Profit for Chinese electronics and home appliances retailer Gome in the third quarter of 2016 saw growth compared with the second quarter.
According to the report, Gome Group realized sales of about CNY55.39 billion during the first three quarters of 2016, a year-on-year increase of 15%; its comprehensive gross margin was 16%; and its expense rate decreased by 0.3% year-on-year to 15.7%. The group had ample book cash and its cash and cash equivalents were CNY11.36 billion.
The group's gross merchandise volume saw a year-on-year increase of 25% to CNY78.5 billion, of which online businesses contributed CNY21.6 billion, a year-on-year increase of 106%. At the same time, Gome's mobile end GMV increased by 177% year-on-year and it accounted for 66% of the group's total online GMV.
In addition, Gome is gradually transferring from a home appliances retailer to an online and offline family life system solutions provider, and they are accelerating the building of a full retail ecosphere.
Wang Junzhou, president of Gome, said that Gome will provide "diversified, multi-model, and multi-application scene-style experiences" to consumers to achieve deep connection with consumers.