Anchor Panda, a state-sponsored cyber espionage group originating from China, is assessed to operate in alignment with the Chinese PLA Navy. The group, which emerged around 2012, is primarily motivated by military and economic espionage, focusing on the theft of sensitive information. A distinguishing characteristic of Anchor Panda is its specialized targeting of maritime operations, engineering, transportation, and defense industries, particularly within the South China Sea region and in countries associated with China's 'Belt and Road Initiative'. The group is also known by the aliases APT14, ALUMINUM, QAZTeam, APT40, and Periscope, which can sometimes lead to confusion with other distinct threat actors.