Gome's first half net profit rose 110%

GOME announced its first half results expected report; the report shows that in the six months ended June 30, 2014, GOME listed companies increased sales revenue over the same period last year, of which comparable stores sales growth is expected to exceed 7 %. The consolidated gross profit margin is expected to exceed 18% during the reporting period, while the expense ratio is expected to record a year-on-year decrease.

The report shows that Gome's e-commerce business has grown rapidly. The total volume of e-commerce transactions (including the platform transaction amount) is expected to increase by more than 50% over the same period of last year; its gross profit margin is expected to exceed 7%.

Based on the above reasons, Gome's general business net profit is expected to increase by more than 80% over the same period of last year with a net profit margin expected to exceed 2%. Including non-recurring income recorded during the reporting period of approximately RMB100 million , The profit attributable to the owners of the parent company owned by Gome is expected to increase significantly by 110% over the same period of last year.

Gome said the company plans to launch modern regional warehousing in Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Xi'an, Wuhan and Shenyang and radiate its surrounding areas with core cities as the center to meet the "offline + online + mobile + affiliate" Omni-channel retailers strategic needs, truly cross-geographical, cross-distribution and cross-channel full service consumers.

Wang Junzhou, president of Gome, said that Gome will continue to leverage the integration advantages of procurement, logistics and information supply chain value platforms and export Gome's open and cost-effective supply chain in an all-round way. In the future, with the industry-leading platform of "O2M Omni-Channel Retailers" , Gome will gradually become China's largest and most professional full-channel retailers.