GOME Electrical Appliances
{{Use dmy dates|date=September 2019}}
{{Infobox company
| name = GOME Retail Holdings Ltd.
| logo =
| type = Joint Stock. Private
| genre =
| foundation = 1987
| founder = Huang Guangyu
| location_city = Hong Kong
| location_country = People's Republic of China
| origins =
| key_people = Da Zhong Zhang (Chairman)
Jun Zhou Wang (CEO)
| area_served = {{nowrap|People's Republic of China
Hong Kong}}
| industry = Electrical appliance retailing
| products = electrical goods
consumer electronics
| services =56
| revenue = {{decrease}} HKD 67.449 billion (2019)
US$8.662 billion{{cite web |url=http://www.wsj.com/market-data/quotes/GMELF/financials/annual/income-statement |title=GMELF | GOME Retail Holdings LTD. Annual Income Statement - WSJ |website=www.wsj.com |access-date=25 December 2020}}
| operating_income =
| net_income = {{increase}} HKD {{color|red|−2.937}} billion (2019)
| assets = {{increase}} HKD 80.396 billion (2019){{cite web |url=http://www.wsj.com/market-data/quotes/GMELF/financials/annual/balance-sheet |title=GMELF | GOME Retail Holdings LTD. Annual Balance Sheet - WSJ |website=www.wsj.com |access-date=25 December 2020}}
| equity = {{decrease}} HKD 12.976 billion (2019)
| num_employees = 34,001 (2019)
| parent =
| divisions =
| subsid =
| owner =
| company_slogan =
| homepage = [http://www.gome.com.hk http://www.gome.com.hk]
}}
GOME Electrical Appliances Holding Limited (国美电器 in Chinese)({{hkex|493}}) changed its name to GOME Retail Holdings Ltd.. It is one of the largest privately owned electrical appliance retailers in mainland China and Hong Kong. It was founded by Wong Kwong Yu (Huang Guangyu), a Chinese businessman, in Beijing in 1987. Its brand name "GOME" was first adopted in 1993. Since 1999, it has developed outside Beijing and established retail outlets in other Chinese cities. It was listed on the Hong Kong Stock Exchange in 2004.{{Cite web |url=http://www.gome.com.hk/eng/index.asp |title=GOME Electrical Appliances Holding Limited |access-date=7 July 2008 |archive-url=https://web.archive.org/web/20080706155757/http://www.gome.com.hk/eng/index.asp |archive-date=6 July 2008 |url-status=dead }}[http://wrightreports.ecnext.com/coms2/reportdesc_COMPANY_C344G3420 GOME Electrical Appliances Holding Limited – Company Profile Snapshot] As of 2008 Wong was the chairperson, the controlling shareholder, and the director. The company is incorporated in Bermuda.
History
As of 2010 there were a total of 826 stores, 572 traditional stores, 13 digital stores and 2 flagship stores throughout mainland China.
In November 2008 the Hong Kong Stock Exchange indefinitely halted trading of the company shares after police revealed that Wong was under investigation for stock manipulation."[http://www.cnn.com/2008/BUSINESS/11/24/china.probe/index.html China's richest man 'under investigation']." CNN. Retrieved 24 November 2008. He resigned from company chairman on 16 January 2009.[http://www.hkexnews.hk/listedco/listconews/sehk/20090118/LTN20090118003.pdf RESIGNATION OF DIRECTOR, APPOINTMENT OF CHAIRMAN, REAPPOINTMENT OF EXECUTIVE DIRECTOR AND APPOINTMENT OF NOMINATION COMMITTEE MEMBER AND REMUNERATION COMMITTEE MEMBER]
In November 2010, the company reported third quarter 2010 net profit of 477.5 million yuan, an increase of 24 per cent from the same period in 2009, despite a public dispute between founder Wong and chairman Chen Xiao over business strategy.http://www.thestandard.com.hk/news_detail.asp?we_cat=2&art_id=104976&sid=30308556&con_type=1&d_str=20101116&fc=2 {{Bare URL inline|date=August 2024}}
In January 2013, it was announced that Gome badged retail stores in Hong Kong would begin to close from March 2013, the six stores concerned were owned directly by Wong and not the listed company.{{cite news |last1=Peter |first1=Dorris, M |title=appliance repair newmarket |url=https://fix4u.ca/newmarket-professional-home-services/ |access-date=12 November 2022}}{{Citation
| last =Sun
| first =Celine
| title =Hong Kong closures signal Gome retreat
| newspaper =South China Morning Post
| date =22 January 2013
| url =http://www.scmp.com/business/companies/article/1133372/hong-kong-closures-signal-gome-retreat
| accessdate =22 January 2013 }} The move marks a shift in emphasis for the company from one based on overseas expansion to one based on an increasing presence online and in second tier Chinese cities, although the company will remain in Hong Kong as a wholesaler.
References
{{reflist}}
External links
{{Portal|China|Companies}}
{{Commons category|GOME Electrical Appliances}}
- [http://www.gome.com.cn/ GOME Electrical Appliances Holding Limited (China)] {{in lang|zh}}
- [http://www.gome.com.hk/ GOME Electrical Appliances Holding Limited (Hong Kong)]
{{Bain Capital}}
Category:Privately held companies of China
Category:Retail companies established in 1987
Category:Companies based in Beijing
Category:Companies listed on the Hong Kong Stock Exchange
Category:Consumer electronics retailers of China
Category:Whitegoods retailers of China
Category:Bain Capital companies
Category:Retail companies of Hong Kong