Secoo Receives NASDAQ Notice Related to Late Filing of Form 20-F
May 19 2023 - 8:00AM
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 letter from the NASDAQ Stock Market, dated May 18, 2023
(the “Delinquency Letter”), notifying the Company that it is not in
compliance with the requirements for continued listing set forth in
NASDAQ Listing Rule 5250(c)(1) because it did not timely file its
annual report on Form 20-F for the year ended December 31, 2022
(the “2022 Annual Report”).
In accordance with NASDAQ Listing Rules, the Company has 60
calendar days from the date of the Delinquency Letter to submit a
plan to regain compliance with NASDAQ Listing Rules (the
“Compliance Plan”). If NASDAQ accepts the Compliance Plan, NASDAQ
may grant the Company an extension until November 13, 2023 to
regain compliance. Secoo intends either to file its 2022 Annual
Report or submit the Compliance Plan within the prescribed 60-day
period.
The Deficiency Letter has no immediate impact on the listing of
the Company’s ordinary shares represented by American depositary
shares on the Nasdaq Capital Market.
This announcement is made in compliance with NASDAQ Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification.
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 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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