all correctIt's almost always an internal seal problem; every failed Panda thermostat I've seen will pass the boiling water test.
Everything you've posted points to this being down to the thermostat not fully sealing when it closes; the bizarre thing is that you've tried a number of different brands of thermostat with similar results.
If it works normally after the thermostat has been replaced, even for a short while, I can't see what else could be causing the problem. If the coolant is badly contaminated, it's possible the contamination could be stopping the seal from sealing fully.
Some aftermarket thermostats are known to be of poor quality, but usually even those last longer than this.
definitely a strange one