智通财经网·2025-08-08 11:45Core 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 2020 private placement of shares constituted fraudulent issuance [1] - The annual reports from 2015 to 2023 are found to contain false records, which may 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, which are in accordance with Article 9.5.1 and Article 9.5.2 of the Shenzhen Stock Exchange listing rules [1] - Following the risk warning, the company's stock will continue to be labeled as *ST Gao Hong, with the stock code remaining 000851, and the daily price fluctuation limit will still be set at 5% [1]