Ge Long Hui A P P·2025-08-08 10:56Core Viewpoint - Company *ST Gao Hong (000851.SZ) is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may lead to significant penalties including forced delisting [1] Summary by Relevant Sections - Investigation and Allegations - The company received an administrative penalty notice from the CSRC on August 8, 2025, indicating that its non-public stock issuance in 2020 constituted fraudulent issuance [1] - Annual reports from 2015 to 2023 were found to contain false records, which could trigger major violations under the Shenzhen Stock Exchange listing rules [1] - Potential Consequences - The company may face forced delisting due to the serious violations identified, as per the Shenzhen Stock Exchange listing rules [1] - Following the imposition of risk warnings, the company's stock will continue to be labeled as "*ST Gao Hong" with the same security code "000821" [1] - The daily price fluctuation limit for the stock remains at 5% even after the risk warning is applied [1]