Secoo Announces Changes in Board of Directors
Secoo Holding Limited (NASDAQ: SECO) has appointed Ms. Qi Zhu to its Board of Directors, effective immediately, while Ms. Jeacy Jisheng Yan has stepped down after nine years. Ms. Zhu brings valuable experience from her role as Vice President at Qudian Inc. and previously at Credit Suisse in capital markets. The company anticipates collaboration with Qudian in supply-chain and customer acquisition. Secoo is recognized as Asia’s largest online platform for upscale products and services, emphasizing authenticity and quality.
- Appointment of Ms. Qi Zhu is expected to enhance the Board's financial expertise and strategic direction.
- Collaboration with Qudian may strengthen supply-chain and customer acquisition efforts, potentially boosting revenue.
- Departure of Ms. Jeacy Jisheng Yan may result in a gap in continuity and experience on the Board.
BEIJING, June 17, 2020 (GLOBE NEWSWIRE) -- Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ: SECO), Asia’s largest online integrated upscale products and services platform, today announced that its Board of Directors (the “Board”) has approved the appointment of Ms. Qi Zhu as a member of the Board, effective immediately. At the same time, Ms. Jeacy Jisheng Yan will step down from the Board with immediate effect after nine years of dedicated service.
Ms. Zhu currently serves as Vice President of Qudian Inc. (“Qudian”, NYSE:QD) and is responsible for Qudian’s financial analysis and capital markets activities. Prior to joining Qudian, Ms. Zhu worked at the investment banking department of Credit Suisse in Hong Kong, where she worked on various capital markets transactions. Ms. Zhu holds a BBA degree from the University of Hong Kong.
Mr. Richard Rixue Li, Chairman and Chief Executive Officer of Secoo, commented, “We are delighted to have successfully closed the transaction with Qudian and welcome Ms. Zhu to our Board. We look forward to closely collaborating with Qudian in various areas such as supply-chain and customer acquisition. We are also grateful for Ms. Yan’s long-term contribution to our Board.”
About Secoo Holding Limited
Secoo Holding Limited (“Secoo”) is Asia’s largest online integrated upscale products and services platform as measured by GMV in 2016. 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 400,000 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 Limited
Jingbo Ma
Tel: +86 10 6588-0135
E-mail: ir@secoo.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: Secoo@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: Secoo@tpg-ir.com
FAQ
What recent changes occurred in Secoo's Board of Directors?
Who is Ms. Qi Zhu and what experience does she bring to Secoo?
What potential impact does the Board change have on Secoo's operations?
What is the significance of Ms. Jeacy Jisheng Yan's departure from Secoo's Board?
