Secoo Announces Receipt of Withdrawal of Mr. Richard Rixue Li’s Going Private Pr… – Press Release

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BEIJING, May 23, 2022 (GLOBE NEWSWIRE) — Secoo Holding Limited (“Secoo” or the “Company”) SECO, Asia’s leading online integrated upscale products and services platform, today announced that the special committee of the Company’s board of directors (the “Board”) received a letter dated May 20, 2022 from Mr. Richard Rixue Li, Chairman of the Board and Chief Executive Officer of Secoo, stating that Mr. Richard Rixue Li would withdraw its prior non-binding going private proposal (the “Proposal”) dated January 10, 2021, with immediate effect. The letter stated that, having given due consideration to recent market conditions, Mr. Richard Rixue Li had determined not to proceed with the Proposal. The Board has approved to dissolve the special committee of the Board.

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…

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