On March 17th, "Panda Does Not Walk Cake" official WeChat account posted a statement, revealing the plight of its employees. "I am an ordinary employee of Panda Does Not Walk," the post reads. Since March 15th, the founder and CEO of Panda Does Not Walk, Yang Zhenhua, has gone missing. Thousands of employees have not received their wages for three to four months, and there have been disruptions in social security and housing provident fund payments.
As of the time of posting, the boss is still unreachable, and the DingTalk company group has suddenly been disbanded. Forced to do so, we can only voice out online.
"Sorry, my computer was wiped clean, my access revoked, and I haven't been paid. Then came the news of the company's dissolution," the employee commented in the section below.
Screenshots circulating online reveal that Yang Zhenhua has posted a message admitting that due to his poor decision-making, his company has faced a disruption in its financial flow, leading to the cessation of business operations and his personal bankruptcy. He acknowledges his incapacity to repay debts and advises shareholders and partner suppliers to pursue legal actions for their rights.
Furthermore, numerous consumer complaints on Black Cat Complaints detail issues with Panda No Go, including undeliverable cake orders, non-refundable prepaid amounts, and unreachable customer service.
According to public records, Huizhou Panda Don't Go Baking Co., Ltd. was established in October 2017 with a registered capital of approximately 1.5758 million RMB, and its legal representative is Yao Xiuhua. The chairman of the board, Yang Zhenhua, holds approximately 34.84% of the shares.
It is understood that Panda Don't Go adopts the corporate philosophy of "making everyone's birthday happier," providing birthday surprises such as free cake delivery, singing, dancing, and performances for customers. The company has previously received investments from reputable institutions such as TouTou Shi Dao, IDG, and XVC.
