ST Gao Hong: The company's stock closing price has been below 1 yuan for 15 consecutive trading days.

On September 21, ST Gaohong announced that the company's stock closing price had deviated from the previous day's closing price by more than 12% for three consecutive trading days, which constituted abnormal volatility in the stock trading, according to the relevant regulations of the Shenzhen Stock Exchange. On September 1, 2025, the company's stock closing price was 0.98 yuan per share, marking the first time that the company's stock closing price fell below 1 yuan. The company faces the risk of being delisted due to its stock price falling below par value. According to Articles 9.2.1 and 9.2.3 of the Shenzhen Stock Exchange Listing Rules, for companies listed only with A-shares on the Shenzhen Stock Exchange, if the company's stock closing price remains below 1 yuan for 20 consecutive trading days on the Shenzhen Stock Exchange trading system, the Shenzhen Stock Exchange will terminate its stock listing. Stocks that are delisted due to mandatory delisting criteria do not enter the delisting period. As of September 19, 2025, the company has had fifteen consecutive trading days with its stock closing price below 1 yuan, increasing the risk of being delisted due to its stock price falling below par value.