Author/Wang Zhen
Gome Retail (00493.HK), which has recently been the focus of public opinion, announced on the evening of December 8 that Gome Retail and Shinning Crown Holdings Inc. (a company wholly owned by the company’s controlling shareholder Huang Guangyu) entered into a loan agreement on the same day. Shinning Crown Agreed to provide a loan of HK$150 million to the company.
The announcement stated that the loan is interest-free and unsecured, with an initial term of 6 months, which can be extended by both parties in writing before the expiry date. The loan proceeds will be used by Gome Retail for general working capital.
It is understood that this amount is obtained from Huang Guangyu’s previous reduction of stock holdings. Huang Guangyu intends to support the liquidity of listed companies without interest and collateral, including but not limited to solving part of the wages of employees.
Prior to this, the topic of “Gome stopped paying employees’ wages” rushed to Weibo hot searches many times. In this regard, Gome Retail said that due to the major challenges and influences of the internal and external complex environment, the company’s strategic transformation is facing unprecedented difficulties. Regarding the adjustment of the salary distribution policy, the company has fully communicated with the employees through the human resources system and various management lines. “The company promises that the temporary adjustment is only a short-term, phased emergency measure. Once the business operation improves, the company will make up the salary for everyone as soon as possible, and at the same time honor the corresponding compensation for the resigned employees.”
Next, where Gome will go, how to repay the money owed to suppliers, and how to survive the “slimming” retail business are all worthy of attention. On December 8, Gome Retail’s share price fell 1.24% to HK$0.159 per share.
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Event Tracking
- 2022-12-08 Gome Retail received a loan of 150 million Hong Kong dollars from Huang Guangyu Company to solve the problem of employee wages
- 2022-12-01 Gome denies being filed for bankruptcy liquidation
- 2022-11-18 Gome Retail: Terminate the acquisition of Gome Shangdu and Xiangjiang No. 9 properties from Huang Guangyu
- 2022-11-03 Gome insider: The salary is either not paid or delayed, and the company is negotiating financing with Xiamen C&D
- 2022-11-03 Gome requires employees to sign a letter of commitment, and wages may be delayed in the next six months to one year
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