Stock Code: 000851
Stock Abbreviation: *ST Gaohong
Announcement Number: 2025-132
Dagang Gaohong Network Co., Ltd. announces the tenth risk warning regarding the possible delisting of its stock due to the stock price being below par value and the first risk warning regarding the market value of the company's stock falling below 500 million yuan.
The company and all members of the board guarantee that the content of this announcement is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Special Reminder:
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As of September 24, 2025, the closing price of Dagang Gaohong Network Co., Ltd. (hereinafter referred to as "the Company") has been below 1 yuan for 18 consecutive trading days. According to Article 9.2.1 and Article 9.1.15 of the Shenzhen Stock Exchange Listing Rules (hereinafter referred to as "Listing Rules"), if a company listed on the Shenzhen Stock Exchange that only issues A-shares has a closing price below 1 yuan for 20 consecutive trading days, the Shenzhen Stock Exchange will terminate its stock listing. Stocks that are delisted due to trading-related mandatory delisting situations will not enter the delisting arrangement period. Investors are advised to pay attention to investment risks.
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As of September 24, 2025, the company's stock closing price was 0.42 yuan, with a market value of 486 million yuan, which is below 500 million yuan. According to Article 9.2.1 of the Listing Rules, if the company's stock closing market value is below 500 million yuan for 20 consecutive trading days, the company's stock will be terminated from listing. Investors are advised to pay attention to investment risks.
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According to Article 9.2.4 of the Listing Rules, if a company listed on the Shenzhen Stock Exchange that only issues A-shares has a closing price below 1 yuan for 10 consecutive trading days, it must disclose a risk warning announcement regarding the possible termination of its stock listing before the next trading day opens, and subsequently disclose it every trading day until the situation is resolved or the termination of listing occurs (whichever comes first). According to Article 9.2.1 of the Listing Rules, if the company first appears with a stock closing market value below 500 million yuan, it must disclose a risk warning announcement regarding the possible termination of its stock listing before the next trading day. Based on this regulation, the company must disclose a risk warning announcement regarding the possible termination of its stock listing. Investors are advised to pay attention to investment risks.