HONG KONG, Apr 1, 2025 - Gome Retail Holdings Limited (Stock code: 493.HK, "Gome Retail" or the "Company"), together with its subsidiaries, "the Group") announced its audited annual results during the twelve months ended December 31, 2024 (the "reporting period").Focusing on the main industry to consolidate the border, take multiple measures to actively resolve the debt problem
In 2024, domestic economic recovery is weak, with asevere and complex external international environment compounded by domestic economic and policy cycle factors. Domestic demand remained sluggish, directly impacting the industry to which our group belongs, which continued to experience a downturn. In 2024, the Group recorded sales revenue of approximately RMB 474 million; and loss attributable to owners of the parent of approximately RMB11,629 million.
In 2024, Gome Retail continued to promote strategic transformation and upgrading and actively explored new businesses. However, in the fourth quarter of 2024, the government introduced several significant stimulus policies, the Group seizes opportunities and rides on the momentum, intensified efforts in model transformation and business innovations, such as franchise and quasi-franchise models and GOME Auto. In addition, recently, an agreement has been reached with JD on the CB debt disposal plan, which will clear all CB debts within two years through asset transfers and issuing shares.
Reinventing retail business, accelerate the expansion of franchise
Gome Retail accelerates its asset-light model and builds a closed loop of "brand authorization + supply chain empowerment + digital platform". Regarding franchising, comprehensively open brand authorizations, focus on supply chain model innovation, shift from appliance franchising to comprehensive business format investment, quickly build online and offline franchise networks at all levels. In terms of franchising, based on equity cooperation, we will focus on encouraging single-store franchising with an operating model of "light assets, heavy operations, and strong management", and build an "online and offline" pan-home appliance and surrounding franchise network for the entire industry with the city display stores display as the core. In the future, the Group targeted to sign more than 1000 franchise agreements, striving to become a leading comprehensive service provider integrating "offline and online franchise networks + supply chain + capital chain + industry chain + service chain".
Actively explore new business growth curves and innovate new forms of automobile distribution
During the reporting period, the company focused on its core business while seizing the development opportunities of the automobile industry and actively made strategic arrangements in the automobile distribution field. Aiming at the development pain points in the field of automobile distribution, relying on its own national channel network and business experience and other advantages, Gome is committed to creating a new industrial chain ecological benchmark for the automobile distribution industry based on cooperation and win-win results. During the reporting period, the first Gome Smart Car Experience Hall, located in Xibahe, a prime location in Beijing, is ready to go. It will bring together about 30 new energy vehicle brands to create a large-scale, comprehensive automobile consumption scene that integrates display, experience.
Click here to continue