WUSHANG GROUP(SZ:000501)2023-05-31 10:19Group 1: Business Overview - Wushang Dream Era has a total construction area of 1.38 million square meters, making it the largest pure commercial complex globally and the first "commercial, cultural, and tourism" complex in China [2] - The project features a family-oriented social platform, including a shopping center, indoor theme park, and ice and snow park, with unique attractions like the first shopping center indoor ski resort in China [2] - Since its opening, Wushang Dream Era has received over 20 million visitors [2] Group 2: New Projects and Performance - Nanchang Wushang Mall opened on April 28, 2023, attracting over 170,000 visitors on its first day and featuring 260 brands, with over 90% opening rate [3] - The mall includes 78 first stores in Nanchang, 26 luxury brands, and 19 international high-end brands [3] - The company plans to leverage this project to enhance consumer engagement between Hubei and Jiangxi provinces [3] Group 3: Retail Operations and Strategy - The company is integrating Wushang Mall to create a nationally influential top-tier business district, enhancing its brand image and service offerings [3] - The company is also focusing on transforming regional markets into shopping centers, optimizing product categories, and improving service functions [3] - The "Wushang Preferred" brand is being promoted to enhance sales and expand online and offline channels [3] Group 4: Competitive Landscape and Regulatory Matters - The company is still fulfilling commitments regarding competition with its major shareholder, Wuhan Merchants Union Group, with no updates on resolving competitive issues [4] - There is currently no progress on the application for a duty-free license, with uncertainty regarding approval [4]