The Legend of Huang Guangyu: The Real Story of the Gome Business War

Author: Liu Hongyan
Publisher:
Publish Date: 2006-03-01
Features: Huang Guangyu, a retail industry tycoon who created miracles through traditional means, a person who changed the rules of China's retail industry. How did he transform from a small shop owner to China's "home appliance giant"? This is a record of Huang Guangyu's business battles in the retail world, the unbeatable Huang Guangyu's strategy in the business arena. Born into an ordinary farmer's family in Fenghu Village, Shantou City, Guangdong Province, he started working outside at the age of 16. At 18, he embarked on a difficult entrepreneurial journey in Beijing, reaching new heights year by year in 19 years. Today, he has become China's first billionaire with a net worth of 14 billion yuan. He changed the rules of traditional Chinese retail and was hailed by the management as "China's Sam Walton." He is Huang Guangyu, the chairman and CEO of the wealth hero Guomei Electric Appliances Company. The success of Guomei and Huang Guangyu's entrepreneurial legend are no longer just a phenomenon or a concept; they are a microcosm of the economic and social changes in contemporary China, with strong characteristics of the times.
On New Year's Day in 1987, at the age of 18, Huang Guangyu and his brother Huang Junqin opened an inconspicuous electrical appliance store using the small storefront they rented on East Zhimizhoutai Street in Xuanwu District, Beijing. The store, which initially only sold televisions, was the former location of a clothing store and had a loud name—"Guomei." Through 19 years of relentless effort, this small shop that started with only tens of thousands of yuan and low-cost entrepreneurship had grown by 2005 into a large home appliance chain group with over 60,000 employees, annual sales exceeding 40 billion yuan, covering more than 120 cities across the country, and over 400 stores. Guomei Electric held the leading market share in China's home appliance chain industry and was known both domestically and internationally as China's "home appliance giant." As the chairman and CEO of Guomei Electric, Huang Guangyu also topped the Hurun Report's list of China's richest people in 2004 and 2005, with a net worth of 14 billion yuan.
This book is presented in the form of a serialized novel, divided into 38 chapters, providing a comprehensive introduction to Huang Guangyu and Guomei's "business battle record" in the retail world. The author uses concise and fluent language, insightful commentary, and a profound cultural atmosphere to deeply elaborate on the tortuous growth of Huang Guangyu and Guomei in a specific market economy environment, and explains to the world that the success of Guomei and Huang Guangyu's entrepreneurial legend are no longer just a phenomenon or a concept; they are a microcosm of the economic and social changes in contemporary China, with strong characteristics of the times. The book is accompanied by over 100 photographs.