Tag: Gome Retail Holdings Limited

– Take Multiple Measures to Optimize Business Strategies and New Business Models Have Achieved Iinitial Results

Gome Retail Holdings Limited (HKG: 493, Gome Retail or the Company, together with its subsidiaries, the Group) announced its unaudited six-month results for the six months ended June 30, 2024 (the Reporting Period).

Focusing on the main industry to consolidate the border, take multiple measures to actively resolve the debt problem

In the first half of 2024, the domestic economy was affected by the severe and complex international environment and cyclical adjustments of domestic policies, and recovery was still slow. From an industry perspective, real estate market declined significantly, and the income growth of local governments and households slowed down. The home appliance industry has been affected by these factors, and the retail sales growth of all types of home appliances has slowed to varying degrees in the first half of the year. In the first half of 2024, the Group recorded revenue of approximately RMB169 million; and loss attributable to owners of the parent was approximately RMB4,432 million.

In the first half of 2024, the Group continued to focus on its core retail business, activate the  “Home‧Living” omni-retail ecosystem, actively and extensively explore a variety of procurement  channels and methods, and focus on the retail of home appliances, consumer electronic products,  groceries and various types of daily necessities. It also promoted offline upgrades and strengthened  new operating methods such as online live streaming. In addition, it accelerated the development of franchising business and the GOME Automobile Experience Hall commenced its operation, creating new growth opportunities. In respect of dealing with its debt issues, the Group has continued to divest from serious lossmaking businesses and non-core assets. Furthermore, it also disposed some of its long-term assets to settle debts, and actively negotiated with creditors for debt settlements.

Reshape the retail business, promote single store franchises, and continue to optimize and upgrade new model business strategies

Gome’s new retail model business strategy continues to be optimized and upgraded. On the one hand, Gome uses live broadcast as the fulcrum to promote the focus on its main business, tap new increments through short videos, live broadcast and other marketing models, and consolidate online business; on the other hand, the Company actively promotes single-store franchises As the core asset-light joint venture and cooperation model, we get rid of “heavy assetoperation” and open up “single store franchise” with the “light asset”, “heavy operation” and “strong management” operating model. The Company fully opens brand authorization to franchisees, focuses on supply chain model innovation, and shifts from electrical appliance franchises to all-industry franchises, quickly forming a franchise network of different models and different formats. Based on maintaining the original franchise equity cooperation, single stores are encouraged to join similar franchise equity form of cooperation.

During the reporting period, the single-store franchise joint venture cooperation model has entered the substantive operation stage and achieved rapid development, attracting the attention of many investors. At present, dozens of companies have signed contracts, and nearly a hundred companies are in the process of signing contracts.

Actively exploring new business growth curves, the GOME Automobile Experience Hallhas received enthusiastic response from the market

Gome Retail focuses on the experience of its main business, at the same time, actively thinks about changes and strives for progress, explores new growth models, and builds offline automoblie experiencehall. Gome Automobile Experience Hall is OMO’s one-stop car selection, car purchase, and car use platform with product closed-loop empowerment capabilities. It uses a solid store expansion model to empower the automoblie  product market and solve the problem of individual car dealers’ purchase difficulties and expensive purchases. Meanwhile, it also ensures that consumers in various regional markets can buy new car products with clear channels, low prices and transparency, bringing consumers a new car buying experience. With its unique business model and enabling support including vehicle source channels, logistics and warehousing, Gome Automobile Experience Hall has received cooperation intentions from many well-known domestic and overseas automobile brands. During the Reporting Period, the Gome Automobile Experience Hall has started substantial operations and has received good market feedback.

Looking ahead, the government emphasized the active expansion of domestic demand, further clarified the comprehensive relaxation of real estate controls, and emphasized that “the focus of economic policies will shift more to benefiting people’s livelihood and promoting consumption.” It is believed that more positive policies will be introduced in the second half of this year to support the economy. With a steady recovery, the industry environment is expected to improve.

Gome Retail management said: “In the future, the retail industry will face more new opportunities and challenges, Gome has never forgotten its original intention of serving the people’s better life and its responsibility as a listed company. The Company’s management will still work hard, lean management, integrate resources and business collaboration, and create direct operational contributions; at the same time, we also look forward to continuing to work with more partners to empower each other and jointly help the retail industry to upgrade and iterate, to satisfy Chinese families’ pursuit of a better life.”

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About GOME RETAIL HOLDINGS LIMITED
GOME RETAIL HOLDINGS LIMITED was listed on the Hong Kong Stock Exchange in July 2004 (HKG: 493). Founded in 1987 in China, GOME is committed to building China’s leading technology-based, experiential, entertainment-oriented and socialized home-life technology retailer. With the strategy of “Home Living”, Gome Group focuses on retailing of electrical appliances and consumer electronics products, and builds a closed-loop ecosystem for the entire product line.

Please visit our website for more information: www.gome.com.hk

Issued by EVER BLOOM (HK) COMMUNICATIONS CONSULTANTS GROUP LIMITED for and on behalf of GOME Retail Holdings Limited. For further information, please contact:

EVER BLOOM (HK) COMMUNICATIONS CONSULTANTS GROUP LIMITED
Ms Wu Xiaoyue / Ms Isla Gu
Tel:(852) 3468 8874  Fax:(852) 2111 1103
Mail:xiaoyue.wu@everbloom.com.cn/jin.gu@everbloom.com.cn

Live Streaming & Class Franchise Facilitates in Optimizing Transformation
Actively Expands New Business to Build a Brand-New Gome Ecosystem

Gome Retail Holdings Limited (HKG: 493. Gome Retail or the Company), together with its subsidiaries, the Group) announced its audited annual results during the twelve months ended December 31, 2023 (the reporting period).

Streamlining Transformation Focuses on Main Business, Multiple Measures to Resolve Debt
In 2023, the global economy remained in a trough, and the external geopolitical environment remained unstable. At the same time, the domestic economy faced both cyclical and structural adjustments, and the recovery of domestic demand was slow. In terms of industries, real estate and other related upstream industries have not yet emerged from the trough, the overall recovery in retail was not as expected, and the demand for the home appliance industry also decreased. In 2023, the Group recorded revenue of approximately RMB647 million; and loss attributable to owners of the parent of approximately RMB10,057 million.

In 2023, under the macroeconomics and the slow recovery of the industry, GOME Retail continued to implement streamlining transformation, officially launched the class franchise cooperative joint venture model, to achieve low-cost and high-efficiency business expansion to the greatest extent, while focusing on the main business of home appliance retail, and continued to provide high-quality home appliance and consumer electronics retail services in a vertical mode. In addition, in the past year, GOME Retail actively resolved issues with creditors, successfully reached an agreement in December 2023, successfully introduced JD.com, Inc. as the investor, and also provided a successful reference for other debt resolutions.

Live Streaming & Class Franchise Facilitate Corporate Optimization, Continued Operational Enhancement
GOME Retail Holdings Limited has been actively optimizing the business model to facilitate successful transformation. The company has focused on initiatives such as live streaming, short videos, and class franchise business models,investing more resources and effort and enhancing quality. Notably, GOME has continued to strengthen its own GOME APP platform while also exploring and integrating with external platforms like Douyin, Kuaishou, and WeChat short videos. In July 2023, GOME officially joined the Kuaishou Life Service platform, becoming the first large-scale 3C (Consumer Electronics, Computers, and Communication) home appliance chain brand to do so. Additionally, GOME has collaborated extensively with MCN companies and internet influencers (KOLs) to increase its influence and attract more businesses and users, accumulating rich experience in user engagement and scene creation.

The formal launch of the class franchise business model has strengthened GOME’s operational capabilities and facilitated corporate optimization and transformation. By leveraging brand empowerment and other strategies, GOME collaborates with franchisees to jointly establish companies. This collaboration spans open commercial platforms, brand resources, and supply chains, fostering mutual growth. Since launching the class franchise business model in May 2023, GOME Retail has rapidly expanded discussions and cooperation nationwide. In cities such as Shenyang, Jilin, Harbin, Dalian, and Tianjin, the model has already entered substantial operational phases, and achieved rapid development with booming sales. Leveraging both Douyin’s “Craftsman” +“Influencer” channels, the class-franchise company’s performance exceeded expectations. Meanwhile, the class-franchise company’s in cities like Shanghai, Xi’an, Chengdu, and Chongqing have strengthened their market presence by promotion and live streaming on external platforms such as Douyin, Kuaishou, and WeChat Short Video. These efforts contribute to GOME’s transformation and upgrade in the retail landscape.

Proactively exploring new build a new Gome ecosystem
During the reporting period, while focusing on its main business, the Group also actively expanded into three new businesses: vehicle showroom, unmanned retail and overseas home appliances. These new businesses maintain independence from the original electrical appliances business, constructing a new GOME ecosystem. The vehicle showroom includes three existing systems of GOME, building two major digital systems, fully penetrating the upstream and downstream, and achieving rapid payment, delivery, and landing of vehicles nationwide. At present, unmanned retail is gradually developing towards scale, and its rapid market development will bring new business opportunities to GOME Retail and provide an important supplement to the GOME retail ecosystem. In addition, GOME is considering pushing home appliance products to the overseas market, seizing the new opportunities brought by the “Belt and Road” initiative, using the resources and advantages of the retail platform, expanding the high-quality supply chain to emerging markets, and helping domestic high-quality goods reach the global market, creating new growth opportunities.

Looking ahead, the internal environment is gradually improving, the real estate industry is stabilizing step by step, and the implementation of national policies should be more proactive than last year. At the recently concluded “two sessions”, it was once again emphasized to increase macro-control efforts, and it was proposed to “Encourage and promote consumer goods trade-in programs and boost spending on intelligent connected new energy vehicles, electronic products, and other big-ticket items”. It is believed that the development of the industry in the new year will meet more benefits with the support of national policies.

Gome Retail management said: “In the future, the retail industry will face more new opportunities and challenges. GOME has never forgotten the original intention to serve the people’s better life and its responsibility as a listed company. The company’s management will still strive actively, carry out structural reforms, actively resolve debts by dividing the electrical business and establishing a new management system. In terms of strategy, it will accelerate the development of innovative formats such as home decoration, vehicle experience halls, and leasing businesses, and focus on the layout and expansion of unmanned retail. In addition, GOME will promote the integration of unmanned retail with existing business sectors, jointly develop three warehouses in urban areas, improve logistics efficiency and consumer experience, and meet the pursuit of a better life for Chinese families.”

About GOME RETAIL HOLDINGS LIMIT
GOME RETAIL HOLDINGS LIMITED was listed on the Hong Kong Stock Exchange in July 2004 (HKG: 493). Founded in 1987 in China, GOME is committed to building China’s leading technology-based, experiential, entertainment-oriented and socialized home-life technology retailer. With the strategy of “Home-Life”, Gome Group focuses on retailing of electrical appliances and consumer electronics products, and builds a closed-loop ecosystem for the entire product line.

Please visit our website for more information www.gome.com.hk

• Focused on the core business and creating a new profit model
• Technology empowered business transformation

GOME Retail Holdings Limited (HKG: 493,  GOME or the Company, and together with its subsidiaries, the Group)announced its unaudited interim results during the six months ended 30 June 2022 (the Reporting Period).

The consolidated gross profit margin and operating cash flow improved significantly, and construction of the full retail ecological sharing platform has been completed

In 1H 2022, GOME continues to promote the implementation of the “Home . Living” Strategy, and based on the development philosophy from the platform perspective, users’ perspective, and technology perspective, the Company created a “full retail ecosystem sharing platform” by establishing and integrating its six business platforms, namely “online platform, offline platform, supply chain platform, logistics platform, big data & cloud platform and sharing and joint development platform”. The Group further promoted the grid-based model of “Home Living and Home Services” by implementing the core business strategies of entertainment-oriented marketing, low price, quality service, and technology, striving to meet the all-around consumption and service needs of family users.

In the first half of the year, there are various lockdown and control measures in most regions affected by the recurring outbreaks of the pandemic in China, the momentum of economic recovery slowed down, and offline entities were disrupted significantly. And online business was also hit hard since the outbreak of the pandemic because of the disruption to the logistics service. However, with the gradual introduction of the national stimulus package, such as the stimulus to automobile consumption in June, or in July 13 departments including the Ministry of Commerce issued the “Several Measures on Promoting Green and Smart Appliance Consumption” to comprehensively promote the domestic green and smart household appliance consumption, would greatly benefiting the company’s business recovery and significant growth in future. In 1H of 2022, the sales revenue of the Group was approximately RMB12,109 million, and the consolidated gross profit margin was approximately 19.81%, increasing substantially by 5.56 percentage points as compared to the corresponding period last year. The Group’s operating expenses were approximately RMB4,839 million, which decreased by 3.10% as compared to the corresponding period last year. The Group’s loss attributable to the owners of the parent was approximately RMB2,966 million. During the Reporting Period, the Group’s cash flows generated from operating activities had significant improvement over the corresponding period last year, achieving a positive net inflow of RMB55 million.

Focusing on the main business with a vertical model, reduce the burden in the second half year
The field of household appliances is the traditional strength of GOME Retail, the Group’s strategic focus in the coming period will focus on the main business with the vertical model. GOME will focus on retail sales of household appliances and consumer electronic products, based on the Company’s years of experience in the retail field, relying on a large number of offline stores throughout the country and its existing supply chain and after-sales and other infrastructure, to form five main profit models: exhibition (offline boutique experience), marketing (online and offline omni-channel self-management + sharing supply chain), integrated solutions for home electronics products, extension products for wide scope home appliances and value-added services (delivery, after-sales, extended warranty, paid membership operation, etc.), in which the separation of exhibition and sales and adding the new offline display service charging model would benefit our revenue structure optimized. The effect of the transformation has been shown in the 1H 2022, the Group’s consolidated gross profit was RMB2.4 billion, and the consolidated gross profit margin was approximately 19.81%, increased by 5.5 percentage points as compared to the corresponding period last year.

By closing inefficient stores and expanding franchised stores, GOME will comprehensively optimize the store network layout, strengthening the cost reduction in the second half of the year. Maintaining the coverage of offline stores, the number of offline stores was reduced by 370, and the Company plans to close 30%-35% of inefficient businesses’ self-operated stores in the future. Unrelated or loss-making businesses will be spun off, sold, or discontinued, and investment in expensive businesses will be gradually reduced. And since Q2, GOME has optimized personnel allocation, improved employees’ quality and professionalism, and effective control the Company’s salary costs.

Offline stores optimized and upgraded, and the new model helps regain market share
The Group will build an all-scenario and omni-channel provider of O2O appliances and consumer electronics retail by strengthening technology empowerment and comprehensively improving the operation quality of stores. While retaining 700 high-quality and efficient self-operated stores, the Group plans to add 100 superior city pavilions to optimize the grid-based model and improve the existing sales per unit area; with Gome’s high-quality management model and supply chain, the Company will rapidly expand its network layout to cover the first to sixth tier cities nationwide with grid-based coverage to quickly regain its original market advantage.

In addition, since July, stores in Chongqing, Wuhan, and other cities have begun to implement the new mode of operation. The new model stores will implement a separate exhibition and sales model to meet consumers’ needs for a better product experience in reality. The new model stores focus on four dimensions: function, category, scenario, and sales per employee to provide customers with a more complete service experience. In terms of function, large stores and small stores focus on differentiation and further refinement of product categories; in terms of category, the Company focuses on high-end products and offline scenes of rigid demand to provide consumers with a more intuitive product experience; in terms of scenery, systematically planned store lines and more interactive demos display are used for specific products. Through single-brand multi-dimensional reuse enhancement, further improving efficiency and the sales model, will help to significantly improve sales per employee. The new model is expected to improve the sales per unit area and sales per employee of the stores by more than 40%.

Comprehensive upgrade of supply chain model, empower quality products
To enhance the selection and sales capacity of quality products, upgrading the supply chain model is an indispensable part. In the self-sourcing & underwriting custom model, based on the traditional supply chain, the Company will further increase the proportion of underwriting customization to achieve product differentiation and enhance the profitability of the supply chain. Further, the Company will deepen cooperation with suppliers, implement differentiation strategies, and more precise brand positioning; strengthen in-depth cooperation with head brands and enrich waist brands to empower the selection and sales of quality products and improve inventory turnover, which will be conducive to subsequent business development.

Optimize asset structure, promote enterprise structure transformation and management upgrade
To increase the amount of tangible assets held by GOME, the Company acquired the property rights of two properties at a significant discount, GOME Commercial Capital and No. 9 Xiangjiang, which will be built as offline shopping and experience centers. The acquisitions will significantly improve the Company’s asset adequacy ratio, enhance the confidence of financial institutions in supporting the Company’s business, facilitate the Company’s future refinancing and improve its core competitiveness.

Moreover, to further professionally improve the profitability of the full-service closed loop of pre-sale, mid-sale, and after-sale and value-added services, the Company plans to acquire from the Controlling Shareholder part of the equity interest of Anxun Logistics at a substantially preferential price. Anxun Logistics has a competitive advantage in the field of large warehousing and distribution, which is a scarce advantageous asset in the market. Anxun Logistics’ third-party business accounts for over 48% of its revenue and has good profitability and solid cash flow. It is expected to maintain an average growth rate of 20%-40% in the next five years and a net profit growth rate of over 40%. After the acquisition, it will become a new profit growth point for the Company.

Strengthen technology empowerment and strategic cooperation, Actively take social responsibility
In the first half of 2022, the Company entered into strategic cooperation with Huawei, Tencent, and Alibaba Cloud respectively, focusing on digitalization and big data/cloud for deep technology empowerment. The cooperation with Huawei focused on the digital enhancements of retail business. The strategic cooperation between the Company and Tencent covered big data & cloud, internet technologies, advertising and marketing, and smart stores. Reaching the strategic cooperation with Alibaba Cloud, the two parties will cooperate in the retail business, supply chain, marketing, operations, etc. By strategic cooperation with the top domestic Internet companies, and consolidating the resources and strengths of partners, technology empowers the actual business operation, will expedite the digital and intelligent transformation of approximately 4,000 stores of the Group in China, help to increase the overall scale of the Group, enable the Group to achieve low-cost traffic and precise marketing, enhance consumers’ online and offline cross-scenario experience.

During the Reporting Period, affected by the outbreaks of the pandemic, the Company is facing an uncertain external business environment. Nevertheless, the Group has always shouldered its social responsibilities by carrying out grid-based business management through its online platform “FUN” APP and offline network of approximately 4,000 GOME stores and developed the role of backbone enterprises internal and external. Internally, the Group strived to protect over 50,000 employees in 776 cities by implementing effective prevention and control measures. Externally, the Group was committed to securing stable supply and prices at all outlets and online platforms during the pandemic, ensuring healthcare products and daily necessities at normal prices. The Group took the initiative to maintain adequate supply and boost consumption during the pandemic by offering to deploy sufficient supplies to regions severely affected.

Regarding outlook and prospects, the GOME management team said: “In the future, the Company will efficiently use the omni-retail ecological sharing platform, focus the vertical model on the main business and improve operational efficiency as the main strategic target in the next period, reorganizing the business segments and optimizing the asset structure, in order to cope with the impact of unfavorable market factors such as the pandemic, improve the profitability of the Company; using technological means to help the digital transformation of enterprises and improve consumer service experience. We will promote strategic focus in the existing development process, quickly realize the Company’s operational elements, continue to improve operational efficiency, and enhance profitability. At the same time, strengthen interaction with external strategic partners, carry out more in-depth cooperation, and continue to empower each other in terms of goods, services, traffic, and technology, which is expected to achieve better profitability in 2023, reach the best level in history in 2024, and exceed the best level significantly in 2025.”

About GOME RETAIL HOLDINGS LIMITED
GOME RETAIL HOLDINGS LIMITED was listed on the Hong Kong Stock Exchange in July 2004 (HKG: 493). Founded in 1987 in China, GOME is a leading technology-driven, experience-based, entertainment-oriented, and socialized “Home . Living” technology retail service provider in China. Under the strategy of “Home . Living”, GOME strengthens its technology empowerment and focuses on the retail of home appliances and consumer electronic products as its main business. Moreover, five main profit models have been formed: exhibition (offline boutique experience), marketing (online and offline omni-channel self-management + sharing supply chain), integrated solutions for home electronics products, extension products for a wide scope of home appliances, and value-added services (delivery, after-sales, extended warranty, paid membership operation, etc.).
Please visit our website for more information: www.gome.com.hk

GOME Retail Holdings Limited (HKG: 493, GOME or the Company, and together with its subsidiaries, the Group) announced the Possible Very Substantial Acquisition and Connected Transaction on 19th, August 2022. The Company conditionally agreed to acquire the entire equity interests in Eagle Delight Properties (Overseas) Limited, aiming to inject high-quality assets at low prices and optimize the asset structure, increasing the level of return to shareholders of the Company. An application has been made by the Company to the Stock Exchange for trading in the Shares to resume from 9:00 a.m. on 22, August 2022.

Affected by the internal and external macro environment, the capital market and the industry face uncertain risks. GOME prudently assesses the market situation, with the objective of improving future operational efficiency, the Company plans to reorganize its business segments and optimize its asset structure, use technological means to facilitate the digital transformation of the enterprise and improve the consumer service experience throughout the process, ultimately improve the profitability of the Group.

Focusing on the core business, Creating a new profit model
Household appliances segment is a traditional area of strength of GOME. In this business segment adjustment, the Company will focus on its core business, with the vertical model that concentrates on retail sales of household appliances and consumer electronic products as its main business. After the adjustment, based on the Company’s years of experience in the retail field, relying on a large number of offline stores throughout the country and its existing supply chain and after-sales and other infrastructure, the Company has formed five main profit models: exhibition (offline boutique experience), marketing (online and offline omni-channel self-management + sharing supply chain), integrated solutions for home electronics products, extension products for wide scope home appliances and value-added services (delivery, after-sales, extended warranty, paid membership operation, etc.).

Meanwhile, the Company will build an all-scenario and omni-channel provider of O2O appliances and consumer electronics retail by strengthening technology empowerment, comprehensively improving the operation quality of stores and optimizing the store network layout across the nation by closing down inefficient stores, opening new big and premium stores and expanding franchised stores.

For other unrelated or loss-making businesses, the Company’s measures are to spin off, sell or discontinue, and gradually reduce investment in more expensive businesses such as GOME Fun, so as to relieve the Company’s pressure and focus on developing the core businesses.

Optimize Asset Structure, Promote Enterprise Structure Transformation and Management Upgrade
To increase the amount of tangible assets held by the Company, the Company considered, on the premise of not diluting the equity of minority shareholders and not increasing the cash flow pressure of the Company, to acquire the entire equity interests of Eagle Delight Properties (Overseas) Limited at a substantially preferential price from the Controlling Shareholder. The main assets are GOME Commercial Capital and No. 9 Xiangjiang, the two property rights. The acquisition will significantly optimize the Company’s asset adequacy ratio, enhance the confidence of financial institutions in supporting the Company’s business, facilitate the Company’s future refinancing, and promote the establishment of the Company’s offline city display and experience center to enhance its core competitiveness.

In addition, in order to match the next development strategy of GOME, and to further professionally improve the profitability of the full-service closed loop of pre-sale, mid-sale and after-sale and value-added services, Anxun Logistics Co., Ltd (“Anxun Logistics”) is an indispensable part. Anxun Logistics has a competitive advantage in large warehousing and distribution, which is a scarce advantageous asset in the market. The Company will consider acquiring from the Controlling Shareholder part of the equity interest of Anxun Logistics at a substantially preferential price at an appropriate time, thereby achieving the goal of the Company obtaining a controlling interest in Anxun Logistics and improving the retail infrastructure.

In order to ensure the implementation of its business and organized strategies, GOME is also promoting enterprise structure transformation and management upgrades. The Company will:
1. Procure the management team to achieve better performance and higher profitability in 2023; and 2. optimize the management structure, improve the quality and professional level of personnel, optimize staff structure and downsize staff, significantly enhance staff efficiency, close loss-making stores, reduce rents through soliciting tenants and surrendering of the lease, select locations to open new urban stores and large stores, thereby significantly improving the area efficiency; rapidly expand its network through the branding operation and management model and the output capability of the commodity supply chain, and develop a self-operated + franchise model to cover the first-tier to sixth-tier cities across the country on the basis of gridization, so as to quickly restore its original market advantage and achieve the best performance level. Driven by the new model, the separation model of exhibition and sales can be implemented in an effective way to improve gross profit margin and positive cash flow and achieve zero inventory.

About GOME RETAIL HOLDINGS LIMITED
GOME RETAIL HOLDINGS LIMITED was listed on the Hong Kong Stock Exchange in July 2004 (HKG: 493). Founded in 1987 in China, GOME is a leading technology-driven, experience-based, entertainment-oriented and socialized “Home . Living” technology retail service provider in China. Under the strategy of “Home.Living”, GOME strengthens its technology empowerment and focuses on the retail of home appliances and consumer electronic products as its main business. Moreover, five main profit models have been formed: exhibition (offline boutique experience), marketing (online and offline omni-channel self-management + sharing supply chain), integrated solutions for home electronics products, extension products for wide scope of home appliances and value-added services (delivery, after-sales, extended warranty, paid membership operation, etc.).

For more information, please visit the official website at: www.gome.com.hk