{"id":775577,"date":"2023-08-04T11:37:31","date_gmt":"2023-08-04T15:37:31","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\/"},"modified":"2023-08-04T11:37:31","modified_gmt":"2023-08-04T15:37:31","slug":"secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\/","title":{"rendered":"Secoo Announces Receipt of Minimum Bid Price Notice from Nasdaq"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">BEIJING, Aug.  04, 2023  (GLOBE NEWSWIRE) &#8212; Secoo Holding Limited (\u201cSecoo\u201d or the \u201cCompany\u201d) (NASDAQ: SECO), Asia\u2019s leading online integrated upscale products and services platform, today announced that it has received a written notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC (\u201cNasdaq\u201d) dated August 1, 2023, indicating that because the closing bid price of the Company\u2019s American Depositary Shares (\u201cADSs\u201d) for the last 30 consecutive business days was below US$1.00 per share, the Company no longer meets the Nasdaq minimum bid price requirement, set forth in Nasdaq Listing Rule 5550(a)(2).<\/p>\n<p>Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until January 29, 2024, to regain compliance under the Nasdaq Listing Rules. If at any time during the 180-day compliance period, the closing bid price of the Company\u2019s ADSs is at lease US$1.00 per sharefor a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and that matter will be closed.<\/p>\n<p>In the event the Company does not regain compliance by January 29, 2024, the Company may be eligible for an additional compliance period of 180 calendar days period to regain compliance. To qualify, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the bid price requirement, and will need to provide written notice of its intention to cure the deficiency during the second compliance period, including by effecting a reverse stock split, if necessary. If the Company meets these requirements, Nasdaq will inform the Company that it has been granted an additional 180 calendar days. However, if the Company will not be able to cure the minimum bid price deficiency, or if the Company is otherwise not eligible for an additional compliance period, Nasdaq will provide notice that its ADSs will be subject to delisting. In that event, the Company may appeal the delisting determination to a Hearings Panel.<\/p>\n<p>The Nasdaq notification letter will have no effect on the Company\u2019s business operations, and the Company will take all reasonable measures to regain compliance.<\/p>\n<p>\n        <strong>About Secoo Holding Limited<\/strong>\n      <\/p>\n<p>Secoo Holding Limited (\u201cSecoo\u201d) is Asia\u2019s leading online integrated upscale products and services platform. Secoo provides customers a wide selection of authentic upscale products and lifestyle services on the Company\u2019s 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\u2019s 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.<\/p>\n<p>For more information, please visit http:\/\/ir.secoo.com.<\/p>\n<p>\n        <strong>Safe Harbor Statement<\/strong>\n      <\/p>\n<p>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\u2019s financial outlook. These forward-looking statements can be identified by terminology such as \u201cwill,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cpredict,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cpotential,\u201d \u201cplan,\u201d \u201cgoal\u201d 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\u2019s 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\u2019s 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\u2019s industry and general economic conditions in China. For additional information on these and other important factors that could adversely affect the Company\u2019s business, financial condition, results of operations and prospects, please see its filings with the U.S. Securities and Exchange Commission.<\/p>\n<p>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.<\/p>\n<p>For investor and media inquiries, please contact:<\/p>\n<p>In China:<br \/>Secoo Holding Limited<br \/>Jingbo Ma<br \/>Tel: +86 10 6588-0135<br \/>E-mail: ir@secoo.com<\/p>\n<p>The Piacente Group, Inc.<br \/>Jenny Cai<br \/>Tel: +86 (10) 6508-0677<br \/>E-mail: Secoo@tpg-ir.com<\/p>\n<p>In the United States:<br \/>The Piacente Group, Inc. <br \/>Brandi Piacente<br \/>Tel: +1-212-481-2050<br \/>E-mail: Secoo@tpg-ir.com<\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4NzY1MiM1NzM3ODc4IzIwOTAzOTg=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/NjA2NGUwZjItMWJmNy00M2Y4LWEwYjQtYjMyZWU0ZDIwMjliLTExMDE5Njk=\/tiny\/Secoo-Holding-Limited.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Aug. 04, 2023 (GLOBE NEWSWIRE) &#8212; Secoo Holding Limited (\u201cSecoo\u201d or the \u201cCompany\u201d) (NASDAQ: SECO), Asia\u2019s leading online integrated upscale products and services platform, today announced that it has received a written notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC (\u201cNasdaq\u201d) dated August 1, 2023, indicating that because the closing bid price of the Company\u2019s American Depositary Shares (\u201cADSs\u201d) for the last 30 consecutive business days was below US$1.00 per share, the Company no longer meets the Nasdaq minimum bid price requirement, set forth in Nasdaq Listing Rule 5550(a)(2). Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until January 29, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Secoo Announces Receipt of Minimum Bid Price Notice from Nasdaq&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-775577","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Secoo Announces Receipt of Minimum Bid Price Notice from Nasdaq - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Secoo Announces Receipt of Minimum Bid Price Notice from Nasdaq - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BEIJING, Aug. 04, 2023 (GLOBE NEWSWIRE) &#8212; Secoo Holding Limited (\u201cSecoo\u201d or the \u201cCompany\u201d) (NASDAQ: SECO), Asia\u2019s leading online integrated upscale products and services platform, today announced that it has received a written notification from the staff of the Listing Qualifications Department of the Nasdaq Stock Market LLC (\u201cNasdaq\u201d) dated August 1, 2023, indicating that because the closing bid price of the Company\u2019s American Depositary Shares (\u201cADSs\u201d) for the last 30 consecutive business days was below US$1.00 per share, the Company no longer meets the Nasdaq minimum bid price requirement, set forth in Nasdaq Listing Rule 5550(a)(2). Pursuant to the Nasdaq Listing Rule 5810(c)(3)(A), the Company is provided with a compliance period of 180 calendar days, or until January 29, &hellip; Continue reading &quot;Secoo Announces Receipt of Minimum Bid Price Notice from Nasdaq&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-04T15:37:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg4NzY1MiM1NzM3ODc4IzIwOTAzOTg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Secoo Announces Receipt of Minimum Bid Price Notice from Nasdaq\",\"datePublished\":\"2023-08-04T15:37:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\\\/\"},\"wordCount\":873,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODg4NzY1MiM1NzM3ODc4IzIwOTAzOTg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/secoo-announces-receipt-of-minimum-bid-price-notice-from-nasdaq\\\/\",\"name\":\"Secoo Announces Receipt of Minimum Bid Price Notice from Nasdaq - 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