Secoo Receives Additional Delinquency Letter from Nasdaq Regarding Late Filing of Periodic Report on Form 6-K
January 10 2024 - 8:00AM
Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ: SECO)
today announced that on January 5, 2024, it received an additional
delinquency letter from The Nasdaq Stock Market LLC (“Nasdaq”),
notifying the Company that (i) the Company is not in compliance
with Nasdaq’s continued listing requirements set forth in Nasdaq
Listing Rule 5250(c)(1) due to the Company’s failure to file its
Form 6-K containing an interim balance sheet and income statement
as of the end of its second quarter ended June 30, 2023, which
serves as an additional basis for delisting the Company’s
securities from Nasdaq, and (ii) the Nasdaq Hearings Panel (the
“Panel”) will consider this matter in rendering a determination
regarding the Company’s continued listing on Nasdaq. The Nasdaq
additional delinquency letter has no immediate effect on the
listing or trading of the Company’s American Depositary Shares (the
“ADSs”) on Nasdaq.
As previously disclosed, on November 14, 2023, Nasdaq notified
the Company that a Staff Delisting Determination was issued because
the Company was not in compliance with Nasdaq Listing Rule
5250(c)(1) due to the Company’s failure to file its annual report
on Form 20-F for the year ended December 31, 2022. The Company
subsequently appealed the Staff Delisting Determination to delist
the Company’s ADSs from Nasdaq to the Panel and further requested
an extension of the stay of suspension from Nasdaq. Nasdaq notified
the Company that a hearing will be held on February 13, 2024, and
the Panel granted the Company request to extend the stay of
suspension pending the hearing and issuance of a final Panel
decision. The Company is required to address this additional
deficiency regarding late filing of periodic report on Form 6-K to
the Panel no later than January 24, 2024. The Company plans to
present its plan to regain compliance with applicable listing
requirements to the Panel in a timely manner.
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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