The predecessor of the company is Wuhan Zhongnan Commercial Building. Zhongnan Commercial Building, founded in 1984, is a large-scale commercial retail enterprise owned by the whole people, mainly engaged in commercial retail and wholesale business. 1989 65438+in February, with the approval of Wuhan Economic Restructuring Commission, the company was established on the basis of Zhongnan Commercial Building; 1in March 1990, the company issued13.75 million individual shares to the society; 1992, the company issued 8.6 million legal person shares to the society; 1993, the company converted the value of operating land use rights into 7.5 million shares of state equity. 199365438+On February 29th, the State Commission for Economic Restructuring approved the company to carry out standardized joint-stock enterprise pilot projects with documentNo.. [1993] 238.1at the end of 996, the company merged six enterprises as a whole, including Wuhan Zhongnan Shangdu, Wuhan Zhongnan Hutchison Industrial Development Company, Wuhan Zhongnan Tourism Catering Company, Zhongnan Department Store Boutique Shopping Mall, Da Qiao Boutique Shopping Mall and Zhongnan Seagull Maternal and Child Supplies Shopping Mall. After the merger, the company invested funds to transform the commercial outlets in the merged enterprise, build chain stores and specialty stores, increase the business area by 20,000 square meters, and create good economic benefits.

1On September 5, 1996, with the approval of the Municipal Commission for Economic Restructuring [1996] 21,the company name was changed from "Wuhan Zhongnan Commercial (Group) Co., Ltd." to "Wuhan Shangzhong Group Co., Ltd.", and it was renamed on February 6, 1997. Since its establishment, the company has always paid attention to the development of its main business, and rapidly expanded its scale through investment, new construction, expansion and merger. The income and profit of the main business have increased year by year. With the opening of Shashi department store chain and the merger of Wuhan Zhongnan Shangdu. Wuhan Shangzhong Plaza Shopping Center adjacent to the company headquarters and Xu Dong Fair Price Market near Wuhan Yangtze River Bridge are expected to be completed and opened in August 1997. The establishment of new commercial outlets has laid a solid foundation for the company to stabilize and improve its market share in Hubei and Central China.