Financial Resource

Recent news that Gome shares to be transferred through the introduction of foreign strategic investors, and talks are underway, the country approached the United States are related to investors, to discuss transfer of shares and the formation of a strategic alliance matters. In related news, according to a recently released U.S. State e-mail statement, Gome will sell shares during the year completed, a statement provided no details.

Yesterday (April 1, 2007), the Shanghai Securities News reporter called Gome president Chen Xiao, the other cell phone while in the connected state, but still no answer. The Gome spokesman Ho Ching Yang told reporters, stressed that the country is not currently on the U.S. “to foreign investors by selling stock to” make any specific plans for the so-called “statement” GOME and knowledge. States United States does have contact with overseas investors, but this is a normal business dealings.

Reporter learned that the introduction of foreign investors on the country the United States is not a groundless rumor, however, states the United States for so-called “end of the year will complete the share transfer” to make denial. March 20, Chen Xiao said when interviewed by the media, the National United States is considering the introduction of strategic investors, issuers, and return to A-share market to raise funds, etc., specific programs will be decided later this year; for this in several ways, He believes that every program is good, and now there is no obvious bias.

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Ho Ching Yang told reporters that the United States as the country’s largest home appliance chain enterprises nationwide, always in accordance with the plan to promote the development of the country the United States, countries the United States do not currently short of money, the country being the U.S. capital on their own rapid development. But He also said Yang Qing, “China is positioning itself as a US-international enterprise, not of rejection and ostracism by optimizing the investment portfolio to accelerate the process of internationalization of the country the United States.”

Gome president Chen Xiao in an interview before had said the company needed was a long-term strategic investors, but declined to say what the potential targets. Industry insiders, as China’s largest home appliance retailer, Gome are trying to find strategic partners in order to resist such international giants Wal-Mart, BestBuy and competition. If the country the United States with a multinational appliance retailers, Gome will help to improve business management and visibility, Gome partnership with Warburg Pincus and Morgan Stanley, but the two are financial investors.

In fact, recent state actions the United States has frequently been in the capital market attention. Late last year, Gome to 675 million U.S. dollars of the price of the acquisition of Paradise Electronics. March 5, the National US-Singapore Pacific Star Group, jointly with the 8 billion real estate fund. On March 20 countries the United States once again with the United States investment bank Bear Stearns announced the establishment of 5 million retail investment funds.

Currently 200 cities in China, Gome has more than 800 outlets, while the construction in the next five years, the 30 logistics centers nationwide to reduce transport costs and improve profit margins. Said Chen Xiao, Gome in the next five years in the Mainland market share to 25%. In 2007, the Group would focus on improving profitability of single-store, instead of a simple strategy of expanding retail network. Chen Xiao said the company hopes the next five years to achieve an annual turnover of at least 30% growth. Analysts believe that this expansion is a clear need for strong money as a pillar. Whether the introduction of international investors, or enter the A shares, means that it will once again to the capital market, “swindling money.”

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