Secoo Regains Compliance with Nasdaq’s Minimum Bid Price Requirement
December 13 2022 - 6:00AM
Secoo Holding Limited (“Secoo” or the
“Company”) (NASDAQ: SECO), Asia’s leading online integrated upscale
products and services platform, today announced that it has
received a written notification letter (the “Compliance Notice”)
from the Listing Qualifications Department of the Nasdaq Stock
Market (“Nasdaq”) dated December 12, 2022, informing the Company
that it has regained compliance with the Nasdaq Listing Rule
5550(a)(2) (the “Minimum Bid Price Requirement”).
As previously disclosed, on December 17, 2021,
the Company received a letter from Nasdaq indicating that the
Company was not in compliance with the Listing Rules of The Nasdaq
Stock Market, as the closing bid price of the American Depositary
Shares (the “ADSs”) had been below US$1.00 per ADS for the previous
30 consecutive business days. According to the Compliance Notice,
the closing bid price of the Company’s ADSs has been at $1.00 per
ADS or greater for 10 consecutive business days from November 28 to
December 9, 2022, and the Company has regained compliance with the
Minimum Bid Price Requirement and the matter is closed.
About Secoo Holding Limited
Secoo Holding Limited (“Secoo”) is Asia’s
leading online integrated upscale products and services platform.
Secoo provides customers a wide selection of authentic upscale
products and lifestyle services on the Company’s integrated online
and offline shopping platform which consists of the Secoo.com
website, mobile applications and offline experience centers,
offering over 420,000 SKUs, covering over 3,800 global and domestic
brands. Supported by the Company’s proprietary database of upscale
products, authentication procedures and brand cooperation, Secoo is
able to ensure the authenticity and quality of every product
offered on its platform.
For more information, please visit http://ir.secoo.com.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include but are not limited to Secoo management quotes and the
Company’s financial outlook. These forward-looking statements can
be identified by terminology such as “will,” “estimate,” “project,”
“predict,” “believe,” “expect,” “anticipate,” “intend,”
“potential,” “plan,” “goal” and similar statements. Secoo Holding
Limited may also make written or oral forward-looking statements in
its periodic reports to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Such statements
involve certain risks and uncertainties that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements. These forward-looking statements
include, but are not limited to, statements about: the Proposed
Transaction, the Company’s goals and strategies; its future
business development, financial condition and results of
operations; its ability to attract and retain new customers and to
increase revenues generated from repeat customers; its expectations
regarding demand for and market acceptance of its products and
services; trends and competition in China’s e-commerce market;
changes in its revenues and certain cost or expense items; the
expected growth of the Chinese e-commerce market; Chinese
governmental policies relating to the Company’s industry and
general economic conditions in China. For additional information on
these and other important factors that could adversely affect the
Company's business, financial condition, results of operations and
prospects, please see its filings with the U.S. Securities and
Exchange Commission.
Secoo Holding Limited does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law. All information provided in this
press release and in the attachments is as of the date of this
press release, and Secoo Holding Limited undertakes no duty to
update such information, except as required under applicable
law.
For investor and media inquiries, please
contact:
In China:Secoo Holding LimitedJingbo MaTel: +86 10
6588-0135E-mail: ir@secoo.com
The Piacente Group, Inc.Jenny CaiTel: +86 (10)
6508-0677E-mail: Secoo@tpg-ir.com
In the United States:The Piacente Group, Inc. Brandi
PiacenteTel: +1-212-481-2050E-mail:
Secoo@tpg-ir.com
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