Gome Retail: major shareholders such as Huang Guangyu reduce their holdings of about HK $531 million

According to data from the Hong Kong Stock Exchange, Huang Guangyu, Dujuan, Henghai Investment Co., Ltd., and Gome Management Co., Ltd., major shareholders of 00493.HK, reduced their holdings of about 2.737 billion shares on September 14, totaling about HK $531 million, according to CTOnews.com Sept. 19.

On the evening of September 13, Zhongguancun, an A-share company, issued a notice saying that some of Gome's shares in Zhongguancun were re-frozen by the court and waiting to be frozen, according to the Financial Associated Press. Gome retail fell more than 20% in 14 days. According to media reports, Gome retail major shareholders reduced their holdings through bulk transactions on the same day, mainly used to supplement business liquidity and repay part of the maturing debt.

CTOnews.com learned that at the end of August this year, Gome Retail holding Co., Ltd. issued a "profit warning announcement" and expected a loss of more than 2.5 billion yuan in the first half of 2022.

Huang Guangyu said that as a major shareholder, he will encourage the management team to bet on better performance in the future. to achieve the three-year strategic development goal of "one year to one year": to achieve higher profits and reach previous levels by 2023, to reach an all-time high level in 2024, and to significantly surpass the best level in 2025.

In addition, Mr Huang said that in February last year, he had put forward a development goal to the management team-"strive to use the next 18 months to restore Gome to its original market position". "now it seems that times have changed and we have not anticipated the difficulties of implementation, coupled with the long-term disturbance of the epidemic, resulting in a gap between reality and this goal."