Boqii changing ADS ratio to one ADS per 15 ordinary shares

Boqii will change its ratio of its American Depositary Shares – ADSs – to Class A ordinary shares from one ADS representing 4.5 Class A ordinary shares to one ADS representing 15 Class A ordinary shares. The ADS Ratio Change is expected to become effective on or about August 21. For Boqii’s ADS holders, the ADS Ratio Change will have the same effect as a 3-for-10 reverse split on the existing ADSs. No fractional new ADSs will be issued in connection with the ADS Ratio Change. Boqii’s ADSs will continue to be traded on the NYSE under the ticker symbol “BQ“. As a result of the ADS Ratio Change, the ADS price is expected to increase proportionally, although the company can give no assurance that the ADS price after the ADS Ratio Change will be equal to or greater than 10/3 times the ADS price before the change.