GOME achieved strong earnings growth with business scale and quality upgrade in 2021

GOME Retail Holdings Limited (HKEX stock code: 493) announced today its audited annual results for the twelve months ended 31 December 2021.

Closely following national policies to promote the strategic transformation of business and comprehensively implement the second phase of the “Home . Living” strategy

In early 2021, GOME officially launched the second phase of its “Home . Living” strategy, strengthened entertainment and social interaction, with six platforms complementing each other to create a closed-loop omni-retail ecosystem. In October 2021, GOME completed the construction of infrastructure for omni-retail ecological sharing platform covering “omni-scenario, omni-chain, omni-service and omni-mode”, thereby starting a new development phase at full speed. Relying on the establishment of six major platforms and other infrastructures, GOME has developed a strategic path and layout from a single electrical appliance chain to full-category operation covering the “Home . Living” sector, built a digital and physical economy platform that integrates online and offline operations, and become a model enterprise for promoting the transformation and upgrading to a digital economy in China. To carry out in-depth development in the “Home . Living” sector, GOME established three major core capabilities and competitive barriers. Firstly, it has initially built a grid-based and digital economic entity with nationwide coverage which is constantly expanding and booming. Secondly, it has created an integrated model of scenario-based and household-based consumption, and transformed traditional consumers into consumption-oriented merchants through new models such as entertainment marketing, sharing and joint development, thereby building a closed-loop omni-retail ecosystem. Thirdly, the scope of services has been fully extended to the home scenario, forming an integrated service platform with both online and offline operations as well as supply chain capabilities, integration capabilities and service capabilities.

Against the backdrop of creating a new development dynamic of “Dual Circulation”, the national economy has transformed into high-quality development. On one hand, policies will be introduced to revitalize the supply side, emphasize technological innovation and promote industrial upgrading; on the other hand, policies also need to be introduced to promote the upgrade of consumption to match the industrial upgrade. The recovery of consumption will become the main driving force to support long-term economic growth in the future, and is also the foundation for the country to achieve long-term stable growth. GOME closely followed the national strategy and policy direction, actively promoted and realized the successful transformation of its strategy, and achieved leap-forward development of its business. During the Reporting Period, GOME’s sales revenue was approximately RMB46,484 million, increased by 5.4% year on year (“yoy”). The consolidated gross profit margin was approximately 14.4%, increased by 2.2 percentage points yoy. During the Reporting Period, positive annual inflow has been recorded. The loss attributable to owners of the parent during the Reporting Period was approximately RMB 4,400 million, decreased by 37.1 % yoy.

During the Reporting Period, GOME’s gross merchandise volume (“GMV”) grew by 30.4% yoy to approximately RMB14,687 million. Relying on the entertainment and social “FUN” App, the main trading platform was formed and recorded an annual visits of 440 million, representing an increase of 196% yoy. The number of annual active buyers was 16.84 million, representing an increase of 433% yoy while the number of full category SKUs reached 2 million, of which home appliances SKUs were over 0.1 million. The number of merchants on platform reached 6,081, representing an increase of 728% yoy. Together with the number of members grew by 19% yoy to 250 million, all is showing a good development trend in both the number of consumers and the ecosystem of business partners.

In 2021, GOME continued to stick to its vision of “Better home and lifestyle through GOME” and pursued the mission to meet Chinese family’ demand for beautiful life in new era. It focused on the retail industry and household service industry, made every effort to build an “omni-retail ecological sharing platform” integrated with “online, offline, supply chain, logistics, big data/cloud, sharing and joint development”, and fully implemented the second phase of the “Home . Living” strategy, which laid a foundation and opened a new prospect for GOME to comprehensively upgrade and achieve high quality development. Leveraging on its extensive retail gene, considering the economic and social functions of retail, and with the mission to promote the retail industry to reduce costs, improve efficiency and increase value, GOME is now rapidly developing into an “integrated & centralized”, “interconnected” and “sharing and jointly developed” omni-retail ecological sharing platform. Currently, the core model and key modules of omni-retail have been constructed, which will increasingly strengthen the synergy effects and achieve more results.

Services extended from stores while online and offline are interacted
GOME developed an omni-scenario new retail ecology with the integration of online and offline platforms, in which online and offline platforms have their own emphases and are interconnected. Under the omni-retail model, GOME achieved the true O2O integration development through comprehensively activating urban physical commerce, which is an advanced retail solution for the integration of the digital economy and the physical economy and makes GOME to become a standard-setter for offline platforms.

Through precise positioning and one year of promotion, GOME’s existing stores have been gradually upgraded from home appliance stores to new types of stores for display and experience. The offline platform – “GOME Home” has been transformed into a platform covering core functions such as display and experience, home extension, home entertainment and home living services, highlighting the core value of people, product and place. GOME focused on taking advantages of its professional stores to display high-quality products and highlight local lifestyle services, and made a grid-based national layout to continuously optimize the standard for “genuine products provided by selected merchants” and accumulate quality users. In addition, GOME outlets of new model (including “GOME Home”) has 35 contracted projects and 70 projects to be contracted, with a management area of approximately 1 million square meters. Among which, the number of the signed new model stores accounted for 95% of the total. GOME Home’s benchmark showrooms will also be completed for construction and operated in 2022.

The online platform – “FUN” APP focused on the advantages of displays of full range of products and full service response, and drove online and offline sales through rapid growth in visitor traffic and live streaming with brands, creating a new chapter for the retail industry. During the Reporting Period, the average monthly active users (MAU) of the “FUN” APP reached approximately 42.44 million, with conversion rate of 3.8%, representing an increase of 1.7 percentage points yoy. With the continuous deepening integration and interconnection of the six platforms managed by GOME, it is expected that the “FUN” platform will achieve significant development in 2022. Leverage over 5,000 selected stores and over 100,000 genuine products are expected to be newly added, coupled with the online video shopping guide model realized a 40% conversion rate, the significant growth of omni channel GMV is expected to achieve in 2022, these should enable GOME to comprehensively expand in the new retail era.

Creating a super supply chain for “household consumption” covering all categories based on the “Home . Living” strategy and the characteristics of household consumption

As a Company with deep rooted retail gene, GOME has been deeply involved in the supply chain for many years. The supply chain of GOME has been upgraded from electrical appliances to all categories, with the aim of creating a super supply chain for “household consumption” based on the “Home . Living” strategy and the characteristics of household consumption. Through linkage optimisation, improving product competitiveness and strengthening supply price management, as of February, the GOME retail platform has accumulated nearly 2 million SKUs and attracted over 2,000 KOL/KOC, 4,200 manufacturers and 6,000 channel traders. The supply chain covers categories such as home appliances, food and wine, apparel, shoes and bags, home renovation, daily necessities, maternity and baby products, beauty and personal care, etc. By offering a wide range of products, GOME can better meet the needs of household users.

Self-developed warehousing and distribution logistics boost warehousing network expansion to achieve comprehensive logistics solutions

GOME’s logistics platform is a third-party logistics solution platform, committed to providing the society with professional logistics of full range of products, as well as providing quality services for the entire society, maintaining a dominant position in the field of home delivery of bulky and medium-sized products in urban areas. Currently, GOME’s self-developed logistics system, Anxun Logistics, realizes the logistics of goods covering small, medium and large-sized items and improve operational efficiency through platform standardization and agglomeration effects, while the third-party logistics business accounted for more than 48% in terms of volume. With logistics services open to the public, a new revenue growth driver is expected to be created. GOME has built a platform for the integration and collaboration of information flow, logistics and capital flow in the upstream and downstream of the supply chain to bridge the gap between the supply and sales. In the future, GOME will work together with industry partners to jointly promote the continuous optimization of the supply chain. Through deepening the distribution network, expanding logistics products and platforms horizontally, and extending the upstream services of the industry chain vertically, together with relying on the existing outlet distribution system, it can improve the network layout of express transportation and cold chain, build an open and shared platform of order taking, cloud-based warehouse and online delivery platform, and provide comprehensive supply chain logistics solutions based on the knowledge of business flow and warehouse transportation and distribution capabilities to contribute to the high-quality development of the entire retail industry.

The model of the digitalized physical economy jointly builds and shares data resources to lead strategic partners to achieve win-win cooperation and mutual development

The favorable hardware resources and the optimization of software make the contribution to GOME’s current leadership position in the retail industry. GOME pioneered to propose the innovative model of sharing and joint development and has completed the construction of the supply chain platform and the traffic platform to integrate online data resources. During the Reporting Period, the sharing and joint development platform has integrated and fully opened GOME’s own and its partners’ resources and capabilities, such as scenario/traffic + supply chain + promotion + operation by third party. By opening and sharing its professional retail resources to external partners online, including membership interconnection, data sharing and bonus points exchange, GOME will share and jointly build infrastructure, system resources and supporting services with manufacturers, promoters, agent operators and other parties. Through the open-up and the integration of the resources and capabilities of various partners, GOME helps the enterprises to achieve a long-term balance between its commercial interests and social benefits, while enabling GOME to become a platform for the aggregation of socialized omni-retail resources and the distribution and sharing of all-area digital intelligence to further expand its transaction scale. These advancements have contributed to the overall increase in GOME’s scale. In the future, the six platforms will continue to optimize and upgrade, empowering GOME, users and merchants to achieve win-win cooperation and mutual development.

GOME’s management concluded, “Against the backdrop of technology-driven and consumption upgrade, GOME has seized the momentum to formally put forward its ‘omni-retail ecological sharing platform’ strategy. Looking ahead, GOME will continue to adhere to the new development concept of omni-retail ecology, solve the pain points and difficulties of the traditional retail industry, adopt an open attitude to embrace ecological partners, use entertainment and social platforms to attract consumers, and continue to optimize the standard of “genuine products provided by selected merchants” by serving the public with professional store displays. With users as the core and service as the goal, GOME will open up the whole chain, integrate omni-scenario and construct omni-model to create a new chapter for the retail industry. This year, we will continue to uphold the Group’s mission of ‘enhancing efficiency with technology and creating better living with wisdom’ and the open sharing concept of ‘integration, coexistence, interaction and mutual complementarity’, return the trust and support of all parties with practical achievements and bring you a new GOME that is even better and more valuable.”

About GOME Retail Holdings Limited

Founded in China in 1987, GOME Retail Holdings Limited has been listed on the Hong Kong Stock Exchange since July 2004 (stock code: 493) and is a leading technology driven, experience-based, entertainment-oriented and socialized “Home . Living” technology retail service provider. Under the guidance of the second phase of its “Home . Living” strategy, GOME promotes online and offline integration with Internet technology, supports existing business growth with a strong supply chain, introduces new business with new scenarios, develops a post-service market with Internet of Things technology, drives the refined operation of stores with big data, enhances market competitiveness through network optimization, and raises the retail competitive barrier with strong service capability, and makes all-round efforts to transform from an appliance retailer to a provider of comprehensive home living solutions. GOME will continue to make use of technology and wisdom to create “authenticity”, “speed” and “joy”, and establish one of the most popular platform for enjoyable selling and buying with sharing.

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

Topic: Press release summary

Sectors: Retail & eCommerce


From the Asia Corporate News Network

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BYD starts strong in 2022 with sales of 92,926 New Energy Vehicles


BYD announced New Energy Vehicles (NEV) sales totaled 92,926, soaring 367.6% of sales in January 2021. Overall, BYD sold 95,180 passenger cars in January, up 126.1% year-over-year.

The strong sales start for 2022 comes after annual sales of nearly 600,000 vehicles in 2021.

BYD sold 46,386 pure electric vehicles in January, up 220.7% year-over-year. Meanwhile, BYD Dual Mode models sold 46,540 units, rocketing 760.6% year-over-year, thanks to its advanced DM-i super hybrid technology.

The flagship BYD Han model, a mid to large sedan, sold 12,780 units in January, marking the fifth consecutive month with a sales volume exceeding 10,000 units. Along with the Han, the Tang SUV achieved a sales volume of 9,060 units, revealing superb product power.

Addition to that, EA1 (code name), the very first production model built upon the e-platform 3.0, hit a monthly sales record at 10,602 units.

In addition to the strong sales start to 2022, Brand Finance, the world’s leading brand valuation consultancy, listed BYD at the top of its 2022 Global 500 report.


The Official Sponsor of Mother Nature™, BYD, the world’s leading electric vehicle company, is dedicated to creating a “total solution.”  Globally, BYD has committed to corporate social responsibility, deeply monitoring our supply chain in terms of human rights, environmental safety, hazardous substance control and intellectual property rights. We only select suppliers who share our commitment to just labor practices, human rights standards and the environment. For more information, please visit https://byd.com/ or follow BYD on LinkedIn, Twitter, Facebook and YouTube.

Hong Kong – A strong line-up of Hong Kong films featured at London East Asia Film Festival (with photos)

A strong line-up of Hong Kong films featured at London East Asia Film Festival (with photos)


     With the support of the Hong Kong Economic and Trade Office, London (London ETO), Create Hong Kong (CreateHK) and the Hong Kong International Film Festival Society (HKIFFS), the London East Asia Film Festival (LEAFF) 2021 selected 10 Hong Kong films for screening for from October 21 to 31 (London time).

     For the first time at LEAFF, a Hong Kong movie was selected as the opening film. To pay tribute to the late Hong Kong Director Benny Chan, LEAFF opened on October 21, 2021 (London time) with Director Chan’s final feature “Raging Fire” at ODEON Luxe Leicester Square, London. LEAFF 2021 also features a special Hong Kong Focus programme this year, highlighting the work of emerging directors.

     Amongst the 10 Hong Kong films, seven of them are part of HKIFFS’ Hong Kong New Talents Programme, which aims to introduce and promote the new generation of Hong Kong filmmakers to the international audiences. These seven films are (in alphabetical order):

  • Alan Fung’s “Elisa’s Day”;  
  • Chan Kin-long’s “Hand Rolled Cigarette”;
  • Erica Li’s “Just 1 Day”;
  • Man Lim-chung’s “Keep Rolling”;
  • Sunny Lau’s “Sugar Street Studio”;
  • Ricky Ko’s “Time” ; and
  • Jimmy Wan’s “Zero to Hero”.

     The three other Hong Kong films screened are Benny Chan’s “Raging Fire” and “A Moment of Romance”, as well as Soi Cheang’s “Limbo”. 

     Speaking at the opening gala of LEAFF 2021, the Director-General of the London ETO, Mr Gilford Law highlighted that Hong Kong is not only an international financial centre but also an international hub for cultural and creative industries with promising development opportunities. He said, “Within a short time span of three years, we saw the opening of Tai Kwun for heritage and arts, the Xiqu Centre in the West Kowloon Cultural District, and the refurbished and expanded Hong Kong Museum of Arts. With much anticipation, Asia’s first global museum of contemporary visual culture, the M+ Museum will open its doors to the public on November 12, 2021. All these venues provide the much needed space for the sector to grow and flourish.”

     Mr Law also spoke of the support of the Hong Kong Special Administrative Region Government for nurturing talents, as well as the Quality Migrant Admission Scheme including the associated immigration facilitation measures for any aspired international film talents to work in Hong Kong.

     LEAFF 2021 will run until October 31, 2021 (London time) with a diverse programme of films from East Asia. For more information, please visit www.leaff.org.uk/.

Building a Strong Mathematical Foundation is Streamlined in James Nearing’s “Mathematical Tools for Physics”

Dr. James Nearing, an Associate Professor Emeritus at the University of Miami understands that knowing the right answer does not always imply comprehension. He wrote “Mathematical Tools for Physics” to teach physics students and undergraduates how to handle problems in an educated and intuitive manner in order to help them establish a firm foundation in important mathematical techniques.
Before diving into infinite series, complex algebra, differential equations, and Fourier series in-depth, the author reviews basic mathematics. The next chapters cover vector spaces, operators, and matrices. Multivariable and vector calculus, partial differential equations, numerical and complex analysis, and tensors are among the topics that Nearing also discusses.

The book goes on to discuss complex variables, Fourier analysis, the calculus of variations, and densities and distributions. The book is an excellent resource for physics students who are working on a project. It’s an excellent math resource material.
The book was well-received and garnered a 4.5-star rating on Amazon.
“I bought this book after downloading part of the online version, the part dealing with Tensors. I found Nearing’s description the best I have seen. Finally, I have a ’feel’ for what tensors are. I have a Masters in Physics from years back and some things were a bit fuzzy. I have found Nearing’s other sections equally descriptive. Any book which can impart understanding is a jewel and this is one I enjoy reading.”  – Dennis E. Knowles.
Buy the book at: https://youronlinepublicist.com/product/mathematical-tools-for-physics-by-james-nearing/
Mathematical Tools for Physics
Author: James Nearing
Publisher: Your Online Publicist
Published Date: August 2021
Book Genre: Science & Math › Physics
About the Author:

James Nearing is Associate Professor of Theoretical Physics and Assistant Chair of his department at the University of Miami.

“Restaurant Strong” is Free on Amazon for One More Day (Until 09/03/2021)

Best Seller Publishing announces the release of Peter LeSar’s new #1 best-selling book, “Restaurant Strong: First Principles of Restaurant Outperformance and How to Make Them Yours.” It will be available for free download in the Amazon Kindle Store for one more day, September 3rd.

“Restaurant Strong” answer this question: “What do our restaurant leaders know that can help other restaurants to build more financially successful businesses?” Backed by a decade of research into 100+ of the world’s most powerful restaurant brands, “Restaurant Strong” uncovers 100 insights that literally define who rises to the top and who doesn’t in the restaurant business.

“Restaurant Strong” answers many essential questions such as: What is the true growth model of restaurants? How do restaurants outcompete for talented labor? What is the architecture of high-performing restaurant concepts? And, how do you financially outperform and outlast your competitors so that your brand leads in your market?

Supported by independent and chain restaurant leader case studies and valuable training links at the end of each chapter, “Restaurant Strong” offers a never-before-seen road map of exactly how restaurants shift gears from ordinary to extraordinary outcomes.

“Restaurant Strong” by Peter LeSar is free and available for download on Amazon for one more day (09/03/2021) at: https://www.amazon.com/dp/B09CKDC4H1

For More Information:

For questions or to schedule an interview about this press release please contact us at (626) 765-9750 or email info@bestsellerpublishing.org.

Best Seller Publishing is a Los Angeles Publishing Company dedicated to helping business owners and entrepreneurs become “the hunted” with their best-selling books.

About The Author

1) President of a $50M, 1,400+ employee hospitality company in Asia;
2) Interim CEO and CFO of hospitality company with $200M in sales in 7 countries across the globe;
3) Led growth of hospitality business from small private firm to public company;
4) Founder of restaurant acclaimed by The 50 Best in its Discovery Series, and covered by Vogue, Conde Naste Traveller, Men’s Journal and media from around t he globe; and 45 Founder of a 2nd restaurant recognized as one of the 15 “most important restaurant openings of the year” in the Americas.