The Group has a long history of operations in China. In 1987, the Group's first electrical appliance retail outlet was opened in Beijing and the brand name "GOME" was first adopted in 1993, which marked a significant milestone in the development of its chain store network. By 1999, the Group took the first step outside Beijing and established its first retail outlet in Tianjin. Since then, the Group has rapidly expanded into other major cities in China and gained widespread consumer awareness and acceptance. In July 2004, the Group obtained a listing status in Hong Kong through an asset injection of a 65% stake in GOME Appliance Co., Ltd into a Hong Kong listed company. In August 2004, the listed entity officially adopted the name "GOME Electrical Appliances Holding Ltd".