“跌停王”锁定退市!九年财务造假近200亿元触目惊心

Core Viewpoint - *ST Gao Hong is on the verge of delisting due to its stock price falling below 1 yuan for 15 consecutive trading days, triggering the "face value delisting" rule [2][3] Group 1: Delisting Risks - The company faces dual delisting risks: one from the stock price being below face value and another from significant legal violations [3][4] - The company has been penalized by the China Securities Regulatory Commission (CSRC) for financial fraud over several years, which may lead to forced delisting due to major violations [4][6] Group 2: Financial Fraud Details - The company has engaged in financial fraud for nine years, inflating revenue by approximately 19.8 billion yuan and profits by over 76.2 million yuan [5][6] - The fraudulent activities included fictitious trade operations that lacked commercial substance, significantly impacting reported financials [6] Group 3: Regulatory Actions and Investor Impact - The CSRC has imposed a fine of 160 million yuan on the company, raising concerns about its ability to compensate investors [7] - The company's market value has plummeted to about 463 million yuan, a significant drop from historical highs, highlighting the impact of regulatory scrutiny on the market [8] Group 4: Investor Rights and Legal Actions - Investors affected by the company's potential delisting are encouraged to take legal action to claim compensation, especially those who purchased shares between March 22, 2016, and April 29, 2024 [9][10] - The incident serves as a reminder for investors to enhance their risk awareness and thoroughly understand a company's fundamentals and financial health before investing [10]