Homenews
26-09-2017

Attending SECOO's Nasdaq Listing Ceremony

SECOO is a high-quality portfolio invested by ZHONG Group. It is China's largest luxury e-commerce platform. The company has four core business sections: SECOO Mall, SECOO Smart,SECOO Auction, and SECOO Bank Finance. It is the only one that can provide a global integrated shopping experience for high-end consumers. On August 28, 2017, the luxury e-commerce SECOO submitted IPO documents to the Securities and Exchange Commission (SEC). According to the prospectus, the net revenue of SECOO has increased from 1.743 billion yuan in 2015 to 2.538 trillion yuan (3.826 billion US dollars) in 2016, an increase of 48.8%. Representing that the Chinese luxury e-commerce companies have began their exploration in the U.S. capital market. At 8:30 am local time on September 22, United States. With the breeze in New York. The Chinese luxury goods e-commerce SECOO was officially listed on Nasdaq. It became the first Chinese luxury e-commerce company to land in the U.S. capital market. The transaction code is "SECO". Ms. Guo Jia, the co-founder of ZHONG Holdings, with her 5 people team went to New York to participate in the ceremony of listing on the Nasdaq. SECOO was established in 2008. Its headquarter is located in Beijing and currently has an IPO valuation of 640 million U.S. dollars. Its founder, Mr. Li Rixue, as a young "post-70s" entrepreneur, has been to the business for 16 years since he was 24. Together with Lei Jun, the founder of Xiaomi Technology, and Ji Shisan, the founder of Guoke.com, they were nominated on "Fortune" (Chinese version) 2014 "China's top ten entrepreneurial pioneers." US time at 9:38 on September 22, 2017, all the guests came to the stage ready to ring the bell. The bell on the Nasdaq exchange has already sounded. Everyone applauds and started a 10 seconds countdown. With the arrival of time, the bell was officially sounded. As an early investor in SECOO. The founding partner of ZHONG Holdings Guo Jia has 15 years of investing experience. She is also an early investor in companies such as Jumei.com, Block box, Nash Space, and Yisou etc. The ZHONG Holdings team also participated in the entire development of the SECOO. When investing began in 2012, they witness the SECOO from a second-hand luxury store in Beijing moving to the world, to today’s ceremony of listing on the Nasdaq which the founder of SECOO Li Rixue and I were witnessing. It is a great privilege for ZHONG Capital to have the chance of supporting and accompanying the SECOO to grow together. We will certainly continue to work together with the SECOO to continue our efforts to create a much more successful future. The SECOO prospectus shows that in recent years, compared with the same period, the SECOO GMV (total transaction amount) could be describe as a rapid increase: from 2.576 billion yuan(¥) in 2015 to 34.76 billion yuan in 2016, an increase of 34.9%. As of June 30, 2017, GMV was 1.92 billion yuan. The report of Frost & Sullivan, a market research organization, illustrates the rapid growth of the Chinese luxury goods market. "China's total sales of luxury goods and services in 2016 reached 250.2 million yuan(¥), which corresponds to a CAGR of 23.1% since 2012 and is expected to reach 18.2% from 2016 to 2021." There is no doubt that the potential of China's luxury market is huge. SECOO has the world's leading luxury and luxury designer high-end service platform. It will serve millions of high-end users whether online or not. SECOO is no longer solely positioned as a luxury e-commerce, but will cooperate with offline experience center, which will provide the members with luxury and lifestyle services. Zhong Capital is a leading investment company active in China. It deeply integrates its industrial resources. It owns a number of fund brands and manages domestic and foreign RMB 5 billion and USD funds, focusing on field of high-tech, medical, consumer, cultural media and modern equipment etc. It is Committed to supporting China's fast-growing domestic developing companies. ZHONG Holdings also initiated and supported a number of cultural and medical public welfare projects, awakening the positive energy of the public and be a part of the great rejuvenation of the Chinese nation. It is certain to believe that in the future, ZHONG Capital will continue to work together with the SECOO, integrate high-quality resources, and create the first share of China's luxury e-commerce.

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