Gome Retail received a loan of HK$150 million from Huang Guangyu Company

08/12/2022
Gome Retail, which has recently been the focus of public opinion, announced on the evening of December 8 that on the same day, Gome Retail entered into a loan agreement with Shinning Crown Holdings Inc. (a company wholly owned by the company’s controlling shareholder Huang Guangyu), and Shinning Crown agreed to provide the company with 1.50 million Hong Kong dollars in loans. The loan proceeds will be used by Gome Retail for general working capital. It is understood that this amount was obtained by Huang Guangyu from reducing his stock holdings before. On December 5, nearly a hundred Gome employees surrounded Huang Guangyu’s office to ask for salary. Huang Guangyu had a physical conflict with the employees. | Related reading (Tiger Sniff)

Shi Jingshan Xin Zhilei

Gome’s situation has not improved because of Huang Guangyu’s return, but it has made people understand that the past of an era is the past. Huang Guangyu missed the gradual evolution of the electrical appliance retail industry over the past ten years, which cannot be caught up by overnight reforms.

The company’s declining trend is hard to resist. Now Huang Guangyu needs to decently and properly solve the problem of supplementing employee benefits, which is more important than revitalizing Gome. If a company treats its employees badly during the downs, it will lose hearts during the ups. What about the future?

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