Boqii announces ADS ratio change

Boqii (BQ) Holding announced that it will change its ratio of its American Depositary Shares to Class A ordinary shares from one ADS representing fifteen Class A ordinary shares to one ADS representing one hundred and fifty Class A ordinary shares. The ADS Ratio Change is expected to become effective on or about January 21. For Boqii’s ADS holders, the ADS Ratio Change will have the same effect as a 1-for-10 reverse split on the existing ADSs. Each ADS holder on the ADS Ratio Change Effective Date will be required on mandatory basis to surrender to The Bank of New York Mellon, as depositary, for Boqii’s ADS program, every 10 old ADSs held in exchange for one new ADSs. No action is required by holders of uncertificated ADSs to effect the ADS Ratio Change as the change will be effected on the books of the Depositary.