Chinese electronics and home appliances retailer Gome has published its unaudited results for the first quarter of 2011, and it is also the last quarterly report before Chen Xiao, former chairman of Gome, departed the company.

Chinese electronics and home appliances retailer Gome has announced that Chen Xiao, chairman and president of Gome, will no longer hold the position of president and the position is now given to Wang Junzhou, former executive director and executive vice president of the company.

Chinese electronics and home appliances retailer Gome has published its unaudited financial report for the first quarter of 2010, stating that its operating revenue increased by 20.21% year-on-year to CNY11.782 billion; its operating profit increased by 65.7% to CNY532 million; and its net profit increased by 3.42% to CNY333 million.

Chinese home appliances and electronics retailer Gome has announced that it has signed a franchise license agreement with the 2010 Shanghai World Expo to become the authorized retailer of World Expo-related home appliances.

It is reported that U.S. private equity firm Bain Capital is to buy a 18% stake in China's electronic retail giant Gome for USD400 million.

The Chinese electronics retailer Gome Electrical Appliance reports that Huang Guangyu has resigned his positions as director and chairman of the board of directors of Gome and is replaced by Gome's current executive president Chen Xiao.