On January 28, the Shanghai Bankruptcy Court revealed ↓↓ In the bankruptcy liquidation case of Shanghai Panda Interactive Entertainment Culture Co., Ltd., a subsidiary of Wang Sicong, nearly 9,000 items in stock and other assets were sold through online auctions for a transaction

Category：hotcomm

2025-05-21

html November 28

Shanghai Bankruptcy Court revealed

↓↓

Wang Sicong

Shanghai Panda Interactive Entertainment culture Co., Ltd.

Bank Liquidation Case

Nearly 9000 pieces of inventory

and other assets are auctioned online ml6

sold for 31 million yuan

The premium rate is as high as 991%

Wang Sicong

According to Ali Auction , from 10:00 on October 14, 2020 to 10:00 on October 15, 2020 (except for delays), the administrator of Shanghai Panda Interactive Entertainment Culture Co., Ltd. held a public auction on Taobao Alibaba Auction Bankruptcy Strong Clearing Platform. The auction target of
is part of the intellectual property rights and remaining inventory under the name of Panda Interactive Entertainment, with a starting price of about 2.85 million yuan, which are:
222 registered trademarks and some trademark application rights
11 art works
6 similar to filming methods to create works
11 software copyright
19 domain names
hard disk and source code
9,000 more than 39,000 pieces of inventory goods
Finally, two people signed up for this auction, 15,997 times watched,
transaction price was 31,038,950 yuan, with a premium rate of about 991%, but it was still more than 4 million yuan lower than the rated price of 35.25 million yuan
. The bidding announcement also mentioned that the inventory part is Panda TV out of print and . The quantity is large, and the buyer needs to go to a warehouse in Chaoyang District, Beijing where the inventory is located to collect it by himself. The required transport and transportation costs shall be borne by the buyer, and the delivery shall be handled within 10 days from the date of transaction. Failure to collect the goods within the time limit shall be deemed to be waived.
It is worth noting that
In June 2020
Panda Interactive Entertainment launched a batch of products on Alibaba auction
. The specific targets are mainly "lucky bags" sold in various combinations of
↓↓

contains T-shirts, canvas bags, panda head slippers, mugs, mobile phone cases, pillows, hats, mobile phone seats, Bluetooth selfie sticks, backpacks, power banks and other items. The starting price of
ranges from 51 yuan to 500 yuan. The valuation of the subject matter is RMB 8,707.
According to Alibaba Auction, the final transaction price of some products is more than ten times higher than the starting price of .

even had products that were hyped hundreds of times, and the final transaction price of a gift box with a starting price of 51 yuan for reached 5217 yuan for .

Panda Interactive Entertainment was established in 2015 and mainly operates the live broadcast website Panda Live. In July 2015, Wang Sicong became the founder of Panda Live with a registered capital of 20 million yuan, and became the CEO of Panda TV.
At the beginning of its establishment, Panda Live attracted big-name anchors such as SKY, Li Xiaofeng, Hearthstone Prisoner , Sol Jun to join , and there are also star platforms such as JJ Lin, Luhan , Chen He, Lin Gengxin, Angelababy, etc.

Network diagram
While carrying out live broadcast business, Panda Live is also the first to try live variety shows and develop towards pan-entertainment. In May 2017, Panda Live completed a RMB 1 billion Series B financing with a valuation of up to 5 billion yuan. iResearch data shows that at the end of 2017, Panda Live ranked third in the industry in terms of user count .
But in the eyes of industry insiders, lacks strong cash flow support , which has laid hidden dangers for Panda Live's future development, making "deficient in stamina" in the competition.
Public information shows:
On March 7, 2019, Panda Live App has been removed from the App Store and Google Play.
On March 8, Panda Live began to close the server.
On March 30, the official website of Panda Live issued an announcement announcing that Panda Live was officially closed.
At present, Panda Interactive Entertainment has a total of 398 judicial auction information.
After that,
has been listed as the person subject to execution by the court many times due to disputes with the investors of Panda Interactive Entertainment. It was not until the end of December 2019 that the consumption restrictions were gradually lifted.
In January 2020, Panda Interactive Entertainment entered the actual bankruptcy liquidation process. After dozens of rounds of negotiations, Pusi Investment and dozens of investors of Panda Interactive Entertainment reached an agreement, and all investors were compensated. Panda Interactive Entertainment's huge investment losses of nearly 2 billion yuan were borne by Pusi Investment and the actual controller themselves.

Source: Daily Economic News

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