Hongboli: The company and its largest shareholder have received a warning letter from Jiangsu Securities Regulatory Bureau.

Red Beauty announced that the company and its largest shareholder, Jiangsu Baoyuan Investment Management Co., Ltd., along with related personnel, received a warning letter from the Jiangsu Securities Regulatory Bureau for violating information disclosure regulations. An investigation found that Red Beauty's subsidiary provided funds to its controlling shareholder, Baoyuan Investment, through advance payments in June 2022 and February 2024, which constituted non-operating fund occupation by related parties, and the related transactions were not disclosed in a timely manner. In addition, there were under-reported amounts from the top five suppliers in the company's 2021 and 2023 annual reports, resulting in inaccurate information disclosure.