证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-106 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四次风险提示 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。 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。 特别提示： 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 ...

Core Viewpoint - *ST Gaohong (000851) reported significant declines in revenue and net profit for the first half of 2025, indicating severe operational challenges and financial distress [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 was 401 million yuan, a decrease of 48.32% year-on-year [1]. - The net profit attributable to shareholders was -140 million yuan, a staggering decline of 3166.01% compared to the previous year [1]. - In Q2 2025, total revenue was 220 million yuan, down 46.83% year-on-year, while the net profit attributable to shareholders was -97.65 million yuan, an increase of 4.21% from the previous quarter [1]. - The gross margin improved to 12.31%, up 65.6% year-on-year, but the net margin plummeted to -35.18%, a decrease of 14187.98% [1]. - The total of selling, administrative, and financial expenses reached 155 million yuan, accounting for 38.65% of total revenue, an increase of 165.62% year-on-year [1]. Cash Flow and Financial Position - Cash and cash equivalents decreased by 24.39% due to a court-ordered deduction of 140 million yuan related to a lawsuit [3]. - The net cash flow from operating activities increased by 116.70%, attributed to reduced cash outflows from merchant prepayments and settlement funds [3]. - The net cash flow from investing activities dropped by 99.85%, primarily due to the previous year's proceeds from the disposal of a subsidiary [4]. - The net cash flow from financing activities surged by 504.64%, driven by investments from minority shareholders [5]. - The net increase in cash and cash equivalents rose by 540.68%, reflecting the increase in operating cash flow [6]. Business Model and Historical Performance - The company's business model relies heavily on research and marketing, necessitating a thorough examination of the underlying drivers [8]. - Historical data indicates a median Return on Invested Capital (ROIC) of 2.4% over the past decade, with a particularly poor ROIC of -58.88% in 2024 [7]. - The company has reported losses in 6 out of 26 annual reports since its listing, suggesting a generally weak financial performance [7].

Group 1 - The core point of the news is that *ST Gao Hong experienced a significant block trade on August 29, with a total of 1.2298 million shares traded, amounting to 1.2667 million yuan, which accounted for 19.06% of the total trading volume for that day, with the transaction price remaining stable at 1.03 yuan, equal to the market closing price [1][2]. Group 2 - On August 29, 2025, the trading details for *ST Gao Hong included a transaction price of 1.03 yuan, with a trading volume of 31.98 million shares and a transaction amount of 32.94 million yuan, executed by Guangfa Securities [2]. - Another transaction on the same day for *ST Gao Ji had a price of 1.03 yuan, with a volume of 41 million shares and a transaction amount of 42.23 million yuan, facilitated by Guotai Junan Securities [2]. - A third transaction for *ST Gao Ji also occurred at the same price of 1.03 yuan, with a volume of 50 million shares and a transaction amount of 51.50 million yuan, conducted by Ninghai Securities [2].

Group 1 - The core viewpoint of the article highlights the significant decline in ST Gaohong's financial performance for the first half of 2025, with a notable drop in both revenue and net profit [1] - The company reported a revenue of 401 million yuan, representing a year-on-year decrease of 48.32% [1] - The net profit for the same period was -140 million yuan, marking a staggering year-on-year decline of 3166.01% [1] - Basic earnings per share were reported at -0.1212 yuan, indicating a negative performance [1] - The weighted average return on equity (ROE) stood at -27.68%, reflecting poor financial health [1]

Market Performance - In August 2025, major A-share indices experienced significant gains, with the Shanghai Composite Index reaching a peak of 3888.6 points, marking a nearly ten-year high and a monthly increase of 7.97%, closing at 3857.93 points [1] - The Shenzhen Component Index surged by 15.32%, while the ChiNext Index rose by 24.13%, and the Sci-Tech 50 Index saw the highest increase of 28% [1] Index Performance Overview - Year-to-date performance for major indices shows the Sci-Tech 50 Index leading with a 35.63% increase, followed by the ChiNext Index at 34.95%, and the Shenzhen Component Index at 21.91% [2] - The Shanghai Composite Index has a year-to-date increase of 15.10% [2] Sector Performance - Among the Shenwan first-level industry indices, the telecommunications, electronics, and comprehensive indices had the highest increases at 34.41%, 24.79%, and 21.9% respectively [3] - Other sectors such as non-ferrous metals, computers, power equipment, machinery, automobiles, and media also saw gains exceeding 10%, while the banking index experienced a slight decline of 1.62% [3] Banking Sector Insights - The banking sector continues to attract new capital inflows due to high dividends in a low-interest-rate environment, with state-owned banks providing stable dividends as a safety margin [5] - The net interest margin for major banks is stabilizing, and regional banks are benefiting from consumer loan interest subsidies [5] - Despite pressure on interest margins due to regulatory impacts, the overall liability side of the banking sector is improving, with a strong focus on corporate lending over retail [6] Stock Performance Highlights - In August, 115 stocks recorded cumulative gains of over 50%, with the top three performers being Geberit (155.37%), Kaipu Cloud (147.9%), and Sino Medical (141.73%) [11] - The stock *ST Aowei led the increase in trading halts with 11 occurrences, while *ST Gaohong topped the decline list with 15 halts and a drop of 51.64% [7][9] Notable Corporate Actions - Wan Tong Development announced plans to acquire Beijing Shudu Information Technology Co., which specializes in PCIe 5.0 switching chips for GPU networking, although the company is currently operating at a loss [10] - Kaipu Cloud disclosed intentions to purchase 100% equity of Nanning Taike Semiconductor, with the transaction's approval status remaining uncertain [12]

每经AI快讯，*ST高鸿（SZ 000851，收盘价：1.03元）8月30日发布公告称，公司第十届第二十二次董 事会会议于2025年8月27日以现场和通讯表决方式召开。会议审议了《关于公司<2025年半年度报告>及 摘要的议案》等文件。 每经头条（nbdtoutiao）——近120个品牌、1600辆车逐鹿西南！下半年国内首个A级车展开幕：新能 源"第三极"将改写车市格局 （记者 张喜威） 2025年1至6月份，*ST高鸿的营业收入构成为：电信增值业占比51.81%，企业信息化服务业务占比 47.24%，其他业务占比0.96%。 ...

Group 1 - The company, 大唐高鸿网络股份有限公司, has announced a delay in disclosing the special verification report or audit report regarding prior accounting errors [1][2] - The board of directors and the supervisory board held meetings on August 27-28, 2025, to approve the proposal for correcting prior accounting errors and retrospective adjustments [1] - According to regulations, if the accounting error corrections have widespread implications or change the nature of the company's annual profit and loss, a comprehensive audit report is required [2] Group 2 - The company is expected to complete the disclosure of the corrected periodic reports, special verification report, and related annual audit report within two months from the date of this announcement [2] - Investors are advised to pay attention to investment risks related to the company's financial reporting [2]

Core Viewpoint - The company, 大唐高鸿网络股份有限公司, has announced corrections to prior accounting errors that will affect financial reports from 2015 to 2024, altering the profit and loss nature for the years 2017, 2021, and 2022, but will not significantly impact the current and future financial status and operations of the company [1][2]. Summary by Sections Accounting Error Correction - The company received a notice from the China Securities Regulatory Commission regarding prior accounting errors, which included fraudulent issuance of stocks and false records in annual reports from 2015 to 2023 [2][3]. - The fraudulent activities involved inflating revenue and profits through fictitious trade operations related to notebook computers and IT systems, leading to inflated revenues of 6.94 billion yuan, 24.52 billion yuan, 24.20 billion yuan, 30.63 billion yuan, 56.34 billion yuan, 24.80 billion yuan, and 18.05 billion yuan for the years 2015 to 2021 respectively [2][3]. Financial Statement Adjustments - The company applied a retrospective restatement method to correct the accounting errors, impacting various financial statement items [3][4]. - For the consolidated balance sheet as of December 31, 2015, adjustments included: - Accounts receivable decreased by 150.24 million yuan - Prepayments decreased by 50.79 million yuan - Other receivables increased by 66.77 million yuan - Total current assets decreased by 134.26 million yuan [4][5]. Profit and Loss Statement Adjustments - The adjustments for the consolidated profit and loss statement for 2015 included: - Total operating revenue decreased by 693.50 million yuan - Total operating costs decreased by 692.83 million yuan - Net profit adjusted to reflect a decrease of 473,514.19 yuan, resulting in a basic and diluted earnings per share of 0.1435 [5][6]. Cash Flow Statement Adjustments - The cash flow statement for 2015 showed: - Cash received from sales decreased by 660.40 million yuan - Cash received from other operating activities increased by 660.40 million yuan - Cash paid for goods and services decreased by 727.51 million yuan [5][6]. Impact on Subsequent Years - Similar adjustments were made for the years 2016 to 2019, with significant impacts on both the balance sheets and profit and loss statements, reflecting the ongoing nature of the accounting corrections [6][20][21].

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-105 大唐高鸿网络股份有限公司 关于前期会计差错更正及追溯调整的公告 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。 特别提示： 大唐高鸿网络股份有限公司(以下简称"公司")本次关于前期会计差错更正 及追溯调整，将影响 2015 年至 2024 年相关财务报告数据及披露信息，将导致 2017 年度、2021 年度、2022 年度的盈亏性质发生改变，不会对公司当期及后期财务状 况和生产经营产生重大影响。 公司根据《行政处罚事先告知书》的认定，进行了会计差错更正，但因跨期 时间长，调整事项繁复，事先告知书可能与正式处罚决定存在差异等因素，若本 次会计差错更正事项与正式处罚决定不一致的，公司将及时做出调整。本次会计 差错更正尚未经审计，但与年审机构深圳旭泰会计师事务所（特殊普通合伙）进 行了调整追溯方案和结果沟通。 公司于 2025 年 08 月 27 日至 28 日召开了第十届董事会第二十二次会议和第 十届监事会第十三次会议，审议通过了《关于前期会计差错更正及追溯调整的议 案》。本次关于前期会计 ...

公告显示，十大流通股东中，施宝祥为新进流通股东。 责任编辑：小浪快报 8月29日消息，高鸿股份发布半年度报告。 公告显示，公司半年度营业收入401,457,772.62元，同比减少48.32%，归属上市公司股东的净利 润-140,340,907.67元，同比减少3166.01%。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ ...