As Gome's restructuring of the Sanlian Commercial Group gained approval at the board meeting, investors gave a positive verdict at the secondary market. Sanlian resumed trading on February 2, 2009, with its shares up 9.98 percent to 5.07 yuan.
After nearly a year's effort and patience, Gome has finally joined the board of Sanlian shareholders. According to an online survey, 73 percent of netizens believe Sanlian will have a better future under the leadership of Gome and 62 percent are optimistic about Sanlian shares.
Learning that so many people support Gome's takeover of Sanlian, Sun Yiding, Sanlian's new vice chairman said that Sanlian's core management will do their very best to lift the company out of its current difficulties as quickly as possible.
Sanlian is a famous brand in electric home appliances, said Sun. As the biggest shareholder of Sanlian, Gome will share with Sanlian all kinds of optimized resources, such as contract policies and capital and human resources.
When asked about how to deal with Sanlian's existing problems, Sun said that Sanlian's current operations are not entirely smooth, and the company is experiencing some genuine challenges. But the company's management team will get to grips with these issues and try to address them steadily.
Though Gome is the biggest shareholder of Sanlian, Sanlian will maintain its independence as a business operation.
For more details, please read the complete Chinese story here at:
http://paper.cnstock.com/html/2009-02/04/content_66918326.htm
(China.org.cn by Zhang Ming'ai, February 4, 2009)
