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Boqii (NYSE: BQ) approves major share capital changes and new articles

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6-K

Rhea-AI Filing Summary

Boqii Holding Limited held its annual general meeting on May 6, 2026, where shareholders approved a series of major share capital changes. A quorum was present, with holders entitled to cast 51,675,666 votes represented in person or by proxy.

Shareholders passed a Capital Reduction that cuts the par value of each share from US$0.16 to US$0.0000001, with the credit moved to a distributable reserve that the board may use, including to offset accumulated losses. The meeting also approved a Recapitalization, increasing authorized share capital to US$2,000 divided into 20,000,000,000 shares across Class A, B and C, and a new set of Fifteenth Amended and Restated Memorandum and Articles of Association. In addition, shareholders authorized a future share consolidation, allowing the board, within two years, to consolidate each 200 (or another approved number of at least two) ordinary shares into one share. On May 7, 2026, the company filed the new memorandum and articles with the Cayman Islands registrar.

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Insights

Boqii's shareholders approved a deep par value cut, huge authorized share increase, and flexible future reverse split.

The meeting approves a Capital Reduction that lowers par value per share from US$0.16 to US$0.0000001, transferring the difference into a distributable reserve. That reserve can be used as the board permits under Cayman law and the articles, including offsetting accumulated losses.

Immediately after, the Recapitalization boosts authorized capital to US$2,000 split into 20,000,000,000 shares across the three ordinary share classes and additional undesignated shares. This does not itself issue new shares but greatly expands capacity for future equity actions.

The approval of a potential share consolidation, allowing the board within two years to consolidate each 200 or a lesser whole number (not below two) of existing shares into one, gives flexibility to adjust the trading share count and price structure later. Actual impact on investors will depend on if and how the board uses the enlarged authorization, reserve, and consolidation authority.

Shares outstanding at record date 4,879,614 ordinary shares Outstanding and entitled to vote as of April 20, 2026
Votes represented at AGM 51,675,666 votes Voting power present in person or by proxy at AGM
Old par value per share US$0.16 per share Par value before Capital Reduction
New par value per share US$0.0000001 per share Par value after Capital Reduction
Authorized capital before recapitalization US$12.5 / 125,000,000 shares Immediately after Capital Reduction and Share Sub-Division
Authorized capital after recapitalization US$2,000 / 20,000,000,000 shares Following Recapitalization Proposal approval
Class A authorized after recapitalization 15,000,000,000 Class A shares Par value US$0.0000001 each
Potential consolidation ratio 200:1 (or lesser whole number ≥2) Share consolidation authority within two years of AGM
Capital Reduction financial
"the par value of each authorized and issued share ... (the “Capital Reduction”)"
A capital reduction is a legal move where a company shrinks the amount of money recorded as its official share capital, either by cancelling shares, lowering the value of each share, or returning cash to shareholders. Investors care because it changes the company’s balance sheet and can alter how much each remaining share represents—like pruning a tree to concentrate fruit or giving back some of the harvest—potentially affecting ownership percentages, per‑share metrics and the stock’s market value.
Share Sub-Division financial
"each of the authorized but unissued shares ... be sub-divided into 1,600,000 shares ... (the “Share Sub-Division”)"
A share sub-division (often called a stock split) is when a company increases the number of its outstanding shares by dividing each existing share into multiple smaller ones, lowering the price per share while keeping the total value of an investor’s holdings the same. Think of cutting a pizza into more slices: you have more pieces but the pizza is unchanged. It matters because lower per-share prices can make trading easier, boost liquidity and investor demand, and change metrics like shares outstanding used in valuations.
Recapitalization Proposal financial
"Proposal 2 — Recapitalization Proposal: By ordinary resolution, that immediately upon the approval and effectiveness of Capital Reduction Proposal"
Share Consolidation Proposal financial
"Proposal 4 — Share Consolidation Proposal: By ordinary resolution, that conditional upon the subsequent approval of the Board"
solvency statement regulatory
"conditional upon the registration by the Registrar ... of the solvency statement and minute containing the particulars required"
A solvency statement is a formal declaration, usually by a company’s directors, that the business can pay its bills as they come due and that its assets cover its liabilities. Investors care because this assurance signals whether the company is financially stable enough to keep operating, pay dividends, or undertake transactions; think of it as a household saying it has enough cash and assets before promising to spend or borrow more.
Fifteenth Amended and Restated Memorandum and Articles of Association regulatory
"the substitution in their place of the Fifteenth Amended and Restated Memorandum and Articles of Association"

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May 2026

 

Commission File Number: 001-39547

 

 

 

Boqii Holding Limited

 

 

 

Room 1203, 12th Floor, Building T1, Smart Cloud, No. 1, Lane 235, Yubei Road
Pudong New District, Shanghai 201204
The People’s Republic of China
(Address of principal executive offices)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F        Form 40-F

 

 

 

 

 

INFORMATION CONTAINED IN THIS REPORT ON FORM 6-K

 

The annual general meeting of shareholders of Boqii Holding Limited, an exempted company incorporated in the Cayman Islands (the “Company”), was held on May 6, 2026 at 8:00 p.m., Beijing Time (May 6, 2026 at 8:00 a.m., Eastern Time), at Room 1203, 12th Floor, Building T1, Smart Cloud, No. 1, Lane 235, Yubei Road, Pudong New District, Shanghai, China, 201204 (the “AGM”).

 

At the close of business on April 20, 2026, the record date for the determination of holders of the Class A ordinary shares, each of which is entitled to one (1) vote, Class B ordinary shares, each of which is entitled to twenty (20) votes, and Class C ordinary shares, each of which is entitled to one hundred (100) votes, of the Company entitled to vote at the AGM, there were outstanding and entitled to vote a total of 4,879,614 ordinary shares of par value of US$0.16 each that are issued and outstanding, comprising 4,298,128 Class A ordinary shares of par value of US$0.16 each, 81,486 Class B ordinary shares of par value of US$0.16 each, and 500,000 Class C ordinary shares of par value of US$0.16 each. At the AGM, shareholders entitled to cast an aggregate of 51,675,666 votes were represented in person or by proxy, exceeding a majority of the total voting power of the ordinary shares entitled to vote at the AGM and constituting a quorum.

 

At the AGM, the Company’s shareholders approved the following proposals:

 

1. Proposal 1 — Capital Reduction Proposal:  By special resolution, that conditional upon the registration by the Registrar of Companies of the Cayman Islands (the “Cayman Registrar”) of the solvency statement and minute containing the particulars required under the Companies Act (As Revised) of the Cayman Islands (the “Companies Act”) with respect to the Capital Reduction (as defined below);

 

(i) the par value of each authorized and issued share in the capital of the Company be reduced from US$0.16 per share to US$0.0000001 per share such that the issued share capital be reduced by cancelling the paid-up capital of the Company to the extent of US$0.1599999 on each of the then issued shares of the Company (the “Capital Reduction”);

 

(ii) the credit arising from the Capital Reduction be transferred to a distributable reserve account of the Company which may be utilized by Company as the board of directors (the “Board”) may deem fit and permitted under the Companies Act, the Fourteenth Amended and Restated Articles and Memorandum of Association (the “Existing Articles”) and all relevant applicable laws, including, without limitation, eliminating or setting off any accumulated losses of the Company (if any) from time to time;

 

(iii) immediately following the Capital Reduction, each of the authorized but unissued shares in the capital of the Company be sub-divided into 1,600,000 shares of a par value of US$0.0000001 each (the “Share Sub-Division”);

 

(iv) immediately following the Capital Reduction and the Share Sub-Division, the authorized share capital of the Company shall be changed,

 

FROM: US$20,000,000 divided into 125,000,000 shares comprising (a) 93,750,000 Class A ordinary shares of par value of US$0.16 each; (b) 12,500,000 Class B ordinary shares of par value of US$0.16 each; (c) 1,000,000 Class C ordinary shares of par value of US$0.16 each; and (d) 17,750,000 shares of US$0.16 each of such Class or Classes (however designated) as the Board may determine in accordance with the Existing Articles.

 

TO: US$12.5 divided into 125,000,000 shares comprising (a) 93,750,000 Class A ordinary shares of par value of US$0.0000001 each; (b) 12,500,000 Class B ordinary shares of par value of US$0.0000001 each; (c) 1,000,000 Class C ordinary shares of par value of US$0.0000001 each; and (d) 17,750,000 shares of US$0.0000001 each of such class or classes as the Board may determine in accordance with the Existing Articles by cancelling the excess authorized but unissued shares in the authorized share capital of the Company, and of which 4,879,614 ordinary shares of par value of US$0.0000001 each that are issued and outstanding, comprising 4,298,128 Class A ordinary shares of par value of US$0.0000001 each, 81,486 Class B ordinary shares of par value of US$0.0000001 each, and 500,000 Class C ordinary shares of par value of US$0.0000001 each, be approved.

 

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2. Proposal 2 — Recapitalization Proposal:  By ordinary resolution, that immediately upon the approval and effectiveness of Capital Reduction Proposal above, the authorized share capital of the Company be increased from US$12.5 divided into 125,000,000 shares comprising (a) 93,750,000 Class A ordinary shares of par value of US$0.0000001 each; (b) 12,500,000 Class B ordinary shares of par value of US$0.0000001 each; (c) 1,000,000 Class C ordinary shares of par value of US$0.0000001 each; and (d) 17,750,000 shares of US$0.0000001 each of such Class or Classes (however designated) as the Board may determine in accordance with the Existing Articles to US$2,000 divided into 20,000,000,000 shares comprising (a) 15,000,000,000 Class A ordinary shares of par value of US$0.0000001 each; (b) 1,000,000,000 Class B ordinary shares of par value of US$0.0000001 each; (c) 1,000,000,000 Class C ordinary shares of par value of US$0.0000001 each; and (d) 3,000,000,000 shares of US$0.0000001 each of such Class or Classes (however designated) as the Board may determine in accordance with the Existing Articles by way of creation of authorized but unissued (a) 14,906,250,000 Class A ordinary shares of par value of US$0.0000001 each; (b) 987,500,000 Class B ordinary shares of par value of US$0.0000001 each; (c) 999,000,000 Class C ordinary shares of par value of US$0.0000001 each; and (d) 2,982,250,000 shares of US$0.0000001 each of such Class or Classes (however designated) as the Board may determine in accordance with the Existing Articles, be approved.

 

(iii) Proposal 3 Articles Amendment Proposal: By special resolution, that immediately upon the approval and effectiveness of Capital Reduction Proposal and Recapitalization Proposal above, the Existing Articles be amended and restated by the deletion in their entirety and the substitution in their place of the Fifteenth Amended and Restated Memorandum and Articles of Association in the form as attached thereto as Annex A  to the proxy statement (the “New Articles”), be approved.

 

(iv) Proposal 4 — Share Consolidation Proposal: By ordinary resolution, that conditional upon the subsequent approval of the Board in its sole discretion within two (2) years after the date of this AGM, on such date as any director or chief executive officer of the Company deems advisable and may determine in his or her absolute discretion, each 200, or such lesser whole share amount as the Board may determine in its sole discretion, such amount not to be less than two (2) ordinary shares of a par value of US$0.0000001 each (whether issued or unissued) be consolidated into one ordinary share of the Company, with such consolidated shares having the same rights, privileges and restrictions (save as to par value) as the existing shares of such class as set out in the memorandum and articles of association of the Company in effect at the relevant time, be approved.

 

Set forth below are the voting results for each of the proposals:

 

1. Proposal 1: Capital Reduction

 

For   Against   Abstain 
 51,659,011    16,372    283 

 

2. Proposal 2: Recapitalization

 

For   Against   Abstain 
 51,633,582    40,831    1,253 

 

3. Proposal 3: Articles Amendment

 

For   Against   Abstain 
 51,636,553    36,830    2,283 

 

4. Proposal 4: Share Consolidation

 

For   Against   Abstain 
 51,656,003    17,307    2,356 

 

On May 7, 2026, in connection with the Capital Reduction and Recapitalization, the Company filed its Fifteenth Amended and Restated Memorandum and Articles of Association with the Assistant Registrar of Companies of the Cayman Islands. A copy of the Fifteenth Amended and Restated Memorandum and Articles of Association is attached as Exhibit 3.1 hereto and incorporated herein by reference.

 

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EXHIBIT INDEX

 

Exhibit No.   Description
3.1*   Fifteenth Amended and Restated Memorandum and Articles of Association.

 

*Filed herewith.

 

3

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Boqii Holding Limited
   
  By: /s/ Yingzhi (Lisa) Tang
  Name:  Yingzhi (Lisa) Tang
  Title: Co-Chief Executive Officer and
Chief Financial Officer
Date: May 12, 2026    

 

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FAQ

What did Boqii (BQ) shareholders approve at the May 2026 annual meeting?

Shareholders approved a capital reduction, a major recapitalization of authorized share capital, adoption of Fifteenth Amended and Restated Memorandum and Articles of Association, and a flexible future share consolidation authority for the board within two years, with a quorum present representing 51,675,666 votes.

How does Boqii's capital reduction change the par value of its shares?

The capital reduction lowers the par value of each authorized and issued share from US$0.16 to US$0.0000001. The cancelled paid-up capital of US$0.1599999 per share is credited to a distributable reserve that the board may use as permitted, including to eliminate accumulated losses.

How many Boqii ordinary shares were outstanding and entitled to vote at the AGM record date?

At the April 20, 2026 record date, 4,879,614 ordinary shares were outstanding and entitled to vote. This included 4,298,128 Class A shares, 81,486 Class B shares, and 500,000 Class C shares, each with different voting rights per share under Boqii’s capital structure.

What recapitalization of authorized shares did Boqii (BQ) shareholders approve?

After the capital reduction, shareholders approved increasing authorized share capital from US$12.5 to US$2,000, divided into 20,000,000,000 shares. This includes 15,000,000,000 Class A, 1,000,000,000 Class B, 1,000,000,000 Class C, and 3,000,000,000 undesignated shares, all at US$0.0000001 par value.

What share consolidation authority did Boqii's board receive from shareholders?

Shareholders authorized the board, within two years of the AGM, to consolidate each 200 ordinary shares, or another whole number not below two, into one share. The consolidated shares must retain the same rights and restrictions, except for the changed par value, under Boqii’s governing documents.

Did Boqii adopt new memorandum and articles of association after the AGM?

Yes, shareholders approved replacing the Existing Articles with the Fifteenth Amended and Restated Memorandum and Articles of Association. On May 7, 2026, Boqii filed this new constitutional document with the Assistant Registrar of Companies of the Cayman Islands as part of its capital restructuring.

Filing Exhibits & Attachments

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