Economy Retail Giant GOME Invests $16 Million in Sharing Economy Subsidiary

Economy Retail Giant GOME Invests $16 Million in Sharing Economy Subsidiary

Economy

Economy GOME
(Source: Inside Retail Asia)

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According to Chinese enterprise data platform Tianyancha, GOME Sharing Economy (Tianjin) Co., Ltd. was established recently with a registered capital of 100 million yuan ($16 million). The company is wholly-owned by GOME Sharing Network Technology (Beijing) Co., Ltd., and the actual controller of the company is Huang Guangyu, founder of Chinese consumer electronics retailer GOME.

The expansive business scope of GOME Sharing Economy includes online data and transaction processing, basic telecommunications services, engineering design, online culture management, production and operation of radio and television programs, tourism, and other areas.

SEE ALSO: GOME Retail Releases Unaudited Interim Results, Parent Company Experiences Net Loss of 2.6B Yuan

Founded in 1987, Beijing-based GOME is a home appliance retail enterprise. In December 2021, GOME founder Huang Guangyu expressed at a “Retail Ecological Partner Meeting”: “GOME is building a retail ecological sharing platform to provide solutions for retailers by integrating online and offline sales channels, and meet the needs of merchants for supply chains, enterprise management and financial management.”

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