Shanghai Stock Exchange: Disciplinary sanctions imposed on Panda Financial Holdings Co., Ltd. and relevant responsible individuals.

The Shanghai Stock Exchange announced a decision to impose disciplinary actions on Panda Financial Holdings Co., Ltd. and the relevant responsible individuals. Investigations revealed that the debt transfer between *ST Panda and Kunpeng Asset was a fictitious transaction. *ST Panda provided funding for the debt transfer and subsequently concealed the fictitious transaction through fund lending, with the debt being held by Guojun Industrial Holdings Co., Ltd. In light of the aforementioned violations and circumstances, the Disciplinary Committee of the Self-Regulatory Supervision of the Shanghai Stock Exchange approved the decision to publicly reprimand Xu Jinhwan, the then Chairman, Li Min, the then Director, Luo Chunyan, the then Secretary of the Board, Yang Hengwei, the then Director and General Manager, and Huang Yuhan, the then Chief Financial Officer of Panda Financial Holdings Co., Ltd. Furthermore, it was publicly determined that Xu Jinhwan is unfit to serve as a director or senior management of a listed company for five years, and Li Min is unfit to serve as a director or senior management of a listed company for three years.