GOHIGH(SZ:000851) Zhi Tong Cai Jing·2025-08-08 11:46Core Viewpoint - Company *ST Gao Hong (000851) 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 a notice of administrative penalty from the CSRC on August 8, 2025, indicating that its non-public stock issuance in 2020 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 the Shenzhen Stock Exchange's regulations [1] - Following the risk warning, the company's stock will continue to be labeled as "*ST Gao Hong" with the same security code "000851" [1] - The daily price fluctuation limit for the stock remains at 5% even after the addition of the delisting risk warning [1]