Rise of GOME Electrical Appliances Holding Ltd

1987

Gome is transformed from a clothing store to a retail chain selling electrical appliances.

2004

The group goes public on the Hong Kong Stock Exchange.

2009

Huang Guangyu resigns as president after being arrested in November 2008 on charges of bribery, illegal foreign exchange activities and insider trading.

2013

Gome buys coo8.com, a website that sells electronic appliances.

2014

The group rolls out an online-to-offline model that allows customers to buy goods on its website and pick them up from key locations.

Later in the year, Gome announces it will pay 1.9 billion yuan ($297 million) for a 5.41 percent stake in Huishang Bank. The plan fails to get approval from the China Securities Regulatory Commission.

By the end of year, the company announces it has 1,132 stores nationwide.

2015

In January, Gome moves its financial operations to Tianjin, which borders Hebei province and Beijing municipality. Total investment reaches 1.5 billion yuan. The division is managed by Huang Xiuhong, younger sister of Huang Guangyu.

In July, Gome buys 578 stores that were not included in the Hong Kong listing from another Huang company, Gome Management Ltd, for HK$11.3 billion ($1.46 billion).

(China Daily Africa Weekly 09/05/2015 page22)