Gome Electrical Appliances

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.

RETAILING

Gome to shut more shops to stem losses

26 Mar 2013

The Beijing-based retailer said in a filing yesterday that the net loss for the year to December was 597 million yuan (HK$746 million), compared to a net profit of 1.84 billion yuan in 2011.

3:18AM

Struggling Gome hopes the worst is now behind it

9 Feb 2013

Is the worst over for Gome Electrical Appliances? That is the question many are asking after the Beijing-based appliance retailer weathered a series of setbacks over the past month.

4:51AM

Gome pulls plug on electrical shops and 100 jobs

21 Jan 2013

Electrical appliance retailer Gome is closing its six shops in Hong Kong, throwing some 100 people out of work - starting in just 11 days on February 1.

The company announced over the...

4:59AM

Appliance retailer Gome reveals three-year plan

27 Dec 2012

Is electrical appliance retailer Gome merely following its rivals or will its new internet-driven strategy truly jolt it out of the doldrums?

1:59AM

Wong 'not liable' for investors' losses

21 Dec 2012

A court in Beijing ruled yesterday that Wong Kwong-yu, the jailed billionaire founder of Gome Electrical Appliances, did not need to pay for the losses incurred by two stock investors as a result...

3:46AM

Gome looks to e-commerce after posting loss in first nine months

20 Nov 2012

Gome Electrical Appliances, China's second-largest seller of home appliances, is betting on e-commerce to reverse declining sales after reporting a loss in the first nine months.

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Gome sees net loss widen amid slowing growth on mainland

Gome Electrical Appliances yesterday warned that the company was expected to record a net loss of up to 700 million yuan (HK$867 million) for the nine months to September.

4:19AM

Three mainland retailers probed over promotional strategies in price war

Beijing launched an investigation into a high-profile price war on electrical appliances amid complaints from consumers that they were cheated by three mainland retailers.

3:08AM

Gome sinks to all-time low after warning of losses

Shares in Gome Electrical Appliances Holdings, the mainland's second-largest home appliance retailer, plunged to an all-time low after it forecast a first-half loss due to lower sales and e-...

10:18PM

Gome warns of loss in first half

Gome Electrical Appliances, the mainland's second-largest home appliance retailer, warned of a loss for the year's first half yesterday.

10:14PM

Gome in talks for Middle East foray

Hit by declining profit at home, Beijing-based Gome Electrical Appliances Holding is quietly exploring expanding to the Middle East through a joint venture company with a Lebanese businessman....

5:22PM

Profit falls 88pc as Gome's sales slide

Gome Electrical Appliances, the mainland's second-largest home appliance retailer, saw profits slump nearly 90 per cent in the first three months of this year because of sliding sales and losses...

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