Articles from D-MARKET Elektronik Hizmetler ve Ticaret A.Ş

ISTANBUL, Feb. 01, 2025 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces the voting results of the Extraordinary General Assembly Meeting of Shareholders (“EGM”) held on January 31, 2025, the new composition of the Committees of its Board of Directors (“Board”), and the appointment of a General Counsel and Corporate Secretary.

ISTANBUL, Jan. 29, 2025 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), announces the closing (the “Closing”), on January 29, 2025 (the “Closing Date”), of the previously disclosed transaction between Joint Stock Company Kaspi.kz, a joint stock company incorporated under the laws of Kazakhstan (the “Buyer”), and Hanzade Vasfiye Doğan Boyner, Hepsiburada’s founder, Vuslat Doğan Sabancı, Yaşar Begümhan Doğan Faralyalı, Arzuhan Doğan Yalçındağ and Işıl Doğan (collectively, the “Sellers”), pursuant to the Stock Purchase Agreement (the “Agreement”) entered into on October 17, 2024 by and among the Buyer and the Sellers.

ISTANBUL, Jan. 17, 2025 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading e-commerce technology platform in Türkiye, and Vodafone Türkiye, a leading mobile telecommunications company, have announced a strategic collaboration aimed at enhancing customer experience in the e-commerce and telecommunication sectors.

ISTANBUL, Jan. 03, 2025 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announces that, as of January 2, 2025, the four regulatory approvals required for effecting the previously announced sale and purchase of 65.4% of the total outstanding shares of the Company pursuant to the stock purchase agreement dated October 17, 2024, between Joint Stock Company Kaspi.kz, as buyer, and the selling controlling shareholders of Hepsiburada identified therein, as sellers (the “Stock Purchase Agreement”) have been granted. The relevant regulatory authorities identified in the Stock Purchase Agreement were the following: the Turkish Competition Board, the Banking Regulation and Supervision Agency, the Information Technologies and Communications Authority and the Central Bank of the Republic of Türkiye.

ISTANBUL, Dec. 26, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces a change to the composition of its Board of Directors.

ISTANBUL, Dec. 13, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announces the 21-month results of the “Trade and Technology Empowerment for the Earthquake Region” program (the “Program”) for the period from March 6, 2023 to December 4, 2024.

D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the third quarter and the nine months ended September 30, 2024.

ISTANBUL, Türkiye, Dec. 03, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQHEPS), a leading Turkish e-commerce platform, has been recognized with five awards at the International Customer Experience Awards, hosted by the UK-based Customer Experience Magazine. Customer Experience Magazine is a globally recognized platform showcasing industry news, insights, and success stories related to customer experience.

ISTANBUL, Nov. 19, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the third quarter ending September 30, 2024 before the U.S. market opens on Tuesday, December 10, 2024.

ISTANBUL, Nov. 06, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, today announced the second bond issuance of its indirect wholly owned subsidiary, Hepsi Finansman A.Ş. (“Hepsifinans”), at a nominal value of TRY 150 million.

Partnership with Leading Turkish E-commerce Technology Platform to Expand Product Access for North African Consumers

ISTANBUL, Oct. 18, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), refers to the Form 6-K filed by Joint Stock Company Kaspi.kz, a joint stock company incorporated under the laws of Kazakhstan (the “Buyer”) on October 18, 2024 (the “Form 6-K”) regarding the entry on October 17, 2024 (the “Signing Date”) by the Buyer into a Stock Purchase Agreement (the “Agreement”) with the selling stockholders of Hepsiburada identified therein, being Hanzade Vasfiye Doğan Boyner, Hepsiburada’s founder, Vuslat Doğan Sabancı, Yaşar Begümhan Doğan Faralyalı, Arzuhan Doğan Yalçındağ and Işıl Doğan (collectively, the “Sellers”). Pursuant to the terms of the Agreement, subject to, among other conditions, the receipt of certain regulatory approvals, the Buyer will purchase from the Sellers all of the outstanding Class A shares and Class B shares of the Company held by the Sellers as of the Signing Date.

ISTANBUL, Oct. 10, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, today announced the first bond issuance of its indirect wholly-owned subsidiary, Hepsi Finansman A.Ş. (“Hepsifinans”), at a nominal value of TRY 250 million.

ISTANBUL, Sept. 30, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQHEPS), a leading Turkish e-commerce platform, today announced the second issuance of asset-backed securities amounting to TRY 350 million.

ISTANBUL, Sept. 26, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (NASDAQHEPS), (“Hepsiburada” or the “Company”), a leading Turkish e-commerce platform, today announced that the Board of Directors (recently appointed by the General Assembly of Shareholders of the Company on September 12, 2024), in accordance with the Turkish Commercial Code, has determined the composition of its Committees and assigned additional functions to its Risk Committee.

ISTANBUL, Sept. 25, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announces the 18-month results of the “Trade and Technology Empowerment for the Earthquake Region” program (the “Program”) for the period from March 6, 2023 to September 6, 2024. 

ISTANBUL, Sept. 20, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), has published its 2023 Sustainability Report. Hepsiburada is the first e-commerce platform in Türkiye to sign the United Nations (“UN”) Global Compact.

ISTANBUL, Sept. 11, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the second quarter and the six months ended June 30, 2024.

ISTANBUL, Aug. 27, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the second quarter ending June 30, 2024 before the U.S. market opens on Wednesday, September 11, 2024.

ISTANBUL, Aug. 09, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS) (the “Company”), a leading Turkish e-commerce platform, will hold its Ordinary General Assembly Meeting of Shareholders (the “General Assembly”) with respect to the financial year 2023, on Thursday, September 12, 2024 at 11:00 Istanbul time at the Company’s headquarters at Kuştepe Mahallesi, Mecidiyeköy Yolu Caddesi, No:12 Trump Towers, Tower No:2 Şişli, İstanbul.

ISTANBUL, Türkiye, June 13, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the first quarter ended March 31, 2024.

ISTANBUL, Türkiye, May 30, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the first quarter ending March 31, 2024 before the U.S. market opens on Thursday, June 13, 2024.

ISTANBUL, Türkiye, March 25, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the fourth quarter and full year ended December 31, 2023.

ISTANBUL, Türkiye, March 13, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the fourth quarter and full year ending December 31, 2023 before the U.S. market opens on Monday, March 25, 2024.

ISTANBUL, Türkiye, Feb. 06, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), on the first year anniversary of the 7.8 magnitude earthquake that struck eleven cities in the southeast Türkiye on February 6, 2023, today announces the eleven months' results of its “Trade and Technology Empowerment for the Earthquake Region” program (the “Program”) for the period from March 6, 2023 to February 1, 2024.

ISTANBUL, Türkiye, Jan. 24, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announced a change to the composition of its Board of Directors.

ISTANBUL, Türkiye, Jan. 03, 2024 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announced that M. Seçkin Köseoğlu has officially taken on the role of the Company’s Chief Financial Officer (“CFO”), effective January 1, 2024. As previously announced on August 18, 2023, former CFO, Mr. Öz, will continue to hold his current board member positions in certain subsidiaries of the Company.

ISTANBUL, Türkiye, Dec. 05, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the third quarter ended September 30, 2023.

ISTANBUL, Türkiye, Nov. 24, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its third quarter 2023 results on December 5, 2023. Hepsiburada also announces today the incorporation of Hepsiburada Global B.V.

ISTANBUL, Turkey, Oct. 27, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announced a change to the composition of its Board of Directors.

ISTANBUL, Turkey, Oct. 24, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announced the finalization of the class actions and changes to its executive management team.

ISTANBUL, Türkiye, Oct. 06, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announced the Board of Directors’ decision to make certain changes to the composition of its Audit Committee and Corporate Governance Committee.

ISTANBUL, Sept. 28, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announced that the Company has signed a contribution agreement (the “Contribution Agreement”) with TurkCommerce B.V. (“TurkCommerce”) pursuant to which the Company has agreed to purchase 4,615,384 Class B ordinary shares of the Company from TurkCommerce against payment of USD 5,732,306.93 (the “Share Purchase Price”), corresponding to a purchase price per share of USD 1.242 (the “Transaction”).

ISTANBUL, Türkiye, Aug. 24, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the second quarter ended June 30, 2023.

ISTANBUL, Türkiye, Aug. 18, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announced that H. Korhan Öz has decided to step down from his position as Chief Financial Officer (“CFO”) of the Company, effective December 31, 2023, to pursue other business interests. M. Seçkin Köseoğlu has been appointed as the new CFO of the Company, effective January 1, 2024. Mr. Öz will remain with the Company to facilitate a smooth transition and a comprehensive handover of his duties, until December 31, 2023. Mr. Öz will continue to hold his current board positions in certain subsidiaries of the Company.

ISTANBUL,Türkiye, Aug. 10, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the second quarter ending June 30, 2023 before the U.S. market opens on Thursday, August 24, 2023.

ISTANBUL, Turkey, July 27, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS) (the “Company”), a leading Turkish e-commerce platform, will hold its 2022 Annual General Assembly on Friday, August 25, 2023 at 11:00 İstanbul time at the Company’s headquarters at Kuştepe Mahallesi, Mecidiyeköy Yolu Caddesi, No:12 Trump Towers Kule:2 Şişli, İstanbul.

ISTANBUL, Türkiye, June 20, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (the “Company”) (NASDAQHEPS), a leading Turkish e-commerce platform, today announced that, on June 14, 2023, at the recommendation of the audit committee, the Company’s Board of Directors appointed PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. (“PwC”) as its independent registered public accounting firm for the audit of the consolidated financial statements of the Company with respect to the financial year of 2023, subject to approval by the general assembly of shareholders of the Company in accordance with the Turkish Commercial Code. The Company’s agreement with Guney Bagimsiz Denetim Ve Serbest Muhasebeci Mali Musavirlik A.S. with respect to the audit of the consolidated financial statements of the Company for the financial year of 2022 is scheduled to expire in the ordinary course at the date of the next general assembly of shareholders of the Company to be held in 2023.

ISTANBUL, Türkiye, May 25, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the first quarter ended March 31, 2023.

ISTANBUL, Türkiye, May 23, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, today released its 2022 Sustainability Report. Certified by the Global Reporting Initiative, the report is a first in the e-commerce sector in Türkiye.

ISTANBUL, Turkey, May 15, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the first quarter ending March 31, 2023 before the U.S. market opens on Thursday, May 25, 2023.

ISTANBUL, Türkiye, May 01, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2022 with the Securities and Exchange Commission (the “SEC”) on May 1, 2023. The annual report on Form 20-F can be accessed under the SEC Filings section on Hepsiburada’s investor relations website at https://investors.hepsiburada.com/en/financials/sec-filings as well as on the SEC’s website at http://www.sec.gov.

ISTANBUL, Türkiye, April 11, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announced today that on April 6, 2023 it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company has regained compliance with the minimum bid price requirement of US$1.00 per share under Nasdaq Listing Rule 5450(a)(1). For the 10 consecutive business days prior to the receipt of the said letter, the closing bid price of the Company’s American depositary shares (“ADSs”), each representing one Class B ordinary share of the Company, had been trading at US$1.00 per ADS or greater. Nasdaq indicated within the letter that this matter is now closed.

ISTANBUL, Turkey, March 24, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announces that on March 22, 2023 it received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price for the Company's American depositary shares (“ADSs”), each representing one Class B ordinary share of the Company, had closed below the minimum bid price requirement (“Minimum Bid Requirement”) of US$1.00 per share under the Nasdaq Listing Rules (the “Listing Rules”). Based on the closing bid price of the Company’s ADSs for the last 30 consecutive business days, the Company has failed to meet the Minimum Bid Requirement for continued listing on the Nasdaq Global Select Market set forth in Listing Rule 5450(a)(1) during that period. The Notice is only a notification that the Company is not in compliance with the Minimum Bid Requirement, it is not a notice of imminent delisting, and it has no immediate effect on the listing or trading of the Company’s ADSs on the Nasdaq Global Select Market.

ISTANBUL, Türkiye, March 22, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the fourth quarter and full year ended December 31, 2022.

ISTANBUL, Türkiye, March 08, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the fourth quarter and full year ending December 31, 2022 before the U.S. market opens on Wednesday, March 22, 2023.

ISTANBUL, Türkiye, Feb. 15, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announced today its initial assessment of the impact of the earthquake on February 6, 2023 in the Republic of Türkiye, on its business and operations.

ISTANBUL, Feb. 01, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announced today that on January 31, 2023 it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), indicating that the Company has regained compliance with the minimum bid price requirement of US$1.00 per share under Nasdaq Listing Rule 5450(a)(1). For the prior 10 consecutive business days, the closing bid price of the Company‘s American depositary shares (“ADSs”), each representing one Class B ordinary share of the Company, had been at US$1.00 per ADS or greater. Nasdaq indicated within the letter that this matter is now closed.

ISTANBUL, Turkey, Jan. 04, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces certain changes to its Board of Directors and its executive management team.

ISTANBUL, Turkey, Dec. 06, 2022 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), today announces its unaudited financial results for the third quarter ended September 30, 2022.

ISTANBUL, Turkey, Nov. 21, 2022 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform, will report its unaudited financial results for the third quarter ending September 30, 2022 before the U.S. market opens on Tuesday, December 6, 2022.

ISTANBUL, Nov. 04, 2022 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQHEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announces that on November 3, 2022 it received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price for the Company‘s American depositary shares (“ADSs”), each representing one Class B ordinary share of the Company, had closed below the minimum bid price requirement (“Minimum Bid Requirement”) of US$1.00 per share under the Nasdaq Listing Rules (the “Listing Rules”). Based on the closing bid price of the Company’s ADSs for the last 30 consecutive business days, the Company has failed to meet the Minimum Bid Requirement for continued listing on the Nasdaq Global Select Market set forth in Listing Rule 5450(a)(1) during that period. The Notice is only a notification that the Company is not in compliance with the Minimum Bid Requirement, it is not a notice of imminent delisting, and it has no immediate effect on the listing or trading of the Company’s ADSs on the Nasdaq Global Select Market.