Core Viewpoint - The China Securities Regulatory Commission (CSRC) has intensified its crackdown on financial fraud among listed companies, imposing significant penalties on multiple firms for financial misconduct, including forced delisting for some [2][5]. Group 1: Penalties and Companies Involved - Multiple companies, including *ST Dongtong, Lieneng 5 (formerly Yili Clean Energy), *ST Guangdao, ST Tiansheng, *ST Xinchao, and *ST Lingda, have been penalized for financial fraud, with *ST Dongtong and Lieneng 5 facing fines exceeding 100 million yuan [2][3]. - *ST Dongtong was fined 229 million yuan for inflating revenue and profits over four consecutive years, with additional penalties for seven responsible individuals totaling 44 million yuan, and the actual controller facing a 10-year market ban [3][5]. - Lieneng 5, which was delisted in July 2023, was fined 210 million yuan for financial fraud and misleading disclosures over an eight-year period, with penalties imposed on 29 responsible personnel totaling approximately 165 million yuan [4][6]. Group 2: Regulatory Environment and Enforcement - The CSRC has adopted a "zero tolerance" approach towards financial fraud, enhancing the enforcement of penalties and ensuring that both companies and their key personnel are held accountable [5][6]. - Over 70 individuals, including executives and board members, have faced penalties in connection with the financial misconduct of their companies, with some receiving lifetime bans from the securities market [5][6]. - The regulatory framework now includes measures for criminal liability, indicating that administrative penalties are only one aspect of the accountability process for financial fraud [6]. Group 3: Implications for the Market - The trend of increasing penalties and the potential for criminal charges are expected to deter financial misconduct and promote better compliance among listed companies [6]. - The ongoing enforcement actions are likely to lead to the removal of "bad actors" from the market, thereby improving overall corporate governance and compliance standards within the industry [6].

特别提示： 1.截至 2025 年 9 月 12 日，大唐高鸿网络股份有限公司(以下简称"公司") 股票收盘价格已经连续十个交易日均低于 1 元。根据《深圳证券交易所股票上市 规则》（以下简称《股票上市规则》）第 9.2.1 条、第 9.1.15 条相关规定，在 深交所仅发行 A 股股票的公司，通过深交所交易系统连续 20 个交易日的股票收 盘价均低于 1 元，深交所终止其股票上市交易；因触及交易类强制退市情形而终 止上市的股票不进入退市整理期。敬请广大投资者注意投资风险。 证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-118 大唐高鸿网络股份有限公司 关于公司股票存在可能因股价低于面值被终止上市的第二次风 险提示公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 根据《深圳证券交易所股票上市规则(2025 年修订)》第 9.2.1 条、第 9.2.3 条以及第 9.2.4 条的相关规定，在深圳证券交易所仅发行 A 股股票的上市公司， 首次出现股票收盘价低于人民币 1 元的，应当在次一交易日开市前披露公司股票 可能被终止上市的风险提示公 ...

1、大唐高鸿网络股份有限公司(以下简称"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(以下简称"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》(以下简称"《告 知书》")。根据《告知书》的认定，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。 2、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。 3、公司将全力配合中国证监会的相关工作，并积极行使听证或进行陈述、 申辩等合法权利，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。 一、公司股票可能被实施重大违法强制退市的风险暨立案调查进展情况 大唐高鸿网络股份有限公司 关于公司股票可能被实施重大违法强制退市的第六次风险提示 公告 本公司及董事会全体成员保证公告内容的真实、准确和完整 ...

Core Points - The average stock price of A-shares is 13.53 yuan, with 28 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.63 yuan [1] - Among the low-priced stocks, 13 are ST stocks, accounting for 46.43% of the total [1] - In terms of market performance, 20 of the low-priced stocks increased in value, with the highest gains from Xiangjiang Holdings, Rongsheng Development, and Yingxin Development, which rose by 10.11%, 10.06%, and 4.68% respectively [1] Low-Priced Stocks Summary - The lowest priced stock is *ST Gao Hong at 0.63 yuan, with a daily decline of 4.55% and a turnover rate of 18.65% [1] - Other notable low-priced stocks include *ST Su Wu at 1.00 yuan (up 3.09%), *ST Jin Ke at 1.41 yuan (down 2.76%), and Yongtai Energy at 1.49 yuan (up 2.76%) [1] - The table of low-priced stocks includes various sectors such as telecommunications, pharmaceuticals, real estate, coal, and steel [1][2]

New Stock Issuance - YouSheng Co., Ltd. (Securities Code: 732418) issued shares at a price of 46.36 RMB on September 12, 2025[1] - *ST Tianmao (Securities Code: 000627) has a cash option declaration period from September 15 to September 19, 2025[1] - *ST Zitian (Securities Code: 300280) enters the delisting arrangement period starting September 15, 2025[1] Trading Alerts - Hangke Technology (Securities Code: 688006) reported severe abnormal fluctuations on September 11, 2025[1] - Shanghai Electric Power (Securities Code: 600021) had a trading volume of 8,487 on September 10, 2025[1] - Tianji Co., Ltd. (Securities Code: 002759) reported a trading volume of 8,705 on September 10, 2025[1] Abnormal Fluctuations - ST Lingnan (Securities Code: 002717) reported a trading volume of 7,965 on September 10, 2025[3] - ST Huaxi (Securities Code: 002630) reported a trading volume of 9,579 on September 11, 2025[3] - ST Jianye (Securities Code: 600381) reported a trading volume of 5,420 on September 3, 2025[3]

大唐高鸿网络股份有限公司 关于股票交易异常波动的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假 记载、误导性陈述或者重大遗漏。 证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-116 2024 年 08 月 05 日，公司收到江苏省常州市中级人民法院寄来的《变更诉讼 请求申请书》；同日公司收到江苏省常州市新北区人民法院寄来的《追加被告及 变更诉讼请求申请书》及相关证据材料。 一、股票交易异常波动的情况介绍 大唐高鸿网络股份有限公司（以下简称："公司"或"本公司"）日均换手 率连续 1 个交易日与前 5 个交易日日均换手率比值已超过 30 倍，且累计换手率 已超 20%，根据深圳证券交易所相关规定，属于股票交易异常波动情况。 二、说明关注、核实情况 根据相关规定，公司与公司董事会、管理层、公司大股东就相关问题进行了 必要核实，现对有关核实情况及市场关注事项说明如下: 1.公司被中国证券监督管理委员会立案调查情况 公司于 2025 年 08 月 09 日披露了《关于收到中国证券监督管理委员会<行政 处罚事先告知书>及重大违法强制退市风险提示公告》、《关于公司股票可能被 ...

Core Insights - The average stock price in the A-share market is 13.56 yuan, with 28 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.66 yuan [1] - Among the low-priced stocks, 13 are ST stocks, accounting for 46.43% of the total [1] - The Shanghai Composite Index closed at 3875.31 points as of September 11 [1] Low-Priced Stocks Overview - The lowest priced stock is *ST Gao Hong at 0.66 yuan, followed by *ST Su Wu at 0.97 yuan and Chongqing Steel at 1.45 yuan [1] - In terms of market performance, 14 of the low-priced stocks increased in value, with ST Lingnan rising by 4.38%, Guangtian Group by 1.59%, and Jiugang Hongxing by 1.20% [1] - Conversely, 7 stocks declined, with *ST Gao Hong dropping by 2.94%, *ST Su Wu by 2.02%, and *ST Yun Wang by 1.04% [1] Detailed Low-Priced Stocks Data - A table lists various low-priced stocks, including their latest closing prices, daily price changes, turnover rates, price-to-book ratios, and industries [2] - Notable stocks include *ST Jin Ke and *ST Tian Mao, both priced at 1.45 yuan, and ST Lingnan at 1.67 yuan with a daily increase of 4.38% [1][2] - The data indicates a mix of industries represented among low-priced stocks, including telecommunications, pharmaceuticals, steel, and real estate [1][2]

利欧股份 | 301678 | 新恒汇 | 90.86 | 26.83 | 1.29 | | --- | --- | --- | --- | --- | | 000851 | *ST高鸿 | 0.66 | 26.80 | -2.94 | | 603626 | 科森科技 | 13.81 | 25.98 | -4.23 | | 301630 | 同宇新材 | 200.06 | 25.96 | 10.53 | | 603382 | 海阳科技 | 40.83 | 25.83 | 1.01 | | 300499 | 高澜股份 | 30.04 | 25.67 | 2.25 | | 002796 | 世嘉科技 | 17.66 | 25.26 | 10.03 | | 603262 | 技源集团 | 32.99 | 24.83 | 3.32 | | 002067 | 景兴纸业 | 5.19 | 24.44 | -1.52 | | 301251 | 威尔高 | 59.78 | 23.91 | 9.73 | | 301662 | 宏工科技 | 155.00 | 23.71 | -1.89 | | 000558 | 天府文旅 | 7 ...

Market Performance - Major market indices opened with mixed results, with the Shanghai Composite Index down 0.16% at 3806.06 points, the Shenzhen Component Index up 0.11% at 12570.87 points, and the ChiNext Index up 0.46% at 2917.77 points [1] Individual Stock Performance - A total of 1482 stocks rose at the opening, with 7 stocks hitting the daily limit up. Notable performers included *ST Weier with 13 consecutive limit ups, Qingshan Paper with 8 consecutive limit ups, and *ST Yatai with 4 consecutive limit ups [1] - Conversely, 3048 stocks declined at the opening, with 6 stocks hitting the daily limit down, including Youzu Network and Huaguang Huaneng [1] Continuity of Stock Prices - Among the stocks that hit the limit up yesterday, those that continued to hit the limit up today included Qingshan Paper and Xinju Network, among others [1] - Stocks that opened lower included Hezhan Energy, Sijuan New Materials, and Zhaoyan New Drug, with opening declines of 9.89%, 4.91%, and 4.37% respectively [1] - Among the stocks that hit the limit down yesterday, *ST Yuancheng and *ST Gaohong continued to hit the limit down today [1]

Group 1 - The article lists several companies under monitoring for stock price fluctuations, indicating potential volatility in their shares [1] - The monitoring periods for the companies range from early September 2025 to mid-September 2025, suggesting a focused timeframe for observation [1] - Specific companies mentioned include *ST Gao Hong, Hangke Technology, and Tianpu Co., with varying start and end dates for monitoring [1] Group 2 - The monitoring for Hangke Technology began on September 11, 2025, and ended on September 24, 2025, with a notable fluctuation starting on August 28, 2025 [1] - Tianpu Co. has multiple monitoring periods, with one starting on September 3, 2025, and another on September 4, 2025, indicating heightened scrutiny [1] - Kaipu Cloud is also under monitoring, with its period starting on September 1, 2025, and ending on September 12, 2025, reflecting potential investment interest [1]