Secoo Receives Delisting Notice from Nasdaq and Plans to Request Hearing
17 Novembre 2023 - 10:30PM
Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ: SECO)
today announced that on November 14, 2023, it received a Staff
Delisting Determination (the “Staff Determination”) from the
Listing Qualifications Staff of The Nasdaq Stock Market LLC
(“Nasdaq”), which notified the Company that the Nasdaq Listing
Qualifications Staff has initiated a process to delist the
Company’s American Depositary Shares (the “ADSs”) from Nasdaq. The
Staff Determination will not immediately result in the suspension
of trading or delisting of the Company’s ADSs, and the Nasdaq
Listing Rules provide a procedure for the Company to appeal the
Staff Determination to a Nasdaq Hearings Panel and seek a stay of
suspension pending the outcome of the hearing, as described below.
The Staff Determination was issued because the Company had not
filed its annual report on Form 20-F for the year ended December
31, 2022 (the “Form 20-F”), on or before the Extended Date (as
defined below). As previously disclosed, on May 18, 2023, the
Company received a notice from Nasdaq Listing notifying the Company
that, because the Company had not timely filed the Form 20-F with
the U.S. Securities and Exchange Commission (the “SEC”), the
Company was not in compliance with Nasdaq Listing Rule 5250(c)(1),
which requires timely filing of all required periodic financial
reports. After the Company made a submission to Nasdaq describing
its plan to regain compliance with this rule, the Company was
granted an extension until November 13, 2023 (the “Extended Date”),
to file its Form 20-F.
The Company plans to timely request a hearing before the Nasdaq
Hearings Panel to present its plan to regain compliance with the
applicable listing requirements. Such a request will stay the
suspension of the Company’s ADSs and delisting action for a period
of 15 days from the date of the request. In connection with its
request for a hearing, the Company also plans to request an
extended stay of the suspension, pending the determination of the
Nasdaq Hearings Panel. According to the Staff Determination,
hearings are typically scheduled to occur approximately 30-45 days
after the date of a company’s hearing request.
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
Grafico Azioni Secoo (NASDAQ:SECO)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Secoo (NASDAQ:SECO)
Storico
Da Lug 2023 a Lug 2024