WUSHANG GROUP CO., LTD.
武商集团
000501
Shenzhen Stock Exchange
Company Profile
In 1986, Wushang Group took the lead in exploring shareholding reform throughout the country. In 1992, it became the first large commercial group in China to be listed in a foreign market. The company adheres to the development concept of two “stand unswervingly”: stand unswervingly to make the main business bigger and stronger, and determine not to engage in diversified development; stand unswervingly to first develop bigger and stronger in Hubei province, and not blindly expand outside the province. From 2006 to 2018, the total assets of the Group has increased 5.7 times, the owner’s equity increased 6.68times, the total profit increased 9.19 times and the net profit that belonged to the owners of the parent company increased 12.55times. In 2015, the company was the first one who launched the restricted stock incentive scheme in Wuhan municipal state-owned enterprises. In 2016, the non-public issue new shares for ESOP were successfully listed with the realization that the staffs share the development fruits of the enterprise and full mobilization of the staffs, which is a successful exploration of the capital innovation. The company unswervingly focuses on the development goal to "become stronger in Wuhan, bigger in Hubei Province, and have standing nationwide", and strives to become "Wuhan City Business Card, Hubei Province Business Card, China National Business Leader." with the enterprise spirit "greater courage to change, higher realm to transcend". During the "13th Five-Year Plan" period, the Group's target is to achieve the "Wushang double growth", and stride forward to become the leader in China’s Commercial Industry through unremitting efforts.
Full description
Wuhan Dept. Store Group Co., Ltd is the largest comprehensive commercial enterprise in Hubei Province. In 1992, "E Wushang" (000501) was listed on the Shenzhen Stock Exchange as the first commercial stock with its base outside Shenzhen in China. The company ranks among the top 20 key large-scale circulation enterprises fostered by the Ministry of Commerce. Wushang Group boasts nearly 20 subsidiaries and branches, forming three main business types: Mall Commercial City, Shopping Center and Supermarket Chain. The company's business network expands from Wuhan to the 12 prefecture-level cities in Hubei Province. The company has a Mall Commercial City and 10 Shopping Centers with an area of 2.272 million square meters and 2.178 million square meters as its own property. It owns 69 supermarkets with 30 stores in Wuhan and 31 stores in prefecture-level cities in Hubei Province covering 449 thousand square meters and 120 thousand square meters as its own property. The Mall Commercial City consists of Wuhan International Plaza, Wushang Plaza, and World Trade Plaza, which are constantly enhancing advantages based on their respective market positioning and business characteristics with multi-position management so as to realize complementary advantages. Wuhan International Plaza, subordinated to Wushang Group, takes lead in the total sales of international luxury goods in the industry; Wushang Plaza ranks first in terms of profits, sales per square meter, make-ups, women's and men's leisure category sales nationwide; World Trade Plaza ranks first among nationwide department store business types in retail of gold jewelry sales. Mall Commercial City Business District ranks first on sales in Central China. Wushang Group Asia Trade Plaza, Wushang Zhongyuan Plaza, Xiangyang Shopping Center, Shiyan People’s Shopping Mall, Xiantao Shopping Center, Huangshi Shopping Center, Laohekou Shopping Plaza and other shopping centers are also taking the lead in their respective regions. Wushang supermarket improves quality and efficiency by introducing high quality and superior products, accelerating the optimization and upgrading of channels, enhancing the business operation of import commodities and the quality of fresh food, which creates a new model “supermarket+catering” and leads supermarket industry in Hubei province. The E-commerce company accelerates the exploration on omni-channel scene by Internet marketing model and cooperation with the retail enterprises subordinated to Wushang Group so as to enhance omni-channel integration. Models including expansion of cross-border electronic suppliers, direct purchase of import commodities and B2B group purchase have become new growth points.