Secoo Holding Limited announced that it has established in-depth strategic cooperation with Aladdin Legend Technology Co., Ltd., and will strategically cooperate with Secoo Group in three steps, with an investment amount of up to RMB 1.3 billion. Aladdin Technology Group committed to investment in and development of innovative businesses in the fields of community economy and industrial Internet. The two companies will jointly explore business opportunities in luxury shopping and value-added services, tapping into community economy meanwhile providing support for a fast-growing portfolio of China's domestic brands, with Aladdin Technology contributing its capital, talent and technological strengths and Secoo leveraging its resources and expertise in high-end fashion supply chain and sales channels.

The in-depth strategic cooperation between Aladdin Technology Group and Secoo Group is divided into three parts: First, the establishment of "Secoo China Club", Aladdin Technology Group will invest up to RMB 100 million, and together with Secoo, it will lay out the high-end consumption circle and jointly develop second-hand Luxury goods transactions. In addition, the two parties will simultaneously promote the establishment of the "China Department Store Home" public circle, and through the empowerment of the community economy, it will help local enterprises to generate international brands in the field of boutique consumption and enhance their global influence; 2. The Aladdin Technology Group will make a strategic investment of up to RMB 200 million, and carry out in-depth cooperation by subscribing for the main shares of Secoo listed on the stock market. With up to RMB 1 billion, will join hands with Secoo to go overseas to promote the innovation and upgrading of services in the global luxury industry.

The specific cooperation and transaction content of the above three parts shall be agreed upon by the two parties separately signing relevant agreements.