Core Viewpoint - The company, Rebecca (600439), is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure regulations, which has raised concerns about its governance and financial performance [1][2]. Regulatory Issues - Rebecca has faced multiple administrative regulations from the Henan Securities Regulatory Bureau this year, including a corrective order due to several disclosure issues [2][3]. - Specific problems identified include failure to disclose non-operating fund transactions with related parties, inadequate provision for inventory impairment, and non-compliance with insider information management [3]. Financial Performance - In 2024, Rebecca reported its first loss since going public, with a revenue of 1.239 billion yuan, a year-on-year increase of 1.1%, but a net profit of -118 million yuan, indicating a shift from profit to loss [4]. - The loss was attributed to increased marketing expenses related to online sales channels, which accounted for nearly 30% of main business revenue, and a 62% increase in marketing costs compared to the previous year [4]. - In Q1 2025, Rebecca achieved revenue of 305 million yuan, a year-on-year growth of 11.26%, and a net profit of 6.361 million yuan, reflecting a recovery trend [4]. Market Position - As of July 25, the company's stock price was 3.7 yuan per share, with a total market capitalization of 4.188 billion yuan [5].