Key Developments: Gome Electrical Appliances Holding Ltd (0493.HK)
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68,861,651
53,340,511
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Latest Key Developments (Source: Significant Developments)
GOME Electrical Appliances Holding Ltd Does Not Recommend Final Dividend
GOME Electrical Appliances Holding Ltd announced that the Board does not recommend the payment of a final dividend for the year ended December 31, 2012. Full Article
GOME Electrical Appliances Holding Ltd Comments On FY 2012 Profit Guidance
GOME Electrical Appliances Holding Ltd announced that the Group expects to record a net loss for fiscal 2012, which is mainly attributable to a drop in the Group’s sales revenue, an increase in the Group’s rental expenses as well as loss incurred by the Group’s e-commerce business during the year. These factors are closely linked with the negative impact on the Group’s business brought about by the consumption overdrafts as well as poor consumer sentiments and confidence as a result of the China’s macro economic growth slowdown and economic stimulus policies termination, coupled with the fact that the Group’s e-commerce business is still at its integration and initial investment stage. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $(433.63) million for fiscal 2012. Full Article
GOME Electrical Appliances Holding Ltd Does Not Recommend Interim Dividend
GOME Electrical Appliances Holding Ltd announced that its Board does not recommend the payment of an interim dividend so as to preserve capital for funding needs of the Group. Full Article
GOME Electrical Appliances Holding Ltd. Comments On H1 2012 Earnings Guidance
GOME Electrical Appliances Holding Ltd. announced that for the first half of 2012, it expects to record net loss, which is primarily due to a drop in the group’s sales revenue and loss attributable to the group’s e-commerce business. Full Article
Microsoft Corp. Sues GOME Electrical Appliances Holding Ltd. For Alleged Copyright Infringement-Reuters
Reuters reported that Microsoft Corp. has sued GOME Electrical Appliances Holding Ltd. for allegedly infringing on the copyright of its software. Microsoft has filed lawsuits in the Shanghai Huangpu District People's Court and the Beijing Second Intermediate People's Court against Gome and Beijing Chaoyang Buynow mall to get both parties to stop infringing on its copyrights and for a compensation of losses. Full Article
GOME Electrical Appliances Holding Ltd. Announces Termination Of Property Joint Venture By Its Subsidiary
GOME Electrical Appliances Holding Ltd. announced that given the recent volatility and uncertainty in the macroeconomic environment which hampered the visibility over the property market in the near term, Pengze, Beijing Eagle and Beijing GOME have mutually agreed to terminate the Property Joint Venture Agreement on November 29, 2011. None of the parties is entitled to claim the other for any losses, damages or expenses as a result of the termination. As the Property Joint Venture has not been established and no capital has been contributed by the parties, the Board does not consider the termination of the Property Joint Venture Agreement will have any material adverse effect on the operation of the Company. Full Article
GOME Electrical Appliances Holding Ltd. Declares Interim Dividend
GOME Electrical Appliances Holding Ltd. announced that it has declared an interim dividend of HKD0.027 per ordinary share (the Interim Dividend) for the six-month period ended June 30, 2011, amounting to approximately HKD454,937,000 (equivalent to RMB378,335,000) to shareholders whose names appear on the register of members of the Company on September 28, 2011. The interim dividend will be payable on or about October 21, 2011. Full Article
China's GOME sees profitable e-commerce business in 2014
HONG KONG, June 10 - GOME Electrical Appliances Holdings Ltd, backed by private equity firm Bain Capital, said on Monday it expects its e-commerce business to turn a profit in 2014.
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