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The company's predecessor was Belle Mall, which was founded in 1939. In December 1966, it was approved by Shanghai Department Store and named Shanghai No. 9 Department Store. Shares were publicly issued to the public in 1993/10. On February 24, 1994, the Company's stock was listed on the Shanghai Stock Exchange. The company's main business involves washing and dyeing services, production and sales of washing chemical products, wholesale and sales of alcohol products, commercial property leasing management, and equity investment management.