Gome Retail Holdings Limited · HKEX:493
Gome Retail — H1 2022 Earnings Presentation
17 slides from Gome Retail's earnings presentation, 2022
Slide 1: 2022 Interim Results Announcement
中期业绩发布 2022 2022 I N T E R I M R E S U LT S A N N O U N C E M E N T 国 美 零 售 控 股 有 限 公 司 GOME RETAIL HOLDINGS LIMITED (股份代号：0493.HK)
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”) which have been prepared by GOME Retail Holdings Limited (“GOME” or the “Company”) do not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in
Slide 3: External environment: Challenges increased; It is imperative to boost consumption
External environment: Challenges increased; It is imperative to boost consumption Economic The world’s economic growth slowed down significantly. Affected by changes in the international environment and the impact of the domestic pandemic, the domestic GDP in 1H 2022 increased by 2.5% yoy, of which
Slide 4: Performance Review
Performance Review short-term pressure on earnings 01 long-term sound fundamentals 02 The decline in revenue was mainly due to the impact of the COVID-19 pandemic and the macro economy affecting the Affected by the pandemic and other factors, the performance demand side. Thus, the company focuse
Slide 5: Strategic focus on improving quality and efficiency
Strategic focus on improving quality and efficiency Focusing on the main business with a vertical model, Gome will deepen and penetrate the retail of household appliances and consumer electronic products, forming five profit models: exhibition (offline boutique service), sales (online and offline
Slide 6: Strategic focus on improving quality and efficiency
Strategic focus on improving quality and efficiency In 1H 2022, a total of about RMB 960 million one-off expenses were incurred, including inventory impairment of RMB 470 million, prepayment impairment of RMB 220 million, and long-term supplier rebates of RMB 280 million. Excluding the above one-o
Slide 7: Optimizing the structure of offline stores
Optimizing the structure of offline stores the Company will build an all-scenario and omni-channel provider of O2O appliances and consumer electronics retail by strengthening technology empowerment, comprehensively improve the operation quality of stores Gome has 3,825 stores covering 1,379 town
Slide 8: Remodeling offline stores
Remodeling offline stores Since 2022 July, new model stores in Chongqing, Wuhan, Guangzhou, Fuzhou, Ningbo and other places opened, and more new model stores will be launched in the future. Function: Large stores focus on comprehensive experience and services, while small and medium-sized stores f
Slide 9: Upgrading supply chain model
Upgrading supply chain model Self sourcing & underwriting custom models 01 Sharing platform model 02 Based on traditional supply chain, we further Maximize the sharing of manufacturers' increased the proportion of underwriting inventory and socialized inventory system, customization to achieve p
Slide 10: Injecting high-quality assets and logistics business
Injecting high-quality assets and logistics business Injecting high-quality assets 01 Injecting profitable business 02 Gome plans to acquire the two properties owned Gome plans to acquire controlling interest in by the controlling shareholder, GOME Anxun Logistics from the controlling Commercial
Slide 11: Strengthening external strategic cooperation
Strengthening external strategic cooperation Reached the strategic cooperation with Tencent, covering big data/cloud, Internet technology, Cooperation advertising marketing, smart stores, etc.; plans to adopt Tencent's digital technology and web-traffic advantages to complement the company's shortco
Slide 12: Consolidated Income Statement Summary
Consolidated Income Statement Summary (Unit: RMB, Million) 2021 H1 2022 H1 Change Revenue 26,040 12,109 -53.5% Consolidated gross profit 3,711 2,399 -35.4% Consolidated Gross Profit Margin 14.3% 19.8% 5.5ppt Operating Profit/(Loss) (1,265) (2,465) 94.9% Operating Profit Margin -4.9% -20.4% -15.5ppt
Slide 13: Financial Position
Financial Position (Unit: RMB, Million) 2021/12/31 2022/6/30 Change Cash and cash equivalents 4,378 2,409 -45.0% Pledged bank deposits and restricted cash 13,668 13,304 -2,7% Inventories 6,352 2,646 -58.4% Inventory Turnover Days 66 81 15 days Trade payable 7,079 6,051 -14.5% Trade Payable Turnover
Slide 14: Revenue Structure - Sales by Tiers of Cities
Revenue Structure - Sales by Tiers of Cities 1st market is the main market, accounting for about 70% of the revenue, the secondary market and county-level market are strong supplements 2021 H1 County-level 2022 H1 County-level market market 12.9% 9.5% Secondary market Secondary market 21.4% 18.5% Pr
Slide 15: Cost and Expense Analysis
Cost and Expense Analysis Due to the existence of fixed expenses and the stickiness of salary, rent and other expenses, the ratio of expenses to revenue increased when revenue declined. Since Q2, as the company implements measures such as optimizing offline stores and reducing staff to increase
Slide 16: Outlook: Goals for the next three years
Outlook: Goals for the next three years Restrain in the moment Strategic focus on main business Face the reality Gather up strength for the dream Surpassing the best record in history Believe in the future Fight for value 2025 Reaching the best record in 2024 history 2023 Better profitability - 16 -
Slide 17: Have "Fun" with GOME
Have “Fun” with GOME Investor Relations Contacts Website: http://www.gome.com.hk Email: info@gome.com.hk Tel: (86) 010-59289189 19A/F, Block B, Eagle Plaza, No.26 Xiaoyun Road, Address: Chao Yang District, Beijing