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198亿元严重财务造假!重罚!强制退市!

Core Viewpoint - *ST Gaohong is facing severe financial misconduct allegations, leading to potential major illegal delisting due to significant violations of securities laws [2][5] Summary by Relevant Sections Financial Misconduct - *ST Gaohong has been found to have inflated revenue and profits through fictitious trade activities, resulting in a total inflated revenue of 19.876 billion yuan and inflated profits of 76.2259 million yuan from 2015 to 2023 [3][4] - The company also engaged in fraudulent issuance of stocks during a non-public offering in 2020, using inflated financial data from 2018 to 2020 [3][4] Regulatory Actions - The China Securities Regulatory Commission (CSRC) has proposed a fine of 1.6 billion yuan against *ST Gaohong and an additional 7 million yuan against third parties involved in the fraud [2][3] - The CSRC has initiated delisting procedures due to the company's serious violations, and relevant criminal evidence will be forwarded to law enforcement [2][5] Internal Control Issues - *ST Gaohong has been flagged for significant internal control problems, leading to its stock being marked with delisting risk warnings [5][6] - The company has received an audit report indicating uncertainty about its ability to continue as a going concern, with its stock facing additional risk warnings [5][6] Market Impact - As of August 8, *ST Gaohong's stock price was 2.21 yuan per share, with a total market capitalization of 2.6 billion yuan [6] - The company has approximately 52,000 shareholders as of July 31 [6]