HANGZHOU, China, Nov. 17, 2020 /PRNewswire/ -- Ruhnn Holding
Limited ("ruhnn" or the "Company") (NASDAQ: RUHN), a leading
internet key opinion leader ("KOL") facilitator in China, today announced the appointment of KPMG
Huazhen LLP ("KPMG") as the Company's independent registered public
accounting firm.
The appointment of KPMG was made after a careful and thorough
evaluation process and has been approved by the audit committee of
the Company.
The reports of Deloitte Touche Tohmatsu Certified Public
Accountants LLP ("DTT") on the combined and consolidated
financial statements of the Company as of March 31, 2020 and 2019 and for the three years
in the period ended March 31, 2020
did not contain any adverse opinion or disclaimer of opinion, nor
were they qualified or modified as to uncertainty, audit scope or
accounting principles. The decision to change auditors was not the
result of any disagreement between the Company and DTT on any
matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure.
During the Company's fiscal years ended March 31, 2019 and 2020 and until the engagement
of KPMG, neither the Company nor anyone on its behalf has consulted
with KPMG on either (i) the application of accounting principles to
a specified transaction, either completed or proposed, or the type
of audit opinion that might be rendered on the Company's financial
statements, and neither a written report nor oral advice was
provided to the Company by KPMG which KPMG concluded as an
important factor considered by the Company in reaching a decision
as to any accounting, auditing or financial reporting issue, or
(ii) any matter that was the subject of a disagreement, as that
term is defined in Item 16F(a)(1)(iv) of Form 20-F (and the related
instructions thereto) or a reportable event as set forth in Item
16F(a)(1)(v) of Form 20-F.
The Company is working closely with DTT and KPMG to ensure a
seamless transition.
The audit committee would like to express its sincere gratitude
to DTT for its professionalism and quality of services rendered to
the Company over the past years.
About Ruhnn Holding Limited
Ruhnn Holding Limited is a leading internet KOL facilitator and
platform in China. The Company
connects influential KOLs who engage and impact their fans on the
internet to its vast commercial network to build the brands of
fashion products. Ruhnn pioneered the commercialization of the KOL
ecosystem in China, and operates
under both platform and full-service models. The Company's platform
model promotes products sold in third-party online stores and
provides advertising services on KOL's social media spaces to
third-party merchants. The full-service model integrates key steps
of the e-commerce value chain from product design and sourcing and
online store operations to logistics and after-sale services. As of
June 30, 2020, the Company had 174
signed KOLs with an aggregate of 263.1 million fans across major
social media platforms in China.
For more information, please visit http://ir.ruhnn.com.
For investor and media inquiries, please contact:
In China:
Ruhnn Holding Limited
Sterling Song
Senior Director of Investor Relations
Tel: +86-571-2825-6700
E-mail: ir@ruhnn.com
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: ruhnn@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ruhnn@thepiacentegroup.com
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SOURCE Ruhnn Holding Limited