New Stock Offerings - Shenke Co., Ltd. (002633) has an offer period from July 29, 2025, to August 27, 2025[1] - Fushun Special Steel (600399) has an offer period from August 12, 2025, to September 10, 2025[1] - ST Gaohong (000851) has an announcement on August 26, 2025[1] Market Volatility - Great Wall Military Industry (601606) reported severe abnormal fluctuations on August 14, 2025[1] - Dongxin Co., Ltd. (688110) had an announcement on August 16, 2025, regarding market conditions[1] - Changfei Optical Fiber (601869) has an announcement dated August 27, 2025, related to market performance[1] Company Announcements - ST Dehao (002005) has an announcement on August 27, 2025, regarding its market status[1] - China Satellite (600118) announced updates on August 27, 2025[1] - ST Yizhong (603389) has an announcement dated August 26, 2025, regarding its market activities[1]

Group 1 - The average stock price of A-shares is 13.21 yuan, with 33 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 1.14 yuan [2] - Among the low-priced stocks, 13 are ST stocks, accounting for 39.39% of the total [2] - The Shanghai Composite Index closed at 3800.35 points as of August 27 [2] Group 2 - Among the low-priced stocks, *ST Su Wu and ST Zhong Zhu saw increases of 5.41% and 1.06% respectively, while *ST Gao Hong, *ST Yang Guang, and Yingxin Development experienced declines of 5.00%, 4.62%, and 4.14% respectively [2] - The trading data shows that *ST Gao Hong has a price-to-book ratio of 2.23 and a turnover rate of 0.17% [2] - The stock prices of other low-priced stocks include *ST Su Wu at 1.17 yuan, *ST Jin Ke at 1.34 yuan, and Rongsheng Development at 1.45 yuan [2][3]

| 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) | | | | 2025-08-27 | 000851 | *ST高鸡 | 1.14 | 50.00 | 57.00 | 东海证券股份有限 | 方正证券股份有限 | | | | | | | | 公司南京分公司 | 公司上海长宁区延 | | | | | | | | | 安西路证券营业部 | | 2025-08-27 | 000851 | *ST高鸿 | 1.14 | 50.00 | 57.00 | 东海证券股份有限 | 东海证券股份有限 | | | | | | | | 公司南京分公司 | 公司南京分公司 | | 2025-08-27 | 000851 | *ST高鸡 | 1.14 | 50.00 | 57.00 | 东海证券股份有限 | 国元证券股份有限 | | | | | | | | 公司浙江分公司 | 公司南京建邺路证 | | | | ...

New Stock Issuance - The new stock issuance for Sanxie Electric (证券代码: 920100) is priced at 8.83[1] - Shenkou Co. (证券代码: 002633) has a tender offer period from July 29, 2025, to August 27, 2025[1] - Fushun Special Steel (证券代码: 600399) has a tender offer period from August 12, 2025, to September 10, 2025[1] Market Alerts - Changcheng Military Industry (证券代码: 601606) is experiencing severe abnormal fluctuations[1] - ST Yanzhen (证券代码: 603389) has reported significant trading anomalies[1] - ST Zhongdi (证券代码: 000609) has been flagged for unusual trading activity[1] Other Notable Stocks - Zhanjiang Development (证券代码: 000753) and Pudong Construction (证券代码: 600284) are also under scrutiny for trading irregularities[1] - The stock of Zhaoyi Innovation (证券代码: 603986) is being monitored for potential volatility[1] - The stock of ST Suwu (证券代码: 600200) has been highlighted for its trading behavior[1]

8月26日，*ST高鸿（维权）大宗交易成交49.96万股，成交额59.95万元，占当日总成交额的22.56%，成交价1.2元，较市场收 盘价1.2元持平。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交星 | 成交金额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | (万股/万份) | | | | | 2025-08-26 | 000851 | *ST高鸿 | 1.20 | 49.96 | ਦੇ ਹੋਵੇ | 财通证券股份有限 | 财通证券股份有限 | | | | | | | | 公司杭州文二西路 | 公司杭州文二西路 | | | | | | | | 证券营业部 | 证券营业部 | ...

Group 1 - The company experienced significant stock price fluctuations, with a cumulative decline exceeding 12% over two consecutive trading days and over 70% in 27 trading days, indicating severe abnormal trading conditions [1][4][5] - The company received a notice from the China Securities Regulatory Commission regarding potential administrative penalties for fraudulent issuance of shares and false records in annual reports from 2015 to 2023, which may lead to delisting [1][5][6] - The company has been under risk warning since August 11, 2025, due to the aforementioned issues, and is subject to further regulatory scrutiny [1][6] Group 2 - The company is involved in multiple lawsuits, with 9 cases previously filed and 12 additional cases related to similar matters, indicating ongoing legal challenges [2][3] - As of February 12, 2025, the company had a total of approximately 140 million yuan executed against its bank accounts, with a remaining balance of about 16.7 million yuan yet to be executed [2][3] - The company has faced adverse court rulings, including the rejection of jurisdictional objections, which may impact its legal standing and financial situation [2][3]

Core Viewpoint - ST Gaohong is experiencing significant stock price decline and volatility due to serious financial fraud allegations, leading to a risk of forced delisting [1][2] Group 1: Stock Performance - On August 25, 2025, ST Gaohong's stock closed at 1.26 CNY per share, down 5.26% from the previous trading day, with a trading volume of 2.75 million CNY [1] - The stock has seen a cumulative decline of 56.70% from July 18 to August 25, with a cumulative deviation value of -70.23%, categorizing it as a severely abnormal fluctuation security [1] - From August 22 to 25, the stock price dropped by 10.00%, with a cumulative deviation value of -13.32% [1] Group 2: Financial Fraud and Impact - The abnormal stock price fluctuation is closely linked to a major financial fraud incident, where ST Gaohong inflated its operating income by 19.876 billion CNY and profit by 76.2259 million CNY from 2015 to 2023 [2] - The company faces a significant risk of forced delisting due to these fraudulent activities, including a fraudulent issuance of shares amounting to 1.25 billion CNY [2] - In Q1 2025, the company reported a loss of 42.69 million CNY, with projected losses for the first half of the year between 130 million to 180 million CNY [2] Group 3: Market Position and Risks - ST Gaohong currently has a total market capitalization of 1.459 billion CNY, with a price-to-book ratio of 2.46 and a negative price-to-earnings ratio [2] - Despite being in popular sectors like telecommunications and IoT, the stock has consistently ranked among the largest decliners in the market due to the impact of financial fraud and delisting risks [2] - The company’s main bank accounts are frozen, and it is facing ongoing debt defaults and litigation, which are continuously impacting its business operations [2]

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-097 大唐高鸿网络股份有限公司 关于公司及子公司债务逾期的公告 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。 | 释义项 | 指 | 释义内容 | | --- | --- | --- | | 高鸿股份/公司 | 指 | 大唐高鸿网络股份有限公司 | | 高鸿数据 | 指 | 北京大唐高鸿数据网络技术有限公司 | 风险提示： 公司合并范围内在金融机构融资净额共计 124,779.22 万元，占公司 2024 年 12 月 31 日经审计合并报表净资产的 152%，新增逾期债务 3,000.00 万元，占 公司 2024 年 12 月 31 日经审计合并报表净资产的 3.65%，债务逾期累计发生额 为 127,485.49 万元。占公司 2024 年 12 月 31 日经审计合并报表净资产的 155.29%。 截至本公告日，已归还上述已发生逾期借款本金 2,893.38 万元，目前债务 逾期本金累计余额为 123,782.22 万元，占公司 2024 年 12 月 31 日经审计合并报 表净资 ...

Core Points - The average stock price of A-shares is 13.48 yuan, with 30 stocks priced below 2 yuan, the lowest being *ST Suwu at 1.06 yuan [1] - Among the low-priced stocks, 13 are ST stocks, accounting for 43.33% of the total [1] - On August 25, the Shanghai Composite Index closed at 3883.56 points, with 23 low-priced stocks rising, led by Rongsheng Development, *ST Suwu, and ST Lingnan [1] Group 1 - The lowest priced stock is *ST Suwu at 1.06 yuan, followed by *ST Gaohong at 1.26 yuan and *ST Jinke at 1.37 yuan [1] - The performance of low-priced stocks shows that 23 out of 30 stocks increased in price, with Rongsheng Development rising by 6.94% [1] - The highest daily turnover rate among low-priced stocks is 13.71% for Rongsheng Development [1] Group 2 - The table lists various low-priced stocks, including their latest closing prices, daily price changes, turnover rates, and industry classifications [2] - Notable stocks include *ST Gaohong with a daily decline of 5.26% and *ST Xingguang with a decline of 0.51% [2] - The industries represented among low-priced stocks include pharmaceuticals, telecommunications, real estate, coal, steel, and transportation [1][2]

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-096 大唐高鸿网络股份有限公司 关于股票交易异常波动及严重异常波动的公告 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。最终结果以中国证监会 出具的正式处罚决定书为准。公司股票自 2025 年 8 月 11 日起被深圳证券交易所 叠加实施退市风险警示。具体内容详见公司 2025 年 08 月 09 日刊登在巨潮资讯 网（www.cninfo.com.cn）的《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 ...