{"id":2981,"date":"2017-09-15T10:10:34","date_gmt":"2017-09-15T14:10:34","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=2981"},"modified":"2017-09-15T10:10:34","modified_gmt":"2017-09-15T14:10:34","slug":"secoo-holding-limited-ipo-preview","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/secoo-holding-limited-ipo-preview\/","title":{"rendered":"Secoo Holding Limited IPO Preview"},"content":{"rendered":"<p><a href=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/g266621.jpg\"><img decoding=\"async\" class=\"aligncenter size-full wp-image-2982\" src=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/g266621.jpg\" alt=\"SecooHoldingLogo\" width=\"61\" height=\"154\" \/><\/a><\/p>\n<p>Company: <strong>Secoo Holding Limited<\/strong><br \/>\nSymbol: SECO<br \/>\nDescription: They are Asia&#8217;s largest online integrated upscale products and services platform as measured by GMV in 2016, according to the Frost &amp; Sullivan report.<br \/>\nShares: 8.5 million ADS<br \/>\nRange: $11.50-$13.50<br \/>\nTrade Date: 9\/22<br \/>\nUnderwriter(s): Jefferies<br \/>\nCo-Manager: BNP PARIBAS<\/p>\n<p><strong><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1633441\/000104746917005732\/a2233106zf-1a.htm\" target=\"_blank\">Link to S-1\/A Prospectus<\/a><\/strong><\/p>\n<p><strong><a href=\"http:\/\/www.retailroadshow.com\/wp\/roadshows.asp\" target=\"_blank\">Link to Retail Roadshow<\/a><\/strong><\/p>\n<p><strong>Business<\/strong>: The middle and high income population in China have shown a high increasing propensity to purchase luxury products and services on online platforms with diversified and personalized demand, according to the Frost\u00a0&amp; Sullivan report. They\u00a0offer them a wide selection of authentic upscale products and lifestyle services to satisfy different needs of the modern lifestyle. They\u00a0currently offer over 300,000 SKUs, covering over 3,000 global and domestic brands on our platform. Supported by their\u00a0proprietary database of upscale products, their\u00a0authentication procedures and brand cooperation, they are able to ensure the authenticity and quality of every product offered on their\u00a0platform. With the goal of providing one-stop shopping experience, they have expanded into providing high-end lifestyle services since 2014.<\/p>\n<p><strong>Financials: \u00a0<\/strong>Their net revenues increased by 48.8% from RMB1,743.1\u00a0million in 2015 to RMB2,593.8\u00a0million (US$382.6\u00a0million) in 2016, and increased from RMB1,033.1\u00a0million for the six months ended June\u00a030, 2016 to RMB1,346.7\u00a0million (US$198.6\u00a0million) for the six months ended June\u00a030, 2017. Their GMV grew by 34.9% from RMB2,572.6\u00a0million in 2015 to RMB3,470.2\u00a0million (US$511.9\u00a0million) in 2016. In the six months ended June\u00a030, 2017, their GMV was RMB1,924.6\u00a0million (US$283.9\u00a0million), compared to the GMV of RMB1,276.5\u00a0million for the six months ended June\u00a030, 2016.<\/p>\n<p><strong><a href=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-15-at-10.07.32-AM.png\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-2983\" src=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-15-at-10.07.32-AM.png\" alt=\"SecooFinancials\" width=\"1532\" height=\"304\" srcset=\"https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-15-at-10.07.32-AM.png 1532w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-15-at-10.07.32-AM-600x119.png 600w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-15-at-10.07.32-AM-300x60.png 300w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2017\/09\/Screen-Shot-2017-09-15-at-10.07.32-AM-1024x203.png 1024w\" sizes=\"(max-width: 1532px) 100vw, 1532px\" \/><\/a><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Competition and Sector Performance: \u00a0&#8211;\u00a0<\/strong>Well established China companies are Secoo Holding&#8217;s competition.<\/p>\n<ul>\n<li>Alibaba<\/li>\n<li>JD.Com<\/li>\n<li>Tencent Holding<\/li>\n<\/ul>\n<p><strong>Book-Building Status<\/strong>: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.<\/p>\n<p><a href=\"https:\/\/www.ipoboutique.com\/Subscribe.html\">IPO Boutique subscription clients receive daily updates on this critical information.<\/a><\/p>\n<p><strong>Conclusion<\/strong>: IPO Boutique provides ratings, daily commentary and a forecast for how this IPO will open vs. its offering price. We have kept a\u00a0<a href=\"https:\/\/www.ipoboutique.com\/cgi\/ipo-track-record-summary-report.php\">track record<\/a>\u00a0with our performance for last 12 years at our website.<\/p>\n<p>Indicate with confidence,\u00a0<a href=\"https:\/\/www.ipoboutique.com\/Subscribe.html\">SUBSCRIBE<\/a>\u00a0today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company: Secoo Holding Limited Symbol: SECO Description: They are Asia&#8217;s largest online integrated upscale products and services platform as measured by GMV in 2016, according to the Frost &amp; Sullivan report. Shares: 8.5 million ADS Range: $11.50-$13.50 Trade Date: 9\/22 Underwriter(s): Jefferies Co-Manager: BNP PARIBAS Link to S-1\/A Prospectus Link to Retail Roadshow Business: The[&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24],"tags":[1342],"class_list":["post-2981","post","type-post","status-publish","format-standard","hentry","category-ipo","tag-seco"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=2981"}],"version-history":[{"count":1,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2981\/revisions"}],"predecessor-version":[{"id":2984,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2981\/revisions\/2984"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=2981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=2981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=2981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}