Secoo Announces Equity Investment Led by Private Equity Firm HCYK
19 Agosto 2022 - 1:30PM
Secoo Holding
Limited (“Secoo” or the “Company”)
(NASDAQ: SECO), Asia’s leading online integrated upscale products
and services platform, today announced it has entered into Share
Purchase Agreements with each of Beijing HCYK Corporation
Management Partner (“HCYK”) and Timing Capital Limited (“Timing
Capital”).
Pursuant to the Share Purchase Agreements, HCYK
will subscribe for 3,750,000 Class A ordinary shares of the Company
for an aggregate price of US$3 million, and Timing Capital will
subscribe for 1,250,000 Class A ordinary shares of the Company for
an aggregate price of US$1 million. The closing of the transaction
is subject to customary closing conditions, including such closing
condition that HCYK obtains all required governmental approvals in
China for its overseas direct investment in the Company.
“This important infusion will provide Secoo with
the capital to implement our robust growth initiatives,” said Mr.
Richard Rixue Li, Chairman and Chief Executive Officer of Secoo.
“Investment from HCYK and Timing Capital represents a strong vote
of confidence in our position as a prominent destination for luxury
online shopping in China. We are thrilled to welcome new investors
to be part of our next-phase growth story. Furthermore, we
appreciate the continued support from existing investors as we make
strides in implementing our near-term objectives.”
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 expected
closing of the transaction in this announcement, 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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