Sales revenues of China's largest electronics retailer Gome Electronic Appliances Holding Ltd reached 10.1 billion yuan in the first quarter of 2007, up 80 percent on the same period last year, according to its quarterly statement.

 

Gome's net profit hit 169 million yuan, up 75.1 percent, the statement said.

 

Chen Xiao, president of the company, attributed the surge to Gome's maturing sales network.

 

"The surge reflects the effect of Gome's integration with China Paradise Electronics Retail Ltd," Chen said.

 

China Paradise, another major home appliances retailer, had a total of 205 distribution stores nationwide at the end of March 2006.

 

Gome plans to open 200 more home appliances stores and 100 cell phone stores in China, Chen said.

 

The company, who has stores in 220 cities, plans to enter 15 new cities in China, he said.

 

(Xinhua News Agency May 11, 2007)