Financial Comment ｜ Huang Guangyu wants to save Gome but reduces its holdings. Traditional companies always play e -commerce?

Text/Yangcheng Evening News Critics Qi Yaoqi

The major shareholders' equity form disclosed by the Hong Kong Stock Exchange on September 19 showed that Gome retail shareholders Huang Guangyu, Du Juan, Henghai Investment Co., Ltd. and Gome Management Co., Ltd. reduced their holdings of 2.737 billion shares on September 14, totaling about 531 million Hong Kong dollars. Huang Guangyu's reduction of Gome retail has triggered a chain reaction of the stock price. On the same day, Gome's retail stock price plummeted, and the market fell more than 24%. As of the close of September 19, Gome Retail reported at HK $ 0.175/share, with a total market value of HK $ 6.25 billion.

At present, various signs show that Huang Guangyu's revival plan has failed temporarily, so the outside world will interpret him to abandon Gome. Huang Guangyu, who was once the richest man in China, created a precedent for domestic appliance chain. The first half of his life can be described as a legend, and even Suning once came up with this model. Now Suning has long left Gome.

In particular, the advent of the e -commerce era has caused people's shopping thinking and behavior to fundamentally change. In the past, the people were used to buying refrigerators in the mall. Nowadays, the e -commerce platform has become a place where mainstream people buy mainstream products. Therefore, 10 years ago, Gome was defeated under the pinch of Tmall and JD.com. According to data in 2021, in the entire home appliance market, JD.com's boss accounts for more than 30%of the share. Suning occupies second with 16%, Tmall accounts for 14%, and Gome is only 5%. Not only that, even Douyin fast hands are robbing the traditional market of Gome, and it is handy.

On the evening of August 19, Huang Guangyu issued an open letter through the Gome public account, pointing out that the idea of ​​restoring Gome's status in 18 months is too optimistic, so "Gome retail will focus on the main business, shake off the burden, and light up." However, no, no, no People who are optimistic feel that the era of Huang Guangyu has gone away, and the probability of his dream realization is too low. If the huge losses continue and the stock price continues to fall, it will only make the capital market lose confidence, and the revitalization of Gome will be even harder. Moreover, this burden may be thought in itself rather than assets.

Regardless of Gome or Suning, hypermarkets have not met the needs of the market and the times for a long time. Buy an electrical appliance, as long as you place it easily on the e -commerce platform, you will deliver the goods the next day, and you will not buy it wrong without leaving home. The reason is that the home appliances are basically mature products. Compared with a round of screens, there are not many traps in the transparent price. It is really impossible to ask customer service. There is no need to explore the store. Moreover, the home appliances are so good, and no matter how large the shops are, they cannot face all classes and all representative products on the shelves. They can only choose to be popular. The limited physical space naturally does not match the infinite e -commerce platform.

However, if the deep -rooted hypermarket thinking continues into the Internet, it will even drag the hind legs. Gome also focuses on creating a true happy APP. In the face of young people, it is known as socialized shopping interest e -commerce. It focuses on entertainment shopping and live broadcast. However, it is difficult to attract young people's attention without substantial promotions. In particular, many senior executives from Internet giants Ali and Baidu resigned after a period of tossing in Gome for a while, which made people feel that the genes and culture of the enterprise determined the life cycle of the enterprise after all.

Source | Yangcheng Evening News · Yangcheng School

Editor -in -law | Shen Zhao

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