Gome

Founder of China’s Gome Loses Key Vote

Huang Guangyu, the imprisoned former chairman of Gome Electronics, has apparently lost the power struggle to maintain control over the company. From Caixin: Four proposals by Huang Guangyu, the imprisoned founder and the largest...

Huang Guangyu’s Farewell Letter

Huang Guangyu, the disgraced former chairman of Gome Electronics, has written a farewell letter as he begins his 14 years in prison, the Wall Street Journal reports: The founder of China’s second largest retailer, GOME, wrote a...

Gome Chair: Gome Doesn’t Belong to Huang

Gome Chairman Chen Xiao speaks with Caixin about Huang Guangyu, investment by Bain Capital, and more: After Huang was detained, I was appointed as acting chairman of the board. At the time, the company was facing great risks as...

China Appliance Chain Gome Sues Jailed Founder

Huang Guangyu, former Chairman of Gome Electronics and China’s richest person who is serving a 14-year prison sentence for bribery and other crimes, is now being sued by his former company. From AP: Gome Electrical...

Corruption Taints China’s Police Heroes

Wu Zhong of the Asia Times reports on the wide reach of corruption in last year’s Gome case: It was inevitable in today’s China that some corrupt officials would be exposed as the result of an investigation into a...

China Financial Cops Linked to Gome Tycoon Case

In the ongoing investigation into Gome chairman Huang Guangyu for stock price manipulation and other crimes, two investigators have been accused of accepting bribes in the case. From AP: Zheng Shaodong, director general of the...

China’s GOME Appoints New Chairman

With former GOME chairman Huang Guangyu the subject of a widening police probe, China’s top electronics retailer has appointed former chief executive Xiao Chen as its new chairman. From Reuters: Gome’s chief...

Reports: Chinese Tycoon’s Wife Detained In Probe

From AP: The wife of billionaire Chinese appliance retailer Wong Kwong-yu has been detained as police investigate Wong for possible financial offenses, according to news reports. Du Juan, who resigned in December as a member of...

Dead End for a Tycoon’s Creative Financing

From Caijing Magazine: Mysteries surround the man ranked as China’s richest for two consecutive years. Despite his fortune and fame, little is known about his path to success and how he emerged wealthier than ever from a 2006...

Mystery Of China’s Missing Tycoon

From BBC News: One week after China’s richest man was allegedly taken from his home, there is still no official explanation about the reason for his detention either from the authorities or from the companies he controls....

Corruption Charges for China’s Richest Man

Huang Guangyu, China’s richest man, and the chairman of household appliance giant Gome has been detained in connection with alleged stock manipulation of company owned by his brother, according to Chinese state media....

China’s top electronics retail chain buying rival – Daisy Ku and Fang Yan

From Reuters: Top Chinese electronics retailer Gome Electrical Appliances Holding Ltd. plans to take over a smaller competitor for roughly US$630 million, as the arch-rivals team up to fend off the likes of U.S.-based Best Buy Inc. . Gome, which like its rivals has been expanding at a breakneck clip to achieve scale while sacrificing […]

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