ChaPanda: Fully Cooperating with HKEX to Address Concerns; Operations Remain Normal

36Kr reports that on the evening of October 14, ChaPanda announced via the Hong Kong Stock Exchange that its board noted the Securities and Futures Commission (SFC) of Hong Kong had suspended trading in the company's H shares since 9:00 a.m. on October 13. The SFC stated it has concerns that the company's initial public offering may have been artificially manipulated to create a false impression of demand for its shares. The board attaches great importance to this matter and firmly believes that complying with all applicable laws and regulations is crucial. Consequently, the company is urgently seeking legal advice on this directive and will strive to address and resolve the SFC's concerns. The company commits to fully cooperating with the SFC in addressing any of its concerns and will issue further announcements as appropriate. The company confirms that the group's business operations remain normal and that there have been no material changes to the group's operations as of the announcement date.