Gome Retail repaid US dollar debts as scheduled.$ 7.8 billion
In the evening of March 10, Gome Retail (00493.HK) issued an announcement saying that the company has fully repaid the principal of the unredeemed US dollar bonds due 2020 as scheduled4.US $ 6.6 billion and related interest of US $ 11.65 million, totaling 4.$ 7.8 billion.The announcement shows that since all bonds have been repaid, the company has requested that S & P Global Ratings revoke the public rating of the company according to market norms.The Group will continue to promote the “home · life” transformation strategy, through the national channel network and user precipitation, and actively use the “Meidian” social platform and community marketing model to further promote the development of the Chinese community economy and bring betterreward.It is understood that after Gome repaid the US dollar debts, all overseas debts have been paid off.Looking back, the domestic debt and foreign debt issued by Gome have no history of interest deferred payment and default, and its internal debt has maintained AA + grade since its issuance.Gome Retail’s CFO Fang Wei said that Gome Retail adheres to the principle of “credibility by credit” in the capital market, and repaying debts in accordance with the contract is due.In addition, Fang Wei also said that sufficient cash flow, integrated online and offline business strategies, and sound corporate management have escorted Gome’s retail credit rating, “Gome will protect investors’ rights to the greatest extent.”Dongfang Jincheng International Credit Evaluation Co., Ltd. has a credit rating of AA + for Gome entities, a stable rating outlook, and a corporate bond credit rating of AA +.It is known that enterprises have strong debt repayment ability, are less affected by adverse economic environment, and have low default risk.Gome Retail’s semi-annual report for 2019 shows that as of June 30, 2019, Gome Retail has sufficient funds on its account and has approximately 101 cash and cash equivalents.RMB 0.6 billion.A person close to Gome said that during the epidemic, Gome “transformed online and social e-commerce rapidly. After the outbreak, it has a very positive and important significance for the company ‘s development.At present, Gome social e-commerce has accounted for more than 50% of the overall sales.Fang Wei believes that the essence of community marketing is actually greater than the traditional marketing of physical stores. Community marketing requires companies to meet all the needs of users in various channels, forcing companies to improve their service capabilities.”Especially during the epidemic period, the question and answer of professional knowledge, distribution and after-sales services are a great test. Gome’s large-scale logistics and after-sales service capabilities accumulated over the past three decades are sufficient to meet the needs of users and ensure the smooth progress of business activities.”” Editor Xu Chao proofreading Li Xiangling