GOME Electrical Appliances Holding Ltd is an electrical appliance retailer in China and Hong Kong founded by Wong Kwong Yu in 1987, adopting the “Gome” brand name in 1993. It listed in Hong Kong in 2004, and in 2008 police revealed that Wong was being investigated for stock manipulation. He resigned in early 2009 and was sentenced to 14 years in prison.

China's Gome first-half profit jumps 153pc as it pins hopes on online shop

Gome's same-store revenue growth jumped 15.1 per cent year on year in the first half. It had 1,073 shops in 250 mainland cities at the end of June. Photo: Reuters

Sales hit 27.1 billion yuan (HK$34.3 billion) in the period, up 10.2 per cent year on year. About 5 percentage points of that stemmed from its e-commerce business, chief financial officer Fang Wei said, emphasising that the company was focused on profitability and not sales volume.

Wednesday, 28 August, 2013, 4:47am

GOME expects interim profit on back of strong Q2

GOME expects to be back in the black soon. Photo: SCMP

GOME Electrial Appliances , backed by private equity firm Bain Capital, said on Friday profitability has significantly improved and it expects to swing into profit in the first half of the year from losses a year ago.

19 Jul 2013 - 12:16pm

Gome expects earnings to improve

Gome Electrical Appliance is opening more shops and is looking to boost internet sales through its alliance with Alibaba. Photo: Reuters

Gome Electrical Appliances expects a rebound in gross profit margin this year although its e-commerce business will remain a liability in the short term. With the company teaming up with Alibaba's consumer shopping site Tmall to boost internet sales, the second-largest home appliance retailer on the mainland is hopeful that its e-commerce business could break even by the end of the year.

11 Jun 2013 - 3:25am

No buzz for Suning, Germany's Metro

A customer looks at television sets in a branch store of retail giant Suning in Chengdu. Photo: Xinhua

Anyone thinking of getting into China's consumer electronics retailing market might want to think again, following the latest downbeat news from homegrown giant Suning and a joint venture involving Germany's Metro Group.

28 Feb 2013 - 11:20am

Best Buy and Gome: good bedfellows?

Best Buy shuttered all of its own-brand China stores two years ago. Photo: AP

There is an intriguing rumour going around that would see struggling US electronics retailing giant Best Buy purchase its equally struggling Chinese counterpart Gome

25 Feb 2013 - 1:56pm

Talking points

King's body makes final journey

King's body makes final journey

1 Feb 2013 - 3:15am

Hong Kong closures signal Gome retreat

Gome Hong Kong has struggled to make a profit in the city and will close its six shop within two months. It will focus on wholesaling in the future. Photo: David Wong

Gome Electrical Appliances' decision to close its Hong Kong operations signals a temporary halt to its overseas expansion plans, which have been losing momentum since its founder Wong Kwong-yu was jailed four years ago.

22 Jan 2013 - 4:12am

E-commerce sales seen picking up at loss-making Gome Electrical

Gome says its shops give it an edge over web vendors. Photo: Xinhua

Gome Electrical Appliances, the second-largest home appliances chain on the mainland, expects its loss-making e-commerce business to turn a profit within the next two years - after posting an interim loss of 502 million yuan (HK$614.07 million) for the six months ended June.

The Beijing-based company reported yesterday that sales fell 22 per cent to 23.1 billion yuan.

1 Sep 2012 - 3:05am

First thing China, August 17

First thing China, August 17

Diaoyu activists to return Sunday

29 Aug 2012 - 3:07pm

Gome shares plunge on joint-venture woes

Suspending plans to form a property joint venture with its jailed former chairman's other firms could not stem the selling pressure on Gome Electrical Appliances as its shares tumbled nearly 15 per cent yesterday.

4 Oct 2011 - 12:00am

Gome shares up after profit soars 66pc

Shares in Gome rose more than 8 per cent after China's second-largest home appliance retailer posted a higher-than-expected profit gain of 66 per cent in the first quarter.

The shares jumped 8.2 per cent, the most in six months, to close at HK$3.04, outperforming the Hang Seng Index, which rose 1 per cent.

28 May 2011 - 12:00am

New strategy to overtake rivals

Appliance company's president Chen Xiao says the group plans to boost its market share by 20 per cent and consolidate its leading position

21 Apr 2008 - 12:00am

Gome offers $5.2b for Paradise

Falling margins and intensifying competition trigger urge to merge in electronics retail sector

Gome Electrical Appliances Holdings, China's biggest electronics retailer, will offer $5.27 billion in shares and cash to buy out rival China Paradise Electronics Retail in a bid to ease falling margins and strengthen its position amid intensifying competition.

26 Jul 2006 - 12:00am

Band leader Gome won't be caught out when retail music stops

'The profit margin is not our main target at this moment. Most important is that we remain No1 in the market.'

Wong Kwong-yu


Gome Electrical Appliances

24 Mar 2006 - 12:00am