Gome Retail Holdings (HKG:0493) expects up to 20% wider loss attributable to owners of the parent for 2024 compared with 10.1 billion yuan from 2023, a Friday Hong Kong bourse filing said.
The company attributed the expected decrease to a decrease in revenue, an increase in joint and several liabilities from bankrupted subsidiaries, and impairment losses on assets.
The company expects to log a 20% to 30% decline in its sales revenue for the reporting period as well, attributable to the suspension of the supply of goods from certain major suppliers due to debt issues.
As of Dec. 31, 2024, the group's principal amount of overdue interest-bearing bank and other borrowings amounted to 18.7 billion yuan.
The group had 772 pending lawsuits involving an amount of 5.5 billion yuan as of Dec. 31, 2024, of which 44.1 billion yuan were related to pending cases with banks and financial institutions.
The group's frozen funds amounted to 60 million yuan as of Dec. 31, 024.
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