*ST高鸿: 关于公司股票被叠加实施退市风险警示的公告

Core Viewpoint - The company, 大唐高鸿网络股份有限公司, is under investigation by the China Securities Regulatory Commission (CSRC) for fraudulent activities related to its financial reporting and stock issuance, which may lead to mandatory delisting due to serious violations of stock exchange rules [1][5]. Group 1: Investigation and Regulatory Actions - 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 and that its annual reports from 2015 to 2023 contained false records [1][5]. - The company is facing potential mandatory delisting as it has violated the Shenzhen Stock Exchange's rules regarding serious misconduct [1][5]. Group 2: Financial Misrepresentation - From 2015 to 2023, the company inflated its revenue and profits through fictitious trade activities, resulting in a total inflated revenue of 69.4 million yuan, 245.2 million yuan, and 32.46 billion yuan across various years [2][3]. - The inflated profits during the same period amounted to 673.6 thousand yuan, 2.19 million yuan, and 894.46 thousand yuan, significantly impacting the reported financial performance [2][3]. Group 3: Impact of Fraudulent Activities - The fraudulent activities led to the company’s financial statements being deemed unreliable, with the 2023 audit report indicating uncertainty regarding the company's ability to continue as a going concern [1][2]. - The company’s stock has been subjected to risk warnings and is currently labeled as "*ST 高鸿" due to these ongoing issues [1][2].