Core Viewpoint - The company intends to purchase directors, supervisors, and senior management liability insurance to enhance its risk management system and protect investor interests [1][2]. Group 1: Insurance Purchase Proposal - The company plans to buy liability insurance for all directors, supervisors, and senior management to mitigate operational risks [1]. - The proposal will be submitted directly to the shareholders' meeting for approval, as all directors and supervisors are considered interested parties and will abstain from voting [1]. Group 2: Authorization Matters - The shareholders' meeting will authorize the management to handle all matters related to the purchase of the liability insurance, including determining other insured parties, selecting insurance companies, and setting insurance terms [2]. - The authorization will remain valid until the end of the current board's term, allowing for renewal or reinsurance without further approval [2].

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-073 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。 公司定于2025年07月31日（星期四）召开2025年第三次临时股东大会。会议具体 事项如下： 一、召开会议的基本情况 1．股东大会届次：2025年第三次临时股东大会 2．股东大会的召集人：公司董事会 3．本公司董事会第十届第二十一次会议决定，提请召开公司2025年第三次临时股 东大会，召集程序符合有关法律法规、行政规章、其他规范性文件及《公司章程》的 规定。 4.会议召开日期和时间： 大唐高鸿网络股份有限公司 关于召开 2025 年第三次临时股东大会的通知 现场会议召开时间：2025年07月31日（星期四）14时30分； 网络投票时间：通过互联网投票系统投票时间为2025年07月31日（星期四）上午 9:15至2025年07月31日15:00的任意时间；通过交易系统进行网络投票的时间为2025 年07月31日（星期四）上午9:15～9:25、9:30～11:30，下午13:00～15:00。 5.召开方式： 本次股东大会采取现场投票方式 ...

本公司及监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：2025-071 大唐高鸿网络股份有限公司 第十届监事会第十二次会议决议公告 具体内容详见公司同日刊登在巨潮资讯网（www.cninfo.com.cn）的公告《关 于购买董监高责任险的公告》。 特此公告。 大唐高鸿网络股份有限公司监事会 2025年07月15日 大唐高鸿网络股份有限公司第十届监事会第十二次会议于2025年07月09日 发出通知，于2025年07月15日以通讯方式召开。会议由监事会主席高雪峰先生主 持，会议应到监事3人，实到监事3人。会议的人数及程序符合《公司法》和本公 司章程的规定，会议合法有效。 经与会监事审议了以下议案： 一、审议《关于购买董监高责任险的议案》，并出具审阅意见。 同意：0票；反对：0票；弃权：0票。 经审核，监事会认为：公司为全体董事、监事、高级管理人员及相关责任人 员购买责任险有利于完善公司风险管理体系，促进相关责任人员在各自职责范围 内更充分地发挥决策、监督和管理的职能。本次公司购买董监高责任险履行了必 要的审议程序 ...

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-070 大唐高鸿网络股份有限公司 第十届董事会第二十一次会议决议公告 一、审议《关于购买董监高责任险的议案》 同意：0 票；反对：0 票；弃权：0 票。 公司全体董事均为被保险人，属于利益相关方，全体董事对此议案回避表 决。此议案将直接提交最近一次股东大会审议。 具体内容详见公司同日刊登在巨潮资讯网（www.cninfo.com.cn）的《关于 购买董监高责任险的公告》。 二、审议通过《关于召开 2025 年第三次临时股东大会的议案》 同意：7 票；反对：0 票；弃权：0 票。 提请召开 2025 年第三次临时股东大会审议如下议案： 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。 根据公司章程规定，大唐高鸿网络股份有限公司第十届董事会第二十一次会 议于 2025 年 07 月 09 日发出会议通知，于 2025 年 07 月 15 日以通讯方式召开。 会议由公司董事长付景林先生主持，应到董事 7 人，实到董事 7 人。会议的人数 及程序符合《公司法》和本公司章程的规定，会议合法有效。公司监事、 ...

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-072 大唐高鸿网络股份有限公司 关于购买董监高责任险的公告 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。 大唐高鸿网络股份有限公司（以下简称 "公司"）于 2025 年 7 月 15 日召 开第十届董事会第二十一次会议、第十届监事会第十二次会议，分别审议了《关 于购买董监高责任险的议案》。为进一步完善公司风险管理体系，促进公司董事、 监事及高级管理人员等在其职责范围内充分行使职权、履行职责，降低公司运营 风险，保障广大投资者利益，根据《上市公司治理准则》等有关规定。公司拟为 公司及控股子公司的全体董事、监事、高级管理人员购买责任保险（以下简称"董 监高责任险"）。由于公司全体董事、监事均为被保险人，属利益相关方，全体 董事、监事对该议案回避表决，该议案直接提交公司股东大会审议。现将相关事 项公告如下： 一、 投保方案主要内容 2.被保险人:公司及控股子公司的全体董事、监事、高级管理人员（具体以正 式签署的保险合同确定的范围为准） 3.赔偿限额:不超过人民币 5000 万元/年（具体以正式签 ...

Core Viewpoint - The Shanghai and Shenzhen Stock Exchanges plan to adjust the price fluctuation limit for risk warning stocks from 5% to 10%, aiming to enhance pricing efficiency in the market [2][9]. Group 1: Risk Warning Stocks - Risk warning stocks include "*ST" and "ST" stocks, which are subject to trading restrictions due to financial irregularities that may lead to forced delisting [2]. - As of July 2, there are 99 "*ST" stocks and 74 "ST" stocks in the main boards of the Shanghai and Shenzhen markets [2]. - "*ST" stocks have a higher risk of delisting compared to "ST" stocks, with most stocks that were forcibly delisted this year being "*ST" stocks [2]. Group 2: Stock Performance - Stocks that received a "*ST" designation often experience significant price declines prior to delisting, with examples showing price drops between 75% and 92% in the year leading up to their delisting [2]. - For instance, after being designated as "*ST", Taihe Water's stock price fell by 20% in the month prior to the announcement and dropped 9.54% on the announcement day [3]. - Highong Co. transitioned from "ST" to "*ST" in April 2024, with its stock price declining by 48% over the year and an additional 9% from the beginning of the year to July 2 [4]. Group 3: Market Implications - The adjustment of the fluctuation limit to 10% means that if a company's fundamentals improve, its stock price can rise more quickly, and conversely, if the fundamentals worsen, the stock price can fall rapidly, potentially leading to faster delisting [9]. - Experts advise that ordinary investors should avoid "*ST" and "ST" stocks due to their inherent risks and historical performance trends [9].

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-068 大唐高鸿网络股份有限公司 关于公司暂时无法按期归还用于补充流动资金的募集资金 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。 大唐高鸿网络股份有限公司（以下简称："公司"）于 2024 年 7 月 4 日召 开的第十届董事会第六次会议、第十届监事会第四次会议，审议通过了《关于延 期归还闲置募集资金并继续用于暂时补充流动资金的议案》，延期归还公司非公 开发行股票募集资金不超过人民币 4.90 亿元并继续用于暂时补充流动资金，延 期归还期限自董事会审议通过之日起不超过 12 个月。2024 年 11 月 15 日，公司 收到中国证券监督管理委员会贵州监管局做出的《关于对大唐高鸿网络股份有限 公司采取责令改正措施的决定》（以下简称"《决定书》"），认定公司存在使 用闲置募集资金暂时补充流动资金未能按时偿还、变更部分募集资金用途未按规 定履行审议程序和信息披露义务的违规行为。要求公司针对信息披露的合规性、 募集资金的安全性、内部控制的有效性等及时开展全面排查，并提交书面整改报 告。公司 ...

证券代码：000851 证券简称：*ST 高鸿 公告编号：2025-068 大唐高鸿网络股份有限公司 关于公司暂时无法按期归还用于补充流动资金的募集资金 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。 大唐高鸿网络股份有限公司（以下简称："公司"）于 2024 年 7 月 4 日召 开的第十届董事会第六次会议、第十届监事会第四次会议，审议通过了《关于延 期归还闲置募集资金并继续用于暂时补充流动资金的议案》，延期归还公司非公 开发行股票募集资金不超过人民币 4.90 亿元并继续用于暂时补充流动资金，延 期归还期限自董事会审议通过之日起不超过 12 个月。2024 年 11 月 15 日，公司 收到中国证券监督管理委员会贵州监管局做出的《关于对大唐高鸿网络股份有限 公司采取责令改正措施的决定》（以下简称"《决定书》"），认定公司存在使 用闲置募集资金暂时补充流动资金未能按时偿还、变更部分募集资金用途未按规 定履行审议程序和信息披露义务的违规行为。要求公司针对信息披露的合规性、 募集资金的安全性、内部控制的有效性等及时开展全面排查，并提交书面整改报 告。公司 ...

[2025 Half-Year Performance Forecast](index=1&type=section&id=%E4%B8%9A%E7%BB%A9%E9%A2%84%E8%AE%A1%E6%83%85%E5%86%B5) [Overview of Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E8%AE%A1%E6%83%85%E5%86%B5) The company anticipates a significant net loss of RMB 130-180 million for H1 2025, a sharp reversal from prior year's profit, alongside substantial revenue decline Comparison of H1 2025 Performance Forecast with Prior Year | Indicator | H1 2025 Forecast (Current Fiscal Year) | H1 2024 (Prior Year) | Unit | | :--- | :--- | :--- | :--- | | Total Profit | Loss 13,000 - 18,000 | Loss 128.39 | RMB 10,000 | | Net Profit Attributable to Shareholders of Listed Company | Loss 13,000 - 18,000 | Profit 457.73 | RMB 10,000 | | Net Profit After Deducting Non-Recurring Gains and Losses | Loss 13,500 - 18,500 | Loss 13,287.84 | RMB 10,000 | | Basic Earnings Per Share | Loss 0.11 - 0.16 | Profit 0.004 | RMB/share | | Operating Revenue | 34,000 - 46,500 | 77,677.21 | RMB 10,000 | | Operating Revenue After Deduction | 33,500 - 46,000 | 77,177.51 | RMB 10,000 | | Shareholders' Equity Attributable to Shareholders of Listed Company | 39,500 - 55,000 | 290,885.07 | RMB 10,000 | [Pre-Audit Status of Performance Forecast](index=1&type=section&id=%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E9%A2%84%E5%AE%A1%E8%AE%A1%E6%83%85%E5%86%B5) [Pre-Audit Status](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E9%A2%84%E5%AE%A1%E8%AE%A1%E6%83%85%E5%86%B5) The financial data involved in this performance forecast has not been audited by an accounting firm - The financial data related to this performance forecast has not been audited by an accounting firm[2](index=2&type=chunk) [Explanation of Performance Changes](index=1&type=section&id=%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) [Main Reasons for Loss](index=1&type=section&id=%E4%B8%89%E3%80%81%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E5%8E%9F%E5%9B%A0%E8%AF%B4%E6%98%8E) The net loss is primarily due to significantly increased interest expenses from overdue loans and severe business disruptions from frozen bank accounts, litigation, and debt defaults - Significant increase in interest expenses for H1 2025 due to overdue loans, including penalties and compound interest, reducing current period profit[3](index=3&type=chunk) - Key bank accounts of the company and some subsidiaries are frozen, with numerous lawsuits and debt defaults severely impacting business development and reducing revenue scale[3](index=3&type=chunk) [Risk Warning](index=1&type=section&id=%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) [Nature of Performance Forecast and Investment Risks](index=1&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) This performance forecast is a preliminary estimate; final data will be in the H1 2025 report, investors are advised to note investment risks - This performance forecast is a preliminary estimate by the company's finance department; specific financial data will be based on the officially disclosed H1 2025 report[4](index=4&type=chunk)[5](index=5&type=chunk) - Investors are kindly advised to pay attention to investment risks[5](index=5&type=chunk)

Core Viewpoint - The company, 大唐高鸿网络股份有限公司, is currently involved in multiple legal disputes, primarily related to financial contracts and obligations, which may impact its financial stability and future profitability [2][12]. Summary by Sections New Litigation and Arbitration Matters - The company is facing a lawsuit from the Bank of Communications Beijing Branch regarding a factoring contract dispute, with a claim amounting to approximately RMB 58.67 million [3]. - The company is also involved in a financial loan dispute with Shanghai Pudong Development Bank Nanjing Branch, with a claimed amount of RMB 40 million, plus interest and penalties totaling RMB 1,040,081.21 as of February 13, 2025 [7][10]. - Another case involves a loan of RMB 50 million from the same bank, with similar claims for unpaid principal and interest [11]. Contractual Obligations and Terms - The factoring agreement stipulates that the financing is non-recourse, with interest paid upfront, and includes provisions for penalties in case of non-payment [4][5]. - The loan agreements specify that the interest rate is based on the LPR plus a margin, with penalties for late payments [9][10]. Financial Impact and Company Position - The company acknowledges the uncertainty regarding the financial impact of these ongoing legal matters on its current and future profits, indicating a need for careful accounting treatment based on actual developments [12]. - As of the announcement date, the company has no undisclosed significant litigation or arbitration matters [12]. Summary of Legal Proceedings - The company has been involved in numerous legal proceedings, with a total of 35 small claims against it, amounting to approximately RMB 6.69 million, and 18 claims where it is the plaintiff, totaling around RMB 1.58 million [15].