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Boqii Holding Limited - BQ STOCK NEWS

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Boqii Holding Limited (NYSE: BQ) is a premier pet-focused platform in China, offering a comprehensive range of high-quality pet products and services. Established in 2008, Boqii's mission is to connect people and pets by providing a one-stop destination for all pet-related needs.

Boqii operates both online and offline channels. Through its online stores like Boqii Mall and flagship stores on third-party e-commerce platforms, the company offers a vast selection of pet foods, health products, grooming essentials, toys, fish tanks, and specialized equipment such as aquatic fertilizers and oxygen pumps. Boqii also distributes its products to physical pet stores and hospitals across China.

In recent developments, Boqii announced its unaudited financial results for the second half of fiscal year 2023, ending March 31, 2023. The company reported a 16.2% annual growth in the number of active buyers, reaching 5.8 million users. Despite the challenges of the fiscal year, the company managed to reduce its operating loss by 24.9% year-on-year and successfully maintained a low customer acquisition cost of RMB 3.8 per user.

Boqii has also seen significant growth in its private label products, including Yoken and Mocare. Sales from these lines increased by 19.2% year-on-year, contributing to an improved gross margin of 32.8%. The company has made strides in optimizing its operations and reducing overheads, leading to a significant decrease in sales and marketing expenses and general administrative costs.

On the financial front, Boqii's total revenues for the second half of fiscal year 2023 were RMB 502.5 million (US$ 73.2 million), compared to RMB 582.5 million in the same period of fiscal year 2022. The company attributes the revenue decrease to the resurgence of COVID-19 in certain regions of China. However, the company remains optimistic about its future, given the improvements in gross margin and operational efficiencies.

In August 2023, Boqii announced a change in the ratio of its American Depositary Shares (ADS) from one ADS representing 4.5 Class A ordinary shares to one ADS representing 15 Class A ordinary shares. This change is expected to enhance shareholder value and improve the stock's market performance.

Boqii continues to be a leader in the Chinese pet market, distinguished by its broad selection of global and local brands and a robust private label portfolio. The company fosters a vibrant community through its Boqii Community platform, where pet owners can share their knowledge and passion for pets.

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Boqii Holding Limited will transfer the listing of its American Depositary Shares from the NYSE to NYSE American, with trading expected to begin on October 5, 2023.
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Boqii Holding Limited announces approval of resolutions at extraordinary general meeting
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Boqii Holding Limited (NYSE: BQ) announced a change in the ratio of its American Depositary Shares (ADSs) to Class A ordinary shares. The new ratio will be one ADS representing fifteen (15) Class A ordinary shares, compared to the previous ratio of one ADS representing four and one-half (4.5) Class A ordinary shares. The change is expected to be effective on or about August 21, 2023. The ADS Ratio Change will have the same effect as a 3-for-10 reverse split on the existing ADSs. No action is required by holders of uncertificated ADSs. Fractional new ADSs will not be issued, but the Depositary will attempt to sell any fractional entitlements and distribute the net cash proceeds to applicable ADS holders. Boqii's ADSs will continue to be traded on the NYSE under the ticker symbol 'BQ'. The ADS price is expected to increase proportionally, but there is no assurance that it will be equal to or greater than ten-thirds (10/3) times the ADS price before the change.
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FAQ

What does Boqii Holding Limited specialize in?

Boqii Holding Limited is a leading pet-focused platform in China, offering a wide range of pet products and services through both online and offline channels.

When was Boqii Holding Limited founded?

Boqii Holding Limited was founded in 2008.

What are some of Boqii's product offerings?

Boqii offers pet foods, health products, grooming essentials, toys, fish tanks, aquatic fertilizers, temperature control equipment, oxygen pumps, and more.

How did Boqii perform in the second half of fiscal year 2023?

Boqii reported total revenues of RMB 502.5 million (US$ 73.2 million) and saw a 16.2% growth in active buyers despite the impact of COVID-19.

What recent change was made to Boqii's American Depositary Shares (ADS)?

In August 2023, Boqii changed the ratio of its ADS from representing 4.5 Class A ordinary shares to 15 Class A ordinary shares.

What growth has Boqii seen in its private label products?

Sales from Boqii's private label products increased by 19.2% year-on-year, with a gross margin improvement to 32.8%.

What are Boqii's key financial highlights for fiscal year 2023?

Boqii's total revenues were RMB 1,092.1 million (US$ 158.4 million), with a gross profit of RMB 233.5 million (US$ 34.0 million) and a reduced operating loss of RMB 103.8 million (US$ 15.1 million).

How does Boqii distribute its products?

Boqii distributes its products both online through platforms like Boqii Mall and offline to pet stores and hospitals.

What is the Boqii Community?

The Boqii Community is an interactive content platform where users can share their knowledge and passion for pets.

Where can I find Boqii's financial reports?

Boqii's financial reports can be accessed on its investor relations website at http://ir.boqii.com and on the SEC's website.

Boqii Holding Limited

NYSE:BQ

BQ Rankings

BQ Stock Data

1.15M
57.69M
1.34%
0.11%
Electronic Shopping
Retail Trade
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United States of America
Shanghai