Group 1 - The company, China Electric Power Technology (00085.HK), announced that it will hold a board meeting on August 29, 2025, to review and approve its interim results for the six months ending June 30, 2025 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內 容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 中國電子華大科技有限公司 主席 孫劼 香港，2025年8月19日 於本公告日期，董事會由兩名非執行董事，分別為孫劼先生（主席）及付丹先生； 兩名執行董事，分別為常峰先生（副主席及董事總經理）及王劍先生；以及四名 獨立非執行董事，分別為陳棋昌先生、邱洪生先生、鄒燦林先生及黃亞平女士組 成。 董事會會議日期 中國電子華大科技有限公司（「本公司」）董事會（「董事會」）謹此宣佈將於 2025 年 8 月 29 日（星期五）舉行董事會會議，藉以（其中包括）批准本公司及其附屬 公司截至 2025 年 6 月 30 日止 6 個月的中期業績及其發佈。 ...

Core Viewpoint - *ST Gaohong has been severely penalized for financial fraud amounting to nearly 20 billion yuan, facing potential delisting and multi-faceted accountability measures from regulatory authorities [1][3][7]. Group 1: Financial Fraud Details - The company engaged in fictitious trading activities, significantly inflating revenue and profits from 2015 to 2023, resulting in a total inflated revenue of 19.876 billion yuan and inflated profit of 76.2259 million yuan [3][4]. - In 2019, the inflated revenue accounted for 49.38% of the reported figures, while the inflated profit represented 64.88% of the total profit for that year [4]. - The company is also implicated in fraudulent issuance of stocks based on the inflated figures from 2018 to 2020, constituting a serious violation of securities laws [4]. Group 2: Regulatory Actions - The China Securities Regulatory Commission (CSRC) has proposed a fine of 160 million yuan against *ST Gaohong and an additional 7 million yuan against third parties involved in the fraud [1][3]. - Key executives, including the chairman and the actual controller of a related trading company, face severe penalties, including a 10-year market ban for the chairman and a 5-year ban for the financial director [5][7]. - The CSRC emphasizes a "three-dimensional" accountability approach, targeting both the primary offenders and accomplices in financial fraud [7][8]. Group 3: Company Financial Health - *ST Gaohong has reported continuous losses since 2021, with a projected loss of 130 to 180 million yuan for the first half of 2025, attributed to overdue loans and legal issues [6]. - The company's financial reports for 2023 received an audit opinion indicating uncertainty regarding its ability to continue as a going concern [6].

Core Viewpoint - The financial fraud case of *ST Gaohong has concluded after a decade, with the China Securities Regulatory Commission (CSRC) proposing significant penalties for the company and its responsible parties due to long-term fraudulent activities that inflated revenue and profits [1][2]. Summary by Sections Financial Fraud Details - From 2015 to 2023, *ST Gaohong inflated its revenue by nearly 20 billion yuan and profits by over 76 million yuan through fictitious trade activities involving laptops [2][3]. - The fraudulent activities included "empty turnover" transactions, where funds, contracts, and logistics documents circulated without actual goods being exchanged, lacking commercial substance [4]. Regulatory Actions - The CSRC plans to impose a fine of 160 million yuan on *ST Gaohong and 7 million yuan on third parties involved in the fraud [1]. - The company is facing potential delisting due to serious violations, with the Shenzhen Stock Exchange initiating delisting procedures [1]. Key Individuals Involved - Key figures in the fraudulent activities include Jiang Qing, the actual controller of Nanjing Qingya Trading Co., and Cao Bingjiao, a former director of *ST Gaohong, who are married [2][5]. - Their connections facilitated the fraudulent trade operations, with Cao Bingjiao managing the fake trade business and approving payment requests [5][6]. Historical Context - Investigations into *ST Gaohong's IT sales business revealed that many clients and suppliers were linked to Cao Bingjiao, indicating a network of relationships that supported the fraudulent activities [5][6]. - Prior to the fraud being uncovered, there were no indications of financial misconduct, as reported in a 2022 investigation [2].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) announced on August 8 that it intends to impose penalties on *ST Gaohong (000851) and related parties for serious financial fraud, including inflated revenue and profits, and fraudulent issuance of shares [1][4][7]. Group 1: Financial Misconduct - *ST Gaohong is accused of serious financial fraud, characterized by two main violations: inflating revenue and profits through fictitious trade activities and committing fraudulent issuance of shares during a non-public offering in 2020 [4][5]. - From 2015 to 2023, *ST Gaohong inflated its reported revenue by approximately 20 billion yuan, with specific annual inflated amounts ranging from 3.94 billion yuan to 56.34 billion yuan [4][5]. - The company also inflated its total profit by amounts ranging from 370.74 thousand yuan to 2.19 million yuan during the same period [5]. Group 2: Regulatory Actions - The CSRC has decided to impose a fine of 135 million yuan on *ST Gaohong and has mandated corrective actions [7]. - Key executives, including the former chairman and financial director, face fines ranging from 750,000 yuan to 7.5 million yuan, along with warnings [7][8]. - The CSRC plans to impose a 10-year market ban on the former chairman and another executive, while the financial director will face a 5-year ban [8]. Group 3: Potential Consequences - Due to the severity of the violations, *ST Gaohong is at risk of being delisted for major violations, and its stock will be subject to additional delisting risk warnings [6][9]. - The CSRC will also refer any criminal evidence to law enforcement agencies for further investigation, adhering to strict legal protocols [9].

Group 1 - The China Securities Regulatory Commission (CSRC) has proposed an administrative penalty of 160 million yuan against *ST Gaohong (000851) for suspected violations of information disclosure laws, with an additional 7 million yuan fine for third-party collaborators [1] - *ST Gaohong has been found to engage in non-substantive business activities, significantly inflating revenue and profits, which constitutes a serious violation of securities laws [1] - The CSRC emphasizes the importance of combating financial fraud, which undermines market integrity, and has intensified efforts to address issues such as fictitious business operations and misuse of accounting policies [1] Group 2 - Recent trends in financial fraud in the capital market include third-party collaboration with listed companies, forming a profit chain that disrupts market order and damages trust [2] - The number of forced delistings due to financial fraud has increased by 30% year-on-year, indicating a normalization of strict penalties for such offenses [2] - The CSRC is implementing a comprehensive accountability mechanism that includes direct penalties, referrals to relevant authorities, and criminal prosecutions to dismantle the fraud ecosystem [2]

Core Viewpoint - Company *ST Gao Hong (000851.SZ) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to significant penalties including forced delisting [1] Summary by Relevant Sections - **Investigation and Allegations** - The company received an administrative penalty notice from the CSRC on August 8, 2025, indicating that its 2020 private placement of shares constituted fraudulent issuance [1] - The annual reports from 2015 to 2023 are found to contain false records, which may trigger major violations under the Shenzhen Stock Exchange listing rules [1] - **Potential Consequences** - The company may face forced delisting due to the serious violations identified, which are in accordance with Article 9.5.1 and Article 9.5.2 of the Shenzhen Stock Exchange listing rules [1] - Following the risk warning, the company's stock will continue to be labeled as *ST Gao Hong, with the stock code remaining 000851, and the daily price fluctuation limit will still be set at 5% [1]

Core Viewpoint - *ST Gaohong (000851.SZ) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to significant penalties including mandatory delisting of its shares [1] Summary by Relevant Sections - **Investigation Details** - The company received an administrative penalty notice from the CSRC on August 8, 2025, regarding its non-public stock issuance in 2020, which is deemed fraudulent [1] - The annual reports from 2015 to 2023 are found to contain false records, which may trigger major violations under the Shenzhen Stock Exchange listing rules [1] - **Potential Consequences** - The company may face mandatory delisting if the formal penalty decision confirms the findings of major violations [1] - The specific provisions of the Shenzhen Stock Exchange rules that may apply include Article 9.5.1 and Article 9.5.2, which outline conditions for significant legal violations leading to delisting [1]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice of administrative penalty against *ST Gaohong (000851.SZ) for suspected violations of information disclosure laws, involving significant financial misconduct [1] Summary by Relevant Sections Regulatory Actions - CSRC has proposed a fine of 160 million yuan for the responsible parties involved in the misconduct and an additional 7 million yuan for third parties that facilitated the fraud [1] Company Operations - *ST Gaohong has been engaged in non-substantive business activities, such as "empty transfers" and "fake orders" related to notebook computers, which have led to a substantial inflation of revenue and profits, violating securities laws [1] Potential Consequences - The company is suspected of triggering conditions for mandatory delisting due to serious violations, prompting the Shenzhen Stock Exchange to initiate delisting procedures [1] - CSRC will transfer any criminal evidence to law enforcement agencies in accordance with relevant legal standards [1]

格隆汇8月8日丨*ST高鸿（维权）(000851.SZ)公布，公司因涉嫌信息披露违法违规，被中国证券监督管 理委员会(简称"中国证监会")立案调查。公司于2025年8月8日收到中国证监会下发的《行政处罚事先告 知书》。根据《告知书》认定的事实，公司2020年非公开发行股票构成欺诈发行、2015年至2023年年度 报告存在虚假记载，将触及《深圳证券交易所股票上市规则》第9.5.1条第一项、第9.5.2条第一款第 （六）项规定的重大违法强制退市情形，可能被实施重大违法强制退市。根据《深圳证券交易所股票上 市规则》，如根据正式的处罚决定书结论，公司触及重大违法强制退市情形，公司股票将被终止上市。 公司将全力配合中国证监会的相关工作，最终结果以中国证监会出具的正式处罚决定为准。敬请广大投 资者关注后续公告并注意投资风险。 登录新浪财经APP 搜索【信披】查看更多考评等级 ...