SECO - Secoo stock jumps 27% on strategic cooperation with Aladdin Technology

• Secoo ( NASDAQ: SECO ) stock jumped 27% on Thursday after the firm announced in-depth strategic cooperation with Aladdin Legend Technology, with an up to RMB 1.3B investment.
• The two firms will explore business opportunities in luxury shopping and value-added services.
• Aladdin Technology will contribute capital, talent and technological strengths, while SECO will leverage its resources in high-end fashion supply chain and sales channels.
• Aladdin Technology will initially invest up to RMB 100M to set up Secoo China Club. It, along with SECO, will lay out the high-end consumption circle and develop second-hand luxury goods transactions.
• Aladdin Technology will make a strategic investment of up to RMB 200M and subscribe for SECO's shares listed on the stock market.
• With up to RMB 1B, Aladdin Technology will join hands with SECO to promote innovation and upgrading of services overseas in the global luxury industry.

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