*ST Gao Hong faces major illegal delisting and multiple risks*

ST Gao Hong's evening announcement: The company has been determined by the Securities Regulatory Commission to have committed major violations due to fraudulent issuance and false financial reporting. The company has received a notice of administrative penalties in advance and is facing the risk of forced delisting for major violations and trading delisting risk if the stock price remains below 1 yuan for 12 consecutive trading days.