Lei Di.com Lei Jianping December 13
The share price of pet e-commerce company Boqi Pets (stock code: "BQ") fell 54.95% today; as of today's close, the company's share price was US$1 and its market value was US$4.587 million.
In October 2023, Boqi Pets announced that the company would voluntarily delist from the New York Stock Exchange and transfer to the Pink Sheets market for trading.
Boqi Pets was listed on the New York Stock Exchange in October 2020. The issue price was US$10, 7 million shares were issued, and US$70 million was raised.
However, Boqi Pets had an unfavorable first day of listing. It broke shortly after the opening, with a maximum drop of more than 30%. At the closing price, the stock price was 7.2 US dollars, a drop of 28%. Calculated based on the market value at the closing time, Boqi Pets' market value was US$650 million.
If calculated based on today's stock price, Boqi Pets' market value has evaporated by more than 99% since its listing.
Boqi Pets was founded in early 2008, starting from the forum community, and then entered the pet e-commerce field. In 2014, it entered the pet service field. It owns the pet APP "Boqi Pets".
The financial report shows that in the six months ended March 31, 2023, Boqi Pet’s revenue was 503 million yuan, a decrease of 13.7% from the revenue of 583 million yuan in the same period last year; the operating loss was 74.2 million yuan, and the net loss was 76.5 million yuan. .
As of March 31, 2023, Boqi Pets held cash, cash equivalents, and short-term investments of 160 million yuan, while as of March 31, 2022, Boqi Pets held cash, cash equivalents, and short-term investments of 2.91 million yuan. billion.
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