Gome Net Earnings Fall 7%

Gome Electrical Appliances Holdings (HKG: 0493), a major Chinese retailers of white goods and electronics, recorded ¥1.5 billion in net income for 2008, down 7% from a year earlier. Operating revenues amounted to ¥45.9 billion, slightly crawling up from ¥42.5 billion in 2007. Trading of its shares has been halted since 24 November 2008 following a probe into company founder Huang Guangyu. Suning Appliances (SHE: 002024), Gome's bitter foe, netted ¥2.2 billion from ¥49.9 billion in revenue in 2008.

$1 = ¥6.8