Posts Tagged ‘Gome’

China’s Gome To Sue Former Chairman

August 10th, 2010

Chinese electronics and home appliances retailer Gome has announced that its board of directors has decided to sue its former executive director Huang Guangyu. As part of this initiative, the company requires Huang to compensate losses caused by his irregular activities in the repurchase of shares of Gome at the beginning of 2008. According to [...]


Gome’s Affiliate Involved In Bribery

March 2nd, 2010

Beijing No. 2 Secondary Court has issued an indictment to Gome Electrical Appliance Company, a wholly-owned subsidiary of Chinese electronics retailer Gome, which has allegedly been involved in a bribery scandal.
According to the indictment, GEAC was involved in part of a bribery plan that was worth totally CNY4.56 billion between 2006 and 2008 when Huang [...]


Sanlian Group’s Lawsuit Against Gome Rejected By Shandong Court

March 31st, 2009

Sanlian Commerce, a subsidiary of the Shandong-based electronics retailer Sanlian Group, has published a report stating the Shandong Supreme People’s Court has rejected Sanlian Group’s lawsuit against Gome about the share auction of Sanlian Commerce.
On January 7, 2008, China’s CITIC Bank Jinan branch applied to sell the 27 million stakes in Sanlian Commerce owned by [...]


Chen Xiao Replaces Huang Guangyu As Gome Chairman In China

January 19th, 2009

Chinese electronics retailer Gome Electrical Appliance has published a report that Huang Guangyu has resigned his positions as director and chairman of the board of Gome, replaced by Gome’s current executive president Chen Xiao.


Sanlian Group Sues Gome Over Illegal Acquisition

January 16th, 2009

Shandong-based retailer Sanlian Group has sued several companies, including the Chinese electronics retail giant Gome, for the illegal acquisition of 27 million shares in Sanlian Group’s Sanlian Commerce subsidiary and has asked the court to announce the purchase as invalid, as well as seeking CNY50 million compensation from these companies.


Suning To Open 20 New Stores In Shanghai In 2009

January 6th, 2009

Suning’s Shanghai headquarters has announced plans to open 20 new electronics stores in Shanghai in 2009, covering 12 districts such as Minhang, Baoshan, Pudong New Area, Xuhui, Jing’an, Huangpu, and Fengxian.


Best Buy To Sell Own LCD TVs In China

December 30th, 2008

The world’s leading electronics retailer Best Buy (BBY) has started to sell its self-owned brand LCD TVs in China for the first time and those TVs are only available in Best Buy’s stores.


Gome Suspends Administrative Duties Of Huang Guangyu

December 29th, 2008

Chinese electronics retailer Gome has officially suspended the administrative duties of its chairman Huang Guangyu.


Rumor: Gome May Sell Stake To Foreign Investors

December 18th, 2008

Chinese electronics retailer Gome, whose chairman Huang Guangyu is currently under investigation for financial crimes, has started initial negotiations with foreign investors for the possibility of sales of stakes in the business.


Gome Hires Ernst & Young For Financial Audit In China

December 15th, 2008

Hoping to bolster investor and supplier confidence, Chinese electronics retail giant Gome has hired the Ernst & Young Hong Kong office as an independent external accounting division to check Gome’s financial conditions as of November 30, 2008.