Baozun Updates the Status under Holding Foreign Companies Accountable Act
May 05 2022 - 6:30AM
Baozun Inc. (Nasdaq: BZUN; HKEX: 9991) (the “Company” or “Baozun”),
the leading brand e-commerce service partner that helps brands
execute their e-commerce strategies in China, today provides an
update on its status under the Holding Foreign Companies
Accountable Act (the “HFCAA”).
On May 4, 2022 (U.S. Eastern Time), the U.S.
Securities and Exchange Commission (the “SEC”) identified the
Company as a Commission-Identified Issuer, following the Company’s
filing of its annual report on Form 20-F for the fiscal year ended
December 31, 2021 with the SEC on April 29, 2022.
Baozun understands that the SEC made such
identification pursuant to the HFCAA and its implementation rules
issued thereunder, and this indicates that the SEC determines that
the Company used an auditor whose working paper cannot be inspected
or investigated completely by the Public Company Accounting
Oversight Board (the “PCAOB”) to issue the audit opinion for its
financial statements for the fiscal year ended December 31,
2021.
In accordance with the HFCAA, a company will be
delisted from a U.S. stock exchange only if the company has been
identified by the SEC for three consecutive years due to PCAOB's
inability to inspect auditor's working paper.
Baozun has been closely monitoring the
developments, while actively exploring possible solutions. The
Company will continue to comply with applicable laws and
regulations in both China and the United States, and strive to
maintain its listing status on both the Nasdaq Stock Market and The
Stock Exchange of Hong Kong Limited.
Safe Harbor Statements
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates,” “potential,”
“continue,” “ongoing,” “targets,” “guidance,” “going forward,”
“outlook” and similar statements. Statements that are not
historical facts are or contain forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company’s operations and business prospects; the Company’s business
and operating strategies and its ability to implement such
strategies; the Company’s ability to develop and manage its
operations and business; competition for, among other things,
capital, technology and skilled personnel; the Company’s ability to
control costs; the Company’s dividend policy; changes to regulatory
and operating conditions in the industry and geographical markets
in which the Company operates; and other risks and uncertainties.
Further information regarding these and other risks, uncertainties
or factors is included in the Company’s filings with the U.S.
Securities and Exchange Commission and the Company’s announcements,
notice or other documents published on the website of The Stock
Exchange of Hong Kong Limited. All information provided in this
press release is as of the date of this press release and is based
on assumptions that the Company believes to be reasonable as of
this date, and the Company does not undertake any obligation to
update any forward-looking statement, except as required under the
applicable law.
About Baozun Inc.
Baozun Inc. is the leader and a pioneer in the
brand e-commerce service industry in China. Baozun empowers a broad
and diverse range of brands to grow and succeed by leveraging its
end-to-end e-commerce service capabilities, omni-channel coverage
and technology-driven solutions. Its integrated one-stop solutions
address all core aspects of the e-commerce operations covering IT
solutions, online store operations, digital marketing, customer
services, and warehousing and fulfillment.
For more information, please visit
https://ir.baozun.com.
For investor and media inquiries, please
contact:
Baozun Inc.Ms. Wendy SunEmail: ir@baozun.com
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