Secoo Group and Jinan Shanzaicheng Company Reached High-end Supply Chain Cooperation to Boost the High-end Consumer Market in Jinan, Shandong Province

BEIJING, Nov. 7, 2022 /PRNewswire/ — Secoo Group (NASDAQ: SECOO), Asia’s leading online and offline boutique lifestyle platform, today announced that Secoo Group and Jinan Shanzaicheng Development Co., Ltd. (hereinafter referred to as "Shanzaicheng Company"), a subsidiary of Shandong Mingshui Guokai Development Group Co., Ltd. (hereinafter referred to as "Guokai Group"), have reached a deep cooperation. Both parties will invest their own superior resources in the luxury goods supply chain, international trade, Jinan and Shandong regional market development Cooperate in the operation and consumption upgrading of physical stores to achieve industrial expansion and upgrading and win-win results for both sides. In this cooperation, Shanzaicheng is expected to invest about 500 million in the future to support the supply chain cooperation between the two sides.

About Secoo Group

Secoo, a world-famous luxury shopping service platform, the only luxury e-commerce company listed on NASDAQ in China, has more than 50 million high-end registered users, and is a well-known online and offline boutique lifestyle platform in Asia, including more than 100 international luxury brands, more than 3800 high-end brands, bringing together 400 thousand goods from all over the world in categories including luxury goods trading, medieval second-hand trading, fashion event shows, identification, maintenance, fashion wear, beauty, 3C digital, food and wine, Chinese famous objects, lifestyle goods, high-end hotel reservation and other businesses which are committed to presenting global good things and high-end lifestyle to every user of Secoo. Give you the beauty of the world!

About Guokai Group

Guokai Development Group is a state-owned platform company in Zhangqiu District, Jinan City, Shandong Province, and also a market player of Development Zone Management Committee and Platform Company. With 26 subsidiaries, Guokai Development Group is a wholly state-owned enterprise group integrating financial investment and diversified trade development based on the construction, operation, management, service and municipal support of industrial parks. At present, it has a total assets of 15.8 billion yuan and a credit rating of AA+.

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