ST Gaohong (000851.SZ) stock has been superimposed with the implementation of the delisting risk warning.

Zhijun Finance APP news, *ST Gaohong (000851.SZ) announced that the company is under investigation by the China Securities Regulatory Commission (referred to as the "China Securities Regulatory Commission") for suspected illegal disclosure of information. The company received the "Notice of Advance Administrative Penalty" (referred to as the "Notice") issued by the China Securities Regulatory Commission on August 8, 2025. According to the facts identified in the "Notice", the non-public issuance of shares by the company in 2020 constitutes fraud, and there are false records in the annual reports from 2015 to 2023. This may involve the "Shenzhen Stock Exchange Stock Listing Rules" Article 9.5.1, the first item, and Article 9.5.2, the first item (vi), which stipulates significant violations that may result in mandatory delisting.