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Secoo, represented by founder and CEO Rixue Li, participated in the China International Fair for Trade in Services on September 5, 2020, emphasizing the potential of e-commerce Livestream to boost sales of personalized products. Li highlighted the importance of immediate visual communication in establishing brands and shared insights on the rapid growth of Livestream services, which Secoo began at the end of 2019. The company aims to lead in high-end e-commerce by offering Livestream services for luxury brands globally, including during major fashion weeks.
Secoo Holding Limited (NASDAQ: SECO) reported its Q2 2020 unaudited financial results, revealing a 12.1% increase in Gross Market Value (GMV) to RMB3,632.0 million (US$514.1 million) year-over-year. However, total revenues decreased to RMB1,306.3 million (US$184.9 million) from RMB1,712.1 million in Q2 2019 due to COVID-19's impact on high-end discretionary spending. Active customers grew 9.2% to 467.7 thousand. The company regained positive operating profits driven by effective cost control, supporting confidence in long-term goals, amidst ongoing pandemic challenges.
Secoo Holding Limited (NASDAQ: SECO) will report its second quarter 2020 unaudited financial results on September 3, 2020, prior to U.S. market opening. An earnings conference call is scheduled for 8:00 AM ET on the same day. Secoo is recognized as Asia's largest online upscale products and services platform, offering over 400,000 SKUs across more than 3,800 brands. The call will be accessible via a registration link provided, with a replay available after the live event.
Secoo Holding Limited (NASDAQ: SECO) announced Q1 2020 unaudited financial results, revealing a GMV of RMB2,476.0 million (US$349.7 million), up 12.2% year-over-year. Total orders rose 11.6% to 723.0 thousand, and active customers increased by 11.5% to 340.0 thousand. However, total revenues fell to RMB1,005.2 million (US$142.0 million) from RMB1,175.4 million due to COVID-19 impacts. Notably, the net loss was RMB42.5 million (US$6.0 million), contrasting with a net income of RMB15.8 million in Q1 2019. Cash and cash equivalents stood at RMB733.4 million (US$103.6 million) as of March 31, 2020.
Secoo Holding Limited (NASDAQ: SECO), Asia's largest online upscale product platform, will release its first quarter 2020 unaudited financial results on July 16, 2020, before U.S. market opening. An earnings conference call is scheduled for the same day at 8:00 AM ET. Participants must complete an online registration prior to the call. The conference call will also be available as a live and archived webcast on the Company’s investor relations website.
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.
Secoo Holding Limited (NASDAQ: SECO) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2019, with the SEC on June 11, 2020. This report includes the Company's audited consolidated financial statements, accessible via the SEC's website and Secoo's investor relations platform. Shareholders can request a hard copy of the report at no charge. As Asia's largest online integrated upscale products and services platform, Secoo offers over 400,000 SKUs from more than 3,800 brands, ensuring product authenticity through its proprietary database and authentication processes.
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