Rebecca(SH:600439) Nan Fang Du Shi Bao·2025-06-06 05:11Core Viewpoint - The company Rebecca (600439.SH), known as the "Wig King of Henan," has received another warning from the Henan Securities Regulatory Bureau for failing to timely disclose its 2024 performance forecast, just half a month after completing previous rectifications [2][5]. Group 1: Regulatory Issues - The core issue of the recent violation is that Rebecca did not disclose its 2024 performance forecast within one month after the end of the accounting year, leading to a reported net loss of 118 million yuan for 2024 [5]. - The company only disclosed its annual report on April 29, 2025, which is a violation of the relevant provisions of the "Management Measures for Information Disclosure of Listed Companies" [5]. - The Henan Securities Regulatory Bureau has decided to issue warning letters to the company and its key executives, including the Chairman and General Manager Zheng Wenqing, Secretary of the Board Hu Liping, and Chief Financial Officer Zhu Jianrui, and these will be recorded in the integrity archives of the securities and futures market [6]. Group 2: Previous Violations - This is not the first time Rebecca has faced penalties for information disclosure issues. On April 29, the company received a notice detailing five major problems, including failure to disclose non-operating fund transactions with related parties and inadequate provision for inventory impairment [7]. - The previous violations also included issues with insider information management and the lack of shareholder approval for certain executive compensations, which were deemed to be the responsibility of the executives involved [7]. Group 3: Financial Performance - In 2024, Rebecca reported a revenue of 1.239 billion yuan, a year-on-year increase of 1.10%, but recorded a net loss of 118 million yuan, marking the first annual loss since its listing in 2003 [9]. - The fourth quarter of 2024 was particularly challenging, with a revenue of 368 million yuan, a slight decline of 0.15%, and a net loss of 12.8 million yuan, representing a staggering year-on-year decline of 4152.68% [9]. - The company attributed its poor performance to increased marketing expenses aimed at promoting new cross-border e-commerce channels, which rose by 62% compared to the previous year, leading to nearly 30% of sales being attributed to these efforts [9]. - However, in the first quarter of 2025, Rebecca showed signs of recovery, achieving a revenue of 305 million yuan, a year-on-year growth of 11.26%, and a net profit of 6.36 million yuan, up 18.59% [9].