Huang Guangyu, the founder and still-largest shareholder of the electronics retailer Gome, was tried last week on bribery and insider trading charges.

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Yet its pain pales into comparison with that felt by the likes of online retailers like Suning, Gome and 360buy.com, which are struggling to clear inventory from their warehouses.

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Gome said 51.89% of shareholders voted against the resolution to remove Chen, while 48.11% were in support.

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