Boqii announces 1-for-160 reverse split, updates listing status

SHANGHAI, July 2, 2025 /PRNewswire/ -- As Boqii Holding Limited ("Boqii" or the "Company") (NYSE American: BQ) previously announced, the Company plans to cease the listing of its American Depositary Shares (the "ADSs") on the NYSE American LLC ("AMEX") and list its Class A ordinary shares of a par value of US$0.16 each on a post-reverse stock split basis for trading on AMEX in substitution for its ADSs (the "Substitution Listing"). The Company expects that its ADSs will cease trading on AMEX at 4:00 p.m. (New York Time) on July 10, 2025, and that the ADR Facility will be terminated as of the close of business (New York Time) on July 11, 2025.

In addition, The Bank of New York Mellon (the "Depositary") of the Company's ADS will distribute to all holders and beneficial owners of the Company's ADRs a notification (the "Termination Notice") regarding termination of the Deposit Agreement, dated July 1, 2025 by and among the Company, the Depositary, and all holders and beneficial owners of the ADRs dated September 29, 2020 (the "Deposit Agreement"). The effective date for the termination of the Deposit Agreement will be July 11, 2025 (the "Effective Date").

Immediately following the termination of the ADR Facility and on the Effective Date, the Company will implement a reverse stock split (the "Reverse Split"), pursuant to which every 160 existing ordinary shares of a par value of US$0.001 each will be consolidated into one new ordinary share of a par value of US$0.16 each. As a result, on the Effective Date, each holder of the Company's ordinary shares should expect to receive one (1) new ordinary share, with a par value of US$0.16 each, for every 160 existing ordinary shares previously held; while holders of ADSs will have their ADSs automatically cancelled and would be entitled to receive the corresponding underlying Class A ordinary shares, par value $0.16 per share, at a rate 15/16, or 0.9375 new class A ordinary share for each ADS cancelled (the "Mandatory Exchange"). All resulting fractional shares will be rounded up to the nearest whole number of shares on the participant level.

The Company expects that its Class A ordinary shares will commence trading on AMEX on a post- Reverse Split basis and after the Mandatory Exchange under the symbol "BQ" on July 11, 2025. Following the Reverse Split, the Company's total outstanding ordinary shares will be reduced to 2,879,559 shares, comprising 2,798,073 Class A ordinary shares and 81,486 Class B ordinary shares. The Company expects that the trading price of its consolidated Class A ordinary shares will be adjusted as a result of the Mandatory Exchange and the Reverse Split. The new CUSIP number for the consolidated Class A ordinary shares will be G1311F119.