news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Source: Times Investment Research

Author | Chen Che

Editor | Sun Yiming

Recently, Metro Supply Chain Co., Ltd. (hereinafter referred to as "Metro Supply Chain"), a subsidiary of domestic supermarket giant Wumart Technology Group Co., Ltd. (hereinafter referred to as "Wumart Group"), has submitted an application to the Hong Kong Stock Exchange to start the road to listing.

Times Investment Research found that in the past three years, more than 60% of Metro Supply Chain's revenue depended on Wumart Group. Last year, due to a 15% decrease in the number of Wumart Group's stores, Metro Supply Chain's performance was sluggish and its revenue has declined for three consecutive years.

In addition, at the end of 2023, Metro Supply Chain had only 527 million yuan in cash, while the bank interest repaid that year was as high as 302 million yuan, and its net current liabilities (the difference between total current liabilities and total current assets) at the end of that year was as high as 4.375 billion yuan. As of the end of April this year, its net current liabilities further expanded to 8.231 billion yuan.

Under the pressure of poor performance and huge current liabilities, Metro Supply Chain's survival dilemma has attracted considerable attention.

On August 6 and 8, Times Investment Research sent letters and made phone calls to Metro Supply Chain to inquire about issues such as revenue dependence on controlling shareholders and cash shortages. However, as of press time, the other party had not responded to the relevant questions.

Revenue continues to decline