Brief: Gome Retail Says Results For FY 2022 Are Expected To Decline Significantly

GOME Retail Holdings

21/10/2022 15:54

Oct 21 (Reuters) - GOME Retail Holdings Ltd  0493.HK :
    * SEES ACCUMULATED SALES REVENUE FOR FIRST 3 QTRS HAS
DECLINED BY
ABOUT 55% TO 60%
    * RESULTS FOR FULL YEAR OF 2022 ARE EXPECTED TO DECLINE
SIGNIFICANTLY AS COMPARED WITH PREVIOUS YEAR
    * TOTAL OF ABOUT 55 MILLION SHARES IN BEIJING CENTERGATE
TECHNOLOGIES (HOLDINGS) CO., LIMITED HELD BY GROUP WERE FROZEN
    * DECREASE IN REVENUE HAS RESULTED IN LOANS PAYABLE BY GROUP
TO
CERTAIN FINANCIAL INSTITUTIONS BECOMING OVERDUE
    * DECREASE IN REVENUE HAS RESULTED IN LOANS PAYABLE BY GROUP
TO
CERTAIN FINANCIAL INSTITUTIONS BECOMING OVERDUE
    * MANAGEMENT OF COMPANY WILL TAKE COST REDUCTION AND
EFFICIENCY
ENHANCEMENT AS MAIN STRATEGIC GOAL
    * SEES TO REALISE IMPROVEMENT OF CO'S OPERATION CAPACITY BY
SHUTTING DOWN INEFFICIENT STORES, REORGANISING BUSINESS SEGMENTS

Source text for Eikon:  ID:nHKS2RK9JG 
Further company coverage:  0493.HK 
 ((Reuters.Briefs@thomsonreuters.com;))