SECOO

SEC Filings

Form 424B4
SECOO HOLDING LTD filed this Form 424B4 on 09/22/2017
Document Outline
Entire Document (4235.6 KB)
Subdocument 1 - 424B4 - 424B4
Page 1 - Filed Pursuant to Rule 424(b)(4)
Page 2 - N/A
Page 3 - TABLE OF CONTENTS
Page 4 - PROSPECTUS SUMMARY
Page 5 - Our Industry
Page 6 - Our Competitive Strengths
Page 7 - Recent Corporate Developments
Page 8 - N/A
Page 9 - Implications of Being an Emerging Growth Company
Page 10 - Enforceability of Civil Liabilities
Page 11 - N/A
Page 12 - THE OFFERING
Page 13 - N/A
Page 14 - N/A
Page 15 - SUMMARY CONSOLIDATED FINANCIAL DATA AND OPERATING DATA
Page 16 - Summary Operating Data
Page 17 - RISK FACTORS
Page 18 - We have incurred and in the future may continue to incur net losses and negative cash flow from oper
Page 19 - If we are unable to provide good customer experience, our business and reputation may be materially
Page 20 - We have a limited operating history with our current business model and business approach, which mak
Page 21 - We may incur liability or become subject to administrative penalties for counterfeit or unauthorized
Page 22 - Secoo.com
Page 23 - Our expansion into new product categories and new services may expose us to new challenges and more
Page 24 - If we fail to forecast customer demand or manage our inventory effectively, our results of operation
Page 25 - We use third-party delivery companies to deliver our products to customers. If these couriers fail t
Page 26 - Inability to obtain additional financing on commercially reasonable terms in the future may material
Page 27 - If our senior management is unable to work together effectively or efficiently or if we lose their s
Page 28 - We may be the subject of anti-competitive, harassing, or other detrimental conduct by third parties
Page 29 - The proper functioning of our technology platform is essential to our business. Any failure to maint
Page 30 - If we fail to adopt new technologies or adapt our website, mobile applications and systems to changi
Page 31 - The wide variety of payment methods that we accept subjects us to third-party payment processing-rel
Page 32 - Our delivery, return and exchange policies may adversely affect our results of operations.
Page 33 - We have granted options, and may continue to grant options, restricted share units and other types o
Page 34 - We may not be able to prevent others from unauthorized use of our intellectual property, which could
Page 35 - We have limited insurance coverage which could expose us to significant costs and business disruptio
Page 36 - We face risks related to natural disasters, health epidemics and other outbreaks, which could signif
Page 37 - If additional remedial measures are imposed on the Big Four PRC-based accounting firms, including ou
Page 38 - Risks Related to Our Corporate Structure
Page 39 - We rely on contractual arrangements with our variable interest entities and their shareholders for s
Page 40 - Substantial uncertainties exist with respect to the enactment timetable, interpretation and implemen
Page 41 - Any failure by our variable interest entities or their shareholders to perform their obligations und
Page 42 - The shareholders of our variable interest entities may have potential conflicts of interest with us,
Page 43 - We may rely on dividends and other distributions on equity paid by our PRC subsidiaries to fund any
Page 44 - Contractual arrangements in relation to our variable interest entities may be subject to scrutiny by
Page 45 - Risks Related to Doing Business in China
Page 46 - We are subject to consumer protection laws that could require us to modify our current business prac
Page 47 - Secoo.com
Page 48 - We may be required to register our operating offices outside of our registered addresses as branch o
Page 49 - Governmental control of currency conversion may limit our ability to utilize our revenues effectivel
Page 50 - The M A Rules and certain other PRC regulations establish complex procedures for some acquisitions o
Page 51 - N/A
Page 52 - Any failure to comply with PRC regulations regarding the registration requirements for employee stoc
Page 53 - Enhanced scrutiny over acquisitions by the PRC tax authorities may have a negative impact on potenti
Page 54 - The enforcement of the PRC Labor Contract Law and other labor-related regulations in the PRC may adv
Page 55 - The trading price of our ADSs may be volatile.
Page 56 - Because we do not expect to pay dividends in the foreseeable future after this offering, you must re
Page 57 - Except in limited circumstances, the depositary for our ADSs will give us a discretionary proxy to v
Page 58 - Your right to participate in any future rights offerings may be limited, which may cause dilution to
Page 59 - Since we are a Cayman Islands company, the rights of our shareholders may be more limited than those
Page 60 - The post-offering memorandum and articles of association that we expect to adopt and to become effec
Page 61 - We may be classified as a passive foreign investment company for U.S. federal income tax purposes, w
Page 62 - We will incur increased costs as a result of being a public company.
Page 63 - SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Page 64 - USE OF PROCEEDS
Page 65 - DIVIDEND POLICY
Page 66 - CAPITALIZATION
Page 67 - N/A
Page 68 - DILUTION
Page 69 - N/A
Page 70 - EXCHANGE RATE INFORMATION
Page 71 - ENFORCEABILITY OF CIVIL LIABILITIES
Page 72 - N/A
Page 73 - CORPORATE HISTORY AND STRUCTURE
Page 74 - N/A
Page 75 - Agreements that provide us with effective control over Beijing Secoo and Beijing Auction
Page 76 - Powers of Attorney.
Page 77 - Exclusive Option Agreement to Purchase Intellectual Properties.
Page 78 - SELECTED CONSOLIDATED FINANCIAL DATA
Page 79 - N/A
Page 80 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF
Page 81 - Key Factors Affecting Our Results of Operations
Page 82 - Total number of orders.
Page 83 - N/A
Page 84 - Cost of revenues
Page 85 - General and administrative expenses.
Page 86 - N/A
Page 87 - Internal Control Over Financial Reporting
Page 88 - Results of Operations
Page 89 - Gross profit
Page 90 - Other income/(expenses)
Page 91 - Marketing expenses.
Page 92 - Selected Quarterly Results of Operations
Page 93 - Liquidity and Capital Resources
Page 94 - N/A
Page 95 - Operating activities
Page 96 - Contractual Obligations
Page 97 - Off-balance Sheet Commitments and Arrangements
Page 98 - Revenue Recognition
Page 99 - Revenue Recognition Multiple-Element Arrangements
Page 100 - Discount rates
Page 101 - Income taxes
Page 102 - Inventory (Topic 330)
Page 103 - Quantitative and Qualitative Disclosures about Market Risk
Page 104 - N/A
Page 105 - INDUSTRY OVERVIEW
Page 106 - Online Retail Market of Upscale Products and Services in China
Page 107 - Key Growth Drivers
Page 108 - Domestic Players Enjoy Dominant Positions in China
Page 109 - Source: Frost Sullivan Report
Page 110 - BUSINESS
Page 111 - COMPETITIVE STRENGTHS
Page 112 - Large and Loyal Customer Base with High Purchasing Power and Tremendous Cross-Selling Opportunities
Page 113 - Leveraging our Comprehensive Global Supply System to Optimize the Shopping Experience
Page 114 - Proprietary Business Intelligence System and Strong Data Analytics Capabilities
Page 115 - Strengthen Brand Relationships and Expand Products Offerings
Page 116 - OUR BUSINESS MODEL
Page 117 - Online Platform
Page 118 - Offline Experience Centers
Page 119 - CUSTOMER SERVICES AND MEMBERSHIP PROGRAM
Page 120 - PAYMENT
Page 121 - General Pricing Policy
Page 122 - Product sourcing.
Page 123 - Delivery Services
Page 124 - Supplier Selection
Page 125 - TECHNOLOGY
Page 126 - Website and mobile applications.
Page 127 - INTELLECTUAL PROPERTY
Page 128 - FACILITIES
Page 129 - REGULATION
Page 130 - secoo.com, secoo.cn, siku.cn
Page 131 - Auction License.
Page 132 - N/A
Page 133 - Regulations Relating to Product Quality and Consumer Protection
Page 134 - Regulations Relating to Pricing
Page 135 - Regulation on Intellectual Property Rights
Page 136 - Regulation on Employment
Page 137 - Regulations on Tax
Page 138 - Regulations Relating to Foreign Exchange
Page 139 - SAFE Regulations on Offshore Special Purpose Companies Held by PRC Residents
Page 140 - M A Rules and Overseas Listing
Page 141 - N/A
Page 142 - MANAGEMENT
Page 143 - Mr. Xian Chen
Page 144 - Mr. Eric Chan
Page 145 - Nominating and Corporate Governance Committee.
Page 146 - Terms of Directors and Officers
Page 147 - Compensation of Directors and Executive Officers
Page 148 - Termination and amendment.
Page 149 - PRINCIPAL SHAREHOLDERS
Page 150 - N/A
Page 151 - N/A
Page 152 - RELATED PARTY TRANSACTIONS
Page 153 - DESCRIPTION OF SHARE CAPITAL
Page 154 - Voting Rights.
Page 155 - Liquidation.
Page 156 - Inspection of Books and Records.
Page 157 - Differences in Corporate Law
Page 158 - Shareholders' Suits.
Page 159 - Shareholder Action by Written Consent.
Page 160 - Removal of Directors.
Page 161 - Amendment of Governing Documents.
Page 162 - Liquidation preference.
Page 163 - Registration Rights
Page 164 - Termination of Obligations.
Page 165 - DESCRIPTION OF AMERICAN DEPOSITARY SHARES
Page 166 - If the exchange rates fluctuate during a time when the depositary cannot convert the foreign currenc
Page 167 - Other Distributions.
Page 168 - How do ADS holders interchange between Certificated ADSs and Uncertificated ADSs?
Page 169 - This means that you may not be able to exercise your right to vote and you may have no recourse if t
Page 170 - Fees and Expenses
Page 171 - Payment of Taxes
Page 172 - Reclassifications, Recapitalizations and Mergers
Page 173 - Books of Depositary
Page 174 - Requirements for Depositary Actions
Page 175 - Your Right to Receive the Shares Underlying Your ADSs
Page 176 - SHARES ELIGIBLE FOR FUTURE SALES
Page 177 - Rule 701
Page 178 - TAXATION
Page 179 - N/A
Page 180 - United States Federal Income Tax Considerations
Page 181 - Passive Foreign Investment Company Considerations
Page 182 - Sale or Other Taxable Disposition of our ADSs or Ordinary Shares
Page 183 - N/A
Page 184 - THE PRECEDING DISCUSSION OF U.S. FEDERAL INCOME TAX CONSIDERATIONS IS INTENDED FOR GENERAL INFORMATI
Page 185 - UNDERWRITING
Page 186 - Determination of Offering Price
Page 187 - No Sales of Similar Securities
Page 188 - Electronic Distribution
Page 189 - Disclaimers About Non-U.S. Jurisdictions
Page 190 - Australia
Page 191 - European Economic Area
Page 192 - Japan
Page 193 - Singapore
Page 194 - Taiwan
Page 195 - EXPENSES RELATED TO THIS OFFERING
Page 196 - LEGAL MATTERS
Page 197 - EXPERTS
Page 198 - WHERE YOU CAN FIND ADDITIONAL INFORMATION
Page 199 - SECOO HOLDING LIMITED
Page 200 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 201 - N/A
Page 202 - N/A
Page 203 - N/A
Page 204 - N/A
Page 205 - N/A
Page 206 - 1. Organization and principal activities
Page 207 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 208 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 209 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 210 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 211 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 212 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 213 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 214 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 215 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 216 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 217 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 218 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 219 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 220 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 221 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 222 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 223 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 224 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 225 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 226 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 227 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 228 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 229 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 230 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 231 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 232 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 233 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 234 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 235 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 236 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 237 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 238 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 239 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 240 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 241 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 242 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 243 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 244 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 245 - NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 246 - N/A
Page 247 - N/A
Page 248 - N/A
Page 249 - N/A
Page 250 - 1. Summary of Significant Accounting Policies
Page 251 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 252 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 253 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 254 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 255 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 256 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 257 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 258 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 259 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 260 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 261 - NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Page 262 - Until October 16, 2017 (the 25th day after the date of this prospectus), all dealers that buy, sell