant Hu Shoujun did not fulfill their duties diligently as required by Article 4 of the "Disclosure Regulations," bearing primary responsibility for the company's aforementioned violations.