SHANGHAI, Aug. 1, 2022
/PRNewswire/ -- Boqii Holding Limited ("Boqii" or the "Company")
(NYSE: BQ), a leading pet-focused platform in China, today provides an update on its status
under the Holding Foreign Companies Accountable Act (the
"HFCAA").
The Company is aware that it has been identified by the United
States Securities and Exchange Commission (the "SEC") under the
Holding Foreign Companies Accountable Act of the United States (the "HFCAA") on
July 29, 2022. Such identification
may have resulted from the Company's filing of the annual report on
Form 20-F for the fiscal year ended March
31, 2022.
The Company understands that the SEC made such
identification pursuant to the HFCAA and its implementation rules
issued thereunder. This indicates that the SEC has determined that
the Company used an auditor, whose working paper cannot be
inspected or investigated completely by the Public Company
Accounting Oversight Board of the United States (the
"PCAOB"), to issue the audit opinion for the Company's financial
statements for the fiscal year ended March
31,2022.
In accordance with the HFCAA, a company will be delisted from
a U.S. stock exchange if such company has been identified by
the SEC for three consecutive years due to PCAOB's
inability to inspect the auditor's working paper.
Boqii will continue to monitor developments and has been
actively exploring possible solutions to best protect the interest
of its stakeholders. The Company also notes that this update has no
impact on its business operations. Boqii will continue to comply
with applicable laws and regulations in both China and
the United States, and strive to maintain its listing status
on the New York Stock Exchange.
About Boqii Holding Limited
Boqii Holding Limited (NYSE: BQ) is a leading pet-focused
platform in China. We are the
leading online destination for pet products and supplies in
China with our broad selection of
high-quality products including global leading brands, local
emerging brands, and our own private label, Yoken and Mocare,
offered at competitive prices. Our online sales platforms,
including Boqii Mall and our flagship stores on third-party
e-commerce platforms, provide customers with convenient access to a
wide selection of high-quality pet products and an engaging and
personalized shopping experience. Our Boqii Community provides an
informative and interactive content platform for users to share
their knowledge and love for pets.
Safe Harbor Statement
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. Statements that
are not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and a number of factors could cause actual results
to differ materially from those contained in any forward-looking
statement. In some cases, forward-looking statements can be
identified by words or phrases such as "may," "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. The Company may also make written or oral
forward-looking statements in its reports filed with, or furnished
to, the SEC, in its annual reports to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements about the
Company's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties.
Further information regarding such risks, uncertainties or
factors is included in the Company's filings with the SEC. All
information provided in this press release is as of the date of
this press release, and the Company does not undertake any duty to
update such information, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com
DLK Advisory Limited
Tel: +852-2857-7101
Email: ir@dlkadvisory.com
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SOURCE Boqii Holding Limited