GigaCloud Technology Responds to Misleading Short Seller Report with Independent Review

GigaCloud Technology Inc, a global pioneer in end-to-end B2B ecommerce solutions for large parcel merchandise, has issued a statement in response to a recent short seller report that contained misleading and self-serving claims. The company firmly asserts that the conclusions drawn in the report are unsupported and inaccurate, highlighting a lack of understanding of GigaCloud’s business and industry.

To address the allegations made in the short seller report, GigaCloud’s board of directors has authorized an independent third-party review. This review aims to provide transparency, protect shareholders’ interests, and uphold high standards of corporate governance. The company stands by its previous statement that the report lacks merit and includes defamatory and speculative statements.

GigaCloud Technology Inc is committed to its mission of providing a comprehensive B2B ecommerce platform, known as the “GigaCloud Marketplace.” This platform seamlessly integrates discovery, payments, and logistics tools into one user-friendly solution. By connecting manufacturers primarily in Asia with resellers across the US, Asia, and Europe, GigaCloud enables cross-border transactions with confidence, speed, and efficiency.

Since its launch in January 2019, the GigaCloud Marketplace has expanded beyond the global furniture market to include categories such as home appliances and fitness equipment. The company’s end-to-end solution ensures a seamless journey from the manufacturer’s warehouse to the customer’s doorstep, all at a fixed price.

GigaCloud Technology Inc encourages investors to review its forward-looking statements, which reflect the company’s current view on future events. While the company believes these expectations are reasonable, it acknowledges that actual results may differ and advises investors to consider other factors that may impact future outcomes.

For further information, please visit GigaCloud Technology Inc’s website at https://investors.gigacloudtech.com/.

Media and investor inquiries can be directed to Greta Tang, PR & IR Manager, at greta.tang@gigacloudtech.com or Ryan Gardella at GigacloudIR@icrinc.com.

In summary, GigaCloud Technology Inc remains committed to its mission of providing innovative B2B ecommerce solutions and is taking proactive steps to address the misleading claims made in the short seller report. The company’s dedication to transparency and shareholder protection underscores its commitment to maintaining high standards of corporate governance.