Core Viewpoint - *ST Gao Hong's stock price has fallen below 1 yuan, raising the risk of delisting due to continuous trading below the par value [1][3]. Group 1: Stock Performance - On September 1, *ST Gao Hong's stock closed at 0.98 yuan per share, with a total market capitalization of 1.1 billion yuan [1]. - The stock has experienced a continuous decline, hitting the daily limit down for 16 consecutive trading days since August 11, resulting in a cumulative drop of over 55% [3]. Group 2: Regulatory Issues - The company received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) on August 8, indicating fraudulent issuance of shares and false records in annual reports from 2015 to 2023 [3][5]. - The notice revealed that the company inflated its operating income by a total of 6.94 billion yuan to 3.94 billion yuan across various years, with the inflated amounts constituting significant percentages of reported income [4]. Group 3: Financial Reporting and Audit Concerns - The CSRC's notice also stated that the company’s non-public stock issuance in 2020 was based on the inflated financial data, leading to a total fundraising of 1.25 billion yuan [5]. - The company has faced multiple audit challenges, with the auditing firm issuing an inability to express an opinion on the effectiveness of internal controls for the 2023 financial report [6]. - The company has reported negative net profits for three consecutive years from 2021 to 2023, raising concerns about its ability to continue as a going concern [6].

New Stock Issuance - Fushun Special Steel (600399) has a tender offer period from August 12, 2025, to September 10, 2025[1] - KaiPu Cloud (688228) reported severe abnormal fluctuations on August 30, 2025[1] - Xinhua Jin (600735) announced on August 30, 2025, regarding its stock activities[1] Trading Alerts - JiShi Media (601929) issued a notice on August 30, 2025, regarding trading activities[1] - XianDao Intelligent (300450) and DeChuang Environmental (603177) both reported updates on September 2, 2025[1] - Huahai Pharmaceutical (600521) and *ST HuiCheng (002168) also provided trading updates on September 2, 2025[1] Abnormal Fluctuations - Several companies, including Changjiang Materials (001296) and WanBangDe (002082), reported abnormal fluctuations on August 28, 2025[3] - Longjing Technology (301396) and Jinli Yongci (300748) also noted significant trading irregularities on August 27, 2025[3] - The report includes multiple links to announcements regarding trading activities and fluctuations for various companies[3]

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-109 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。 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"）连续三个 交易日（2025 年 8 月 29 日、2025 年 9 月 1 日、2025 年 9 月 2 日）股票收盘价 格跌幅偏离值累计已超过 12%，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 实施重大违法强制退市的风险提示公告》、《关于公司股票被叠加实施退市风险 警示的公告》,根据《行政处罚事先告知书》的认定，公司 2020 年非公开发 ...

9月2日，*ST高鸿大宗交易成交143.16万股，成交额133.13万元，占当日总成交额的21.12%，成交价0.93 元，较市场收盘价0.93元持平。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交会额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-09-02 | 000851 | *ST高鸡 | 0.93 | 49.98 | 46.48 | 角兴证券有限公司 | 国泰海通证券股份 | | | | | | | | 宁波和源路证券营 | 有限公司广州珠江 | | | | | | | | 非常 | 新城营业部 | | 2025-09-02 | 000851 | ·ST高鸿 | 0.93 | 30.00 | 27.90 | 东亚前海证券有限 | 东方财富证券股份 | | | | | | | | 责任公司苏州分公 | 有限公司拉萨东环 | | | | | | | | 司 | 路第一证券营业部 | | 2025-09 ...

Key Points - The stock price of Tianpu Co. has significantly deviated from its fundamentals after seven consecutive trading days of gains [1] - Dexin Technology clarified that it does not directly produce solid-state batteries after two consecutive trading days of gains [1] - Guizhou Moutai's controlling shareholder increased their stake by 67,821 shares, spending 100 million yuan [3] - Chint Electric has terminated the plan to spin off its subsidiary Chint Aneng for listing on the Shanghai Stock Exchange [4] - Chengdu Huamei launched a 40G high-precision RF direct sampling ADC chip [5] - ST Gaohong faces the risk of being delisted due to its stock price falling below par value [6] - Zhongtai Automobile's subsidiary assets are under compulsory execution, and the company is unable to resume operations this year [7] - The EU has initiated an anti-dumping investigation into Chinese pea protein [8] - Sierte is under investigation for suspected information disclosure violations by the China Securities Regulatory Commission [9] - Shenkai Co. disclosed the results of the tender offer from Shenzhen Huili and will resume trading on September 2 [10] Mergers and Acquisitions - Sudavige plans to acquire up to 51% of Changzhou Weipu Semiconductor Equipment Co., Ltd. [11] - Keli Sensor intends to purchase minority stakes in its subsidiary Huahong Technology for 121.5 million yuan [12] Operating Data - BYD's new energy vehicle sales in August reached 373,600 units, slightly up from 373,100 units in the same month last year [13] - SAIC Motor's vehicle sales in August were 363,400 units, a year-on-year increase of 41.04% [14] - Great Wall Motors sold 115,600 vehicles in August, marking a year-on-year growth of 22.33% [15] - BAIC Blue Valley's subsidiary sold 13,530 vehicles in August, up 3.47% year-on-year [16] - Hanma Technology's truck sales in August reached 1,051 units, a significant increase of 58.05% year-on-year [17] Shareholding Changes - Kesi Technology's key technical personnel Liang Hongjian plans to reduce their stake by up to 3% [18] - Longqi Technology's Suzhou Shunwei intends to reduce its stake by up to 4.09% [19] - Shengtai Group's Itochu Asia plans to reduce its stake by up to 3% [20] - Fangyuan Co.'s WISCO Yuanding intends to reduce its stake by up to 3% [21] - Dekeli's shareholder Qian Mingying and their concerted parties plan to reduce their stake by up to 3% [22] Contract Awards - Samsung Medical's wholly-owned subsidiary signed an overseas operating contract worth 5.88 million USD [24] - Yibin Technology received a project designation from a domestic new energy vehicle company, with an expected total sales of approximately 243 million yuan [24] - Teruid has pre-qualified for two projects with a total value of about 698 million yuan [24] - Xianghe Industrial recently signed a daily operating contract worth 400 million yuan [24] - Far East Holdings' subsidiary signed contracts worth over 1.689 billion yuan in August [24] Other Developments - Gujia Home intends to invest 1.124 billion yuan to build a self-owned base project in Indonesia [24] - Dongtu Technology is investing to establish a controlling subsidiary in the semiconductor sector [24] - Kangli Elevator has terminated the sale of its wholly-owned subsidiary Guangdong Kangli [24]

关于公司股票存在可能因股价低于面值被终止上市的风险提示 公告 证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-108 大唐高鸿网络股份有限公司 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。 特别提示： 收盘价为 0.98 元/股，公司股票收盘价首次低于 1 元。根据《深圳证券交易所股 票上市规则(2025 年修订)》第 9.2.3 条的规定，上市公司首次出现股票收盘价 低于 1 元情形的，应当在次一交易日开市前披露公司股票或者存托凭证可能被终 止上市的风险提示公告。敬请广大投资者注意投资风险。 控制的有效性进行了审计，并出具了无法表示的审计意见。公司 2021 年至 2023 年度连续三个会计年度经审计扣除非经常性损益前后净利润孰低者为负值，且 所股票上市规则（2023 年 8 月修订）》第 9.8.1 条第（四）项、第（七）项的 规定，公司股票已于 2024 年 05 月 06 日被实施其他风险警示（ST）。 规则》（2024 年修订）第 9.8.1 条第（六）项的规定，公司股票被叠加实施"其 他风险警示"。 根据《深圳证券交易所股票上 ...

Group 1: Guizhou Moutai and Shareholder Actions - Guizhou Moutai's controlling shareholder, Moutai Group, increased its stake by 67,821 shares on September 1, 2025, representing 0.0054% of the total share capital, with a planned investment of no less than 30 billion yuan and no more than 33 billion yuan over six months [2] Group 2: BYD and Automotive Sales Data - BYD reported August 2025 sales of 373,626 new energy vehicles, a slight increase from 373,083 units in the same month last year, with a cumulative sales figure of 2,863,876 units for the year, reflecting a 23% year-on-year growth [3] - BAIC BluePark's subsidiary sold 13,530 units in August, up 3.47% year-on-year, with a cumulative total of 90,962 units for the year, marking a 74.7% increase [3] - SAIC Motor's August vehicle sales reached 363,371 units, a 41.04% increase year-on-year, with a cumulative total of 2,753,493 units for the year, up 17.87% [3] Group 3: Regulatory Actions and Company Listings - Sierte has been placed under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws [4] - China Shipbuilding Industry Corporation announced that China Shipbuilding Heavy Industry's A-shares will be delisted on September 5, 2025, due to voluntary termination of listing [6] - ST Gaohong's stock closed at 0.98 yuan per share on September 1, 2025, falling below 1 yuan, which poses a risk of delisting [6] Group 4: Corporate Investments and Projects - Dongtu Technology has established a joint venture, Beijing Dongtu Semiconductor Technology Co., Ltd., with a registered capital of 10 million yuan, in which it holds a 70% stake [7] - Tianqi Co. signed a strategic cooperation framework agreement with Yiwei Lithium Energy to create a closed-loop system for lithium battery manufacturing and recycling [8] - Guangdong Construction's subsidiary has completed a 90MW solar-storage integrated project in Tibet, contributing to a total installed capacity of 4,662.89MW across various clean energy projects [9] - Gujia Home intends to invest approximately 112.37 million yuan in building a manufacturing base in Indonesia to enhance production efficiency and market competitiveness [10]

Core Viewpoint - *ST Gaohong's stock price closed at 0.98 yuan per share on September 1, marking the first time it has fallen below 1 yuan, which raises the risk of delisting due to the stock price being below par value [2][5]. Group 1: Delisting Risks - The company faces the risk of being delisted if its stock price remains below 1 yuan for 20 consecutive trading days, as per the regulations of the Shenzhen Stock Exchange [5]. - *ST Gaohong has received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) regarding fraudulent issuance of stocks and false records in annual reports from 2015 to 2023, which may lead to mandatory delisting due to major violations [7][8]. Group 2: Financial and Operational Issues - The company has received adverse audit opinions from accounting firms regarding its internal controls and financial statements for the years 2021 to 2023, indicating a lack of certainty about its ability to continue as a going concern [7]. - As of September 1, the company's total market capitalization is 1.1 billion yuan, with its stock price at 0.98 yuan per share [8].

【导读】*ST高鸿股票收盘价首次低于1元，存在面值退市风险 中国基金报记者 李智 再度拉响退市警报！ 9月1日，*ST高鸿发布公告称，公司今日股票收盘价为0.98元/股，首次低于1元，存在可能 因股价低于面值被终止上市的风险。 股票收盘价首次低于1元 *ST高鸿存在面值退市风险 9月1日，*ST高鸿发布公告称，9月1日，公司股票收盘价为0.98元/股，首次低于1元，存在 可能因股价低于面值被终止上市的风险。 根据相关规定，在深交所仅发行A股股票的上市公司，若连续20个交易日收盘价均低于1元， 深交所将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。 *ST高鸿表示，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。 公开资料显示，今年上半年，*ST高鸿重点发展以智能网联生态产业、自主可信计算、政企数 智化为核心的数智化应用，以数字化运营、IDC运营、智算中心运营为核心的数智化服务。 截至9月1日收盘，*ST高鸿股价报0.98元/股，总市值为11亿元。 编辑：格林 校对：乔伊 存在重大违法强制退市风险 值得 ...

Core Viewpoint - *ST Gaohong's stock price has fallen below 1 yuan, raising the risk of delisting due to continuous trading below the par value [2][4]. Group 1: Stock Performance - On September 1, *ST Gaohong's stock closed at 0.98 yuan per share, with a total market capitalization of 1.1 billion yuan [2]. - The stock has experienced a continuous decline, hitting the daily limit down for 16 consecutive trading days since August 11, resulting in a cumulative drop of over 55% [4]. Group 2: Regulatory Issues - The company received an administrative penalty notice from the China Securities Regulatory Commission (CSRC) on August 8, indicating fraudulent issuance of shares and false records in annual reports from 2015 to 2023 [4][6]. - The notice revealed that the company inflated its operating income and costs significantly over multiple years, with inflated operating income reaching up to 56.34 million yuan in 2020 [5]. Group 3: Financial Audits and Risks - The company has faced multiple audit challenges, with the auditing firm issuing an opinion of inability to express due to concerns over internal controls and ongoing operational viability [8]. - As of 2024, the company's main bank accounts have been frozen, adding to its financial distress [9]. Group 4: Market Context - As of September 1, *ST Gaohong is the only stock in the A-share market trading below 1 yuan, highlighting its unique position amidst a generally rising market [10].