WUSHANG GROUP CO., LTD.

Wushang Group Co., Ltd. is a prominent retail enterprise based in Hubei Province, China, and is recognized as the largest comprehensive commercial entity in the region. The company was listed on the Shenzhen Stock Exchange in 1992 as the first commercial stock from outside Shenzhen. Wushang Group has established itself as a key player in the retail sector, focusing on the development of its main business lines while adhering to a strategy of growth within Hubei Province. The company's operations encompass three primary business types: Mall Commercial City, Shopping Centers, and Supermarket Chains. Wushang Group operates a network that includes a Mall Commercial City and ten Shopping Centers, with significant retail space dedicated to its own properties. It also manages 69 supermarkets across Wuhan and other prefecture-level cities in Hubei. The company is known for its innovative approaches, such as integrating e-commerce with traditional retail and enhancing product quality in its supermarkets. Wushang Group aims to strengthen its market position while maintaining a focus on regional development and operational excellence.

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.