GOHIGH(SZ:000851) Zheng Quan Zhi Xing·2025-08-17 08:15Core Viewpoint - The company, 大唐高鸿网络股份有限公司, is facing potential delisting due to serious violations, including fraudulent issuance of shares and inflated financial reports, as determined by the China Securities Regulatory Commission (CSRC) [1][2]. Group 1: Risk of Delisting - The company has been investigated by the CSRC for suspected violations of information disclosure laws, which may lead to a significant illegal forced delisting [1][2]. - The company reported inflated revenues from 2015 to 2023, with discrepancies amounting to 6.94 billion, 24.52 billion, 24.20 billion, and others, representing 9.34%, 28.27%, 26.97%, 35.18%, 49.38%, 35.38%, and 21.11% of the reported revenues for those years [1]. - The inflated profit figures for the same period included amounts of 67.36 million, 243.88 million, 242.24 million, and others, constituting 0.42%, 1.44%, 0.99%, 13.56%, 64.88%, 11.35%, and 22.11% of the reported profits [1]. Group 2: Compliance and Future Actions - The company has not yet received a formal penalty decision regarding the investigation and will cooperate fully with the CSRC while exercising its rights to hearings and defenses [2]. - The company is committed to fulfilling its information disclosure obligations as required by regulations [2]. - If the formal penalty decision confirms the violations, the company's stock will be terminated from listing [2].