GOHIGH(SZ:000851) Nan Fang Du Shi Bao·2025-08-09 05:04Core Viewpoint - The China Securities Regulatory Commission (CSRC) announced penalties against *ST Gaohong for long-term financial fraud, including inflated revenues and profits, leading to potential delisting from the Shenzhen Stock Exchange [1][2][5]. Group 1: Financial Fraud Details - *ST Gaohong engaged in fictitious trading activities, particularly in the notebook computer sector, resulting in inflated revenues and profits from 2015 to 2023 [2][3]. - The company reported inflated operating revenues of 6.94 billion, 24.52 billion, 24.20 billion, 30.63 billion, 56.34 billion, 24.80 billion, and 18.05 billion for the years 2015 to 2021, respectively [3]. - Additionally, *ST Gaohong's fraudulent activities included IT systems and server trades, leading to further inflated revenues of 1.96 billion and 308.19 million in 2018 and 2020, respectively [4]. Group 2: Penalties and Responsible Parties - The CSRC proposed a total fine of 1.6 billion for *ST Gaohong and 7 million for third parties involved in the fraud [1][5]. - Key individuals responsible for the fraud include Chairman Fu Jinglin and CFO Ding Mingfeng, who face significant fines and potential market bans [10]. - The penalties also extend to the actual controller of Nanjing Qingya, Jiang Qing, who is implicated in the fraudulent activities alongside *ST Gaohong [10].