Secoo Holding Limited Announces Strategic Partnership with Parkson Retail Group 2018-01-23T11:00:05Z Email
Secoo Holding Limited Announces Strategic Partnership with Parkson Retail Group
BEIJING, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ:SECO), Asia's largest online integrated upscale products and services platform, today announced that it has signed a strategic partnership agreement (the “Agreement”) with Parkson Retail Group (“Parkson”) (HKEx:03368), the retail division of the Malaysian Lion Group to drive omni-channel services that will take both companies' online-to-offline initiatives to the next level.
Pertaining to the Strategic Partnership Agreement, Secoo and Parkson will offer products on each other's websites, and integrate their online-to-offline business resources to enable customers to make orders online and pick up products at either brand’s offline stores. Both companies will also offer their products in Secoo's experience centers and Parkson's stores. In the meantime, the partnership allows both Secoo and Parkson customers to benefit from reciprocal membership privileges, including coupons to spend in stores and online, and access to exclusive offers.
Mr. Sui Hiong Chong, Chief Executive Officer and Executive Director of Parkson, said, “Parkson is a world’s leading operator of department stores. Secoo is Asia’s largest online integrated luxury products and services platform. We are excited to cooperate with Secoo on constructing an integrated ‘New Retail’ model. By integrating our resources, we are committed to providing our customers with intelligent and comprehensive lifestyle services.”
“We are pleased and privileged to be a strategic partner of Parkson,” said Mr. Richard Li, Chairman and Chief Executive Officer of Secoo. “Parkson is a leading nationwide lifestyle retail operator in China and now operates and manages a diversified collection of retail formats in more than 30 major Chinese cities. Secoo and Parkson have the mutual mission of providing upscale products and lifestyle services to the growing middle class and high-income population in China. As omni-channel experiences and services increasingly drive growth in the luxury industry, our collaboration with Parkson will enhance our offline presence in addition to our existing offline-experience centers, expand our valued customer base and extend our users’ experience. Looking ahead, we aim at deepening the omni-channel services and providing more diversified product and service offerings and delivering seamless and superior shopping experience for our customers.”
About Parkson Retail Group Parkson Retail Group, the retail arm of Malaysia’s Lion Group, officially entered China’s retail market in 1994 by launching its first high-end department store in Fuxingmen, Beijing. Parkson now operates 45 outlets, including a Parkson Newcore city mall, in 31 Chinese cities across 20 provinces. With over 23 years of experience in China’s retail industry, Parkson is a household name among Chinese consumers.
About Secoo Holding Limited Secoo Holding Limited (“Secoo”) is Asia’s largest online integrated upscale products and services platform as measured by GMV in 2016. Secoo provides customers a wide selection of authentic upscale products and lifestyle services on the Company’s integrated online and offline shopping platform which consists of the Secoo.com website, mobile applications and offline experience centers, offering over 300,000 SKUs, covering over 3,000 global and domestic brands. Supported by the Company’s proprietary database of upscale products, authentication procedures and brand cooperation, Secoo is able to ensure the authenticity and quality of every product offered on its platform.
I still remember about 5 years ago,a few weeks before GE 13,one of my uncle told me parkson very cheap at 5.20. he told me that often this stock will rebound to above 6 or 7.i told him don't buy and buy SAB instead at 2.60 at that time
Why LOL? You stock can double in 2 years ? Why you so sure? Buy nestle/public bank/maybank/cimb can double in 2 years? Why buy parkson cannot double in 2 years? It has more chance that steady income stock.
BTW, I am looking for 20% return only, if not people like joetay will LOL me and side bet me cannot get double in 2 years. Better not greedy, 20% enough, I scare people will laugh at me and side bet me also.
Edge Weekly Cover Story: Potential privatisation targets Ben Shane Lim / The Edge Malaysia
February 01, 2018 16:00 pm +08
This article first appeared in The Edge Malaysia Weekly, on January 22, 2018 - January 28, 2018.
Parkson Holdings Price to book: 23.9% Net cash to share price: 96.38% Price to earnings: Loss-making Opportunity: Parkson has lots of cash on its books — RM3.197 billion — the result of the disposal of Beijing Huadesheng Property Management Co Ltd. On a net basis, Parkson has RM555.4 million cash or almost 96% of the group’s market capitalisation. The group is 32.6%-controlled by Tan Sri William Cheng.
Challenges: To take the company private, Cheng would need to muster about RM430 million (assuming a 10% premium). Funding may be challenging as Parkson is loss-making.
It also has RM2.077 billion worth of HK dollar-denominated bonds that are maturing in May this year. Refinancing the bonds may be easier with a listed entity that can tap the capital markets for funding.
Most of the group’s cash (about RM2.9 billion) is deposited in China and is subject to foreign exchange controls. Only RM110 million is estimated to be held in Malaysia.
We wont sell our share at RM1 if Parkson is offered to be privatised! Only at RM3 and above we shall consider.. CASH on hand RM3.197 BILLION. Sorry ks55, no one will sell shares to your privatisation drive at current prices.
Edge Weekly Cover Story: Potential privatisation targets Ben Shane Lim / The Edge Malaysia
February 01, 2018 16:00 pm +08
This article first appeared in The Edge Malaysia Weekly, on January 22, 2018 - January 28, 2018.
Parkson Holdings Price to book: 23.9% Net cash to share price: 96.38% Price to earnings: Loss-making Opportunity: Parkson has lots of cash on its books — RM3.197 billion — the result of the disposal of Beijing Huadesheng Property Management Co Ltd. On a net basis, Parkson has RM555.4 million cash or almost 96% of the group’s market capitalisation. The group is 32.6%-controlled by Tan Sri William Cheng.
Challenges: To take the company private, Cheng would need to muster about RM430 million (assuming a 10% premium). Funding may be challenging as Parkson is loss-making.
It also has RM2.077 billion worth of HK dollar-denominated bonds that are maturing in May this year. Refinancing the bonds may be easier with a listed entity that can tap the capital markets for funding.
Most of the group’s cash (about RM2.9 billion) is deposited in China and is subject to foreign exchange controls. Only RM110 million is estimated to be held in Malaysia.
FYI., majority shareholder like Mr WC need not come out with own money to privatise.. AND ALSO,. PARKSON HAS MONEY. read and keep up to date with management.. You want to get left behind and lose money buying expensive stocks go ahead. but dont cheat ppl who can buy bargain stocks like Parkson for long term.. Plus, if you have no short interest i'm quite sure you are a promoter for privatisation. if you are just here for fun then you must be so-high..
parkson is not a profit making company ... bet on parkson means due to its heavy asset .. its a bet of right or wrong ... dun bet on their business model, its not working for many years.
Current valuation on assets are under value, especially on China market, smart money, funds and even competitor are investing on Parkson Retail Group. http://gu.qq.com/hk03368/gp/zjc
Net asset is after deduction of debts, it is basic accounting. Parkson retails group are having meeting on 23rd Feb, earning ended 31-12 will be anounce on that day.
Stupid KS55 even parkson is below 40 cents, I still can survive and still can scold you here. You can win notting because you can't short parkson. Maybe later you can if it is over RM2
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
zoomm
91 posts
Posted by zoomm > 2018-02-02 16:32 | Report Abuse
Ks55 aggressively posting rumours and bad comments about this stock so he can collect at cheap price.