Two brothers and another man are also said to have sold the animal's feet and eaten some of the meat themselves.
Police discovered the panda's skin and 10kg of meat in a raid last December.
Panda poaching is extremely rare in China where the endangered animals are seen as a national treasure.
The case has caused revulsion on Chinese social media.
The brothers, Wang Wenlin and Wang Wencai, are accused by police of shooting the panda dead in Zhaotong in southern Yunnan province.
They are said to have sold the meat and the feet for about $750 (Â£492) to another man, Li Kequan, who then resold it to six more people.
DNA tests on the meat and skin seized by the police confirmed it was from an adult female panda. The China Daily newspaper published a photo of the animal's pelt and said parts of its skull and gall bladder were also found.
A Yunnan court says the investigation into the three men has concluded and they have been remanded for prosecution.
There are fewer than 2,000 pandas in the wild in China. The International Union for the Conservation of Nature lists giant pandas as endangered, but their numbers have almost doubled since the late 1970s.
Hunting pandas can lead to a 10-year sentence - or, in what the Chinese government calls "grave circumstances", life imprisonment or even a death sentence can be applied.

President Recep Tayyip Erdogan, who first came to power as prime minister in 2003, is seeking a big enough majority to turn Turkey into a presidential republic.
However his hopes may be scuppered if the pro-Kurdish HDP crosses the 10% threshold and enters parliament.
Explosions at its election rally in Diyarbakir on Friday killed four.
Officials said the blasts were caused by improvised bombs.
HDP co-chair Selahattin Demirtas criticised Mr Erdogan's response to the killings.
Casting his vote on Sunday Mr Demirtas commented: "The election campaigning process was not a fair and equal race."
However he added: "Hopefully we will wake up to a new and freer Turkey on 8 June."
Polls across Turkey's 81 provinces opened at 08:00 (05:00 GMT) local time and closed at 17:00 (14:00 GMT). First results are expected late on Sunday.
If the left-wing HDP succeeds in winning seats in parliament for the first time, it would reduce the number of seats won by Mr Erdogan's AKP, thwarting its plans to change the constitution and transfer the prime minister's executive powers to the president.
A strong showing from the main opposition Republican People's Party (CHP) and the third-placed Nationalist Movement Party (MHP) could even force the AKP into a coalition, correspondents say.
Kemal Kilicdaroglu, chairman of the CHP echoed Mr Dermirtas and called the campaign period "unequal". He promised however to "continue to work with a sense of responsibility".
Turkey's current Prime Minister Ahmet Davutoglu shied away from accusations of unfairness telling reporters: "Whatever [the people's] will, it is a will that must be respected by everyone.''
The BBC's Mark Lowen in Istanbul says Sunday's election is the biggest electoral challenge for the AKP since it came to power 13 years ago.
Growth has stalled, he says, critics talk of an authoritarian President Erdogan who has eroded free speech and burnt bridges with the West - and they are desperate for change.
The result may have ramifications beyond Turkey's borders.
The country is a vital Nato member in a volatile Middle East and a rare mix of Islam and democracy, our correspondent notes.
Three men in south-western China accused of selling 35kg (77lb) of meat from a panda they killed are to be prosecuted, a court has announced.
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Turkey has voted in a general election which will determine whether the ruling party can change the constitution.