GOHIGH(SZ:000851) Di Yi Cai Jing·2025-08-09 11:06Core Viewpoint - *ST Gaohong has been found guilty of financial fraud amounting to nearly 20 billion yuan over a period of nine years, resulting in a fine of 160 million yuan and potential delisting from the stock exchange [1] Group 1: Financial Fraud Details - The China Securities Regulatory Commission (CSRC) has reported severe penalties against *ST Gaohong for serious financial fraud, which included inflated revenues and profits through non-substantial business activities [1] - The company engaged in "empty turnover" and "single transactions" related to notebook computers, violating securities laws and regulations [1] - The CSRC plans to impose a fine of 160 million yuan on responsible parties and an additional 7 million yuan on third parties involved in the fraud [1] Group 2: Regulatory Actions - Due to the severity of the fraud, the Shenzhen Stock Exchange will initiate delisting procedures as the company is suspected of major violations [1] - The CSRC has indicated that any potential criminal evidence will be transferred to law enforcement agencies in accordance with relevant regulations [1] - This case follows the earlier crackdown on Yuebo Power, which was also delisted due to financial fraud, highlighting the regulatory body's zero-tolerance stance towards such misconduct [1] Group 3: Shareholder Information - As of July 31, *ST Gaohong had a total of 52,000 shareholders, including a private equity fund among its top ten shareholders [2]