GOME Retail Holdings Updates on Financial Restructuring Efforts
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GOME Retail Holdings (HK:0493) has updated its financial restructuring efforts, addressing an auditor's disclaimer regarding its FY2024 financial statements. The company is negotiating debt-to-equity swaps worth RMB1,290 million and restructuring convertible bonds with JD.com and Pinduoduo. It aims to restore its supply chain and improve cash flow, although consensus with major suppliers is pending. GOME operates in the retail industry and has a current market cap of HK$839M, with a year-to-date price performance of -10.0%.
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