Market Chatter: GOME Holdings to Diversify into Auto Sector

MT Newswires Live06-06

Gome Holdings Group plans to diversify into the automotive retail sector to boost its revenue, Yicai Global reported Wednesday, citing an insider.

The electronics retailer's vehicle experience pavilion project has obtained partnership requests from more than 10 Chinese and foreign automobile makers since it launched in May, the report said.

Gome's new auto store will sell new energy cars and fossil-fuel cars from famous luxury brands and local brands, as well as cars made by joint ventures with Chinese and foreign automakers, Yicai said.

The pavilion will hire franchisers from across China and will give them access to the supply chain's of Gome's car business partners, among other benefits, the report said.

Gome Holdings is the parent of Hong Kong-listed GOME Retail Holdings (HKG:0493).

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $0.03, Change: $, Percent Change: -5.88%

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