ST Panda: Revenue is down by 25.86% in the first three quarters of 2025, indicating multiple risks.

ST Panda announced that it achieved revenue of 155,420,600 yuan and a net profit of 13,560,100 yuan from January to September 2025, a decrease of 25.86% and 53.25% year-on-year, respectively. Due to the issuance of an audit report with a disclaimer of opinion on the 2024 financial statements and a negative opinion on internal controls, the company's stock has been delisted and other risk warnings have been implemented. Non-standard matters have not made significant progress, and if the conditions for revocation are not met in 2025, the company will be delisted. In addition, the 2.6 million shares held by shareholder Galaxy Bay International will be auctioned off judicially, with the outcome uncertain. The company's stock price has recently experienced large fluctuations, reminding investors to be cautious of risks.