- Business
- Wushang Group Co., Ltd. (000501.SZ) operates as a leading commercial retail enterprise primarily engaged in department store and supermarket operations in central China. The company offers a diverse range of merchandise through its shopping malls, including fruits and vegetables, livestock products, aquatic products, daily ingredients, grain and oil, seasonings, leisure food, and beverages; supermarket chains providing groceries, household items, and electronics; and ancillary services such as real estate development, property management, asset management, import and export trading, wholesale of commodities, exhibition design and production, ice and snow culture management, shopping mall management, and city planning services. It manages key brands and properties like Wushang MALL, Wushang MALL World Trade, Wushang Dream Times, Wushang Supermarket, Wushang City Outlet, and regional outlets in cities including Xiangyang, Shiyan, Xiantao, Huangshi, and Nanchang.
Founded in 1959 as the Sino-Soviet Friendship Mall and formerly known as Wuhan Department Store Group Co., Ltd., the company is headquartered at Wuhan International Plaza, No. 690 Jiefang Avenue, Jianghan District, Wuhan, Hubei Province, China. Wushang Group conducts its core retail activities mainly in Hubei province across multiple cities such as Xiangfan, Ezhou, Huanggang, Shashi, Xianning, Yichang, Shiyan, and Huangshi, with commercial retail space exceeding 720,000 square meters; it also extends operations to neighboring regions including Jiangxi.
In recent developments, a wholly-owned subsidiary, Wuhan Jiangtun Digital Technology Co., Ltd., signed a letter of intent in November 2025 with Tang Yongbo to acquire 70%-100% equity in Hangzhou Xiaodian Technology Co., Ltd., a shared power bank operator, to integrate offline traffic networks and digital capabilities for a strategic shift from traditional retail toward a commercial technology model. The company issued 500 million yuan in 270-day bonds and registered for 1.5 billion yuan in medium-term notes valid through 2027, while launching initiatives like the first domestic duty-free store in Wuhan, a membership store (WS Jiang豚会员店), and a green channel for export-to-domestic sales enterprises. In 2025, Wushang Group reported first-quarter net income growth of 2.85% year-on-year to 143 million yuan and completed a share repurchase of 19.09 million shares for 144 million yuan.