Dashang Group

What Dashang Group does

Dashang Group, operating through its listed entity Dashang Co., Ltd. (大商股份有限公司, SSE: 600694), is a Chinese multi-format retailer headquartered in Dalian, Liaoning Province. The company traces its origins to the 1992 restructuring of the state-owned Dalian Department Store and listed on the Shanghai Stock Exchange on November 22, 1993. It serves general retail consumers across China through a portfolio of distinct store brands: MYKAL (麦凯乐) for upscale department stores, New Mart (新玛特) for large-scale shopping centers, and KINGSON (千盛) for fashion-oriented retail, supplemented by Dashang Appliances (大商电器) for electronics, Dashang Fresh (大商鲜生) for supermarkets and fresh food, Madison City Outlets for premium off-price retail, and the adjacent Dalian Riches Hotel (大连瑞诗酒店) for hospitality.

The group's go-to-market is direct-to-consumer physical retail, with the network spanning at least six provinces — Liaoning (home base), Heilongjiang, Shandong, Henan, Jilin, and Fujian — anchored by flagship locations such as Dalian Maikailai General Store, Harbin Maikailai, Qingdao Maikailai, Shenyang New Mart, Zhengzhou New Mart, and Daqing New Mart. Marketing channels are traditional: store-level promotions, anniversary events, seasonal campaigns, and local newspaper/outdoor advertising. Pricing is not publicly disclosed; the business model is straightforward one-time retail sales across categories (apparel, groceries, electronics, lifestyle goods).

Dashang generates revenue from three core streams: department store retail under the MYKAL/New Mart/KINGSON brands, supermarket operations under Dashang Fresh, and electronics retail through Dashang Appliances. Recent financial performance shows a declining top line: revenue contracted from approximately $7.33B in 2023 to $6.20B in 2025, with EBITDA falling from $1.82B to $1.60B over the same period, reflecting the broader secular pressure on China's traditional department store format. The company employs over 100,000 people across the group and has no disclosed AI/ML capabilities, patents, or technology platform beyond conventional retail operations.

Name

Dashang Group

Legal name

大商股份有限公司

Website

https://dashanggufen.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Dashang Group operates through its listed entity Dashang Co., Ltd. (SSE: 600694), a Chinese multi-format retailer running department stores (MYKAL, New Mart, KINGSON), supermarkets, electronics chains, and outlet malls across at least six provinces, serving general retail consumers primarily in Northeast and Central China.

Ownership category

akta.pro rank

NAICS

Department Stores (455110), General Merchandise Retailers (455)

SIC

Retail-Department Stores (5311), Retail-Miscellaneous Shopping Goods Stores (5940)

akta.pro primary industry

Full-Line Traditional Department Stores (CRAGAAAA)

akta.pro secondary industries

Regional Luxury & Premium Department Stores (CRAGAFAE), Regional Full-Line Department Stores (CRAGAFAA)

Keywords

• Department store retail
• Supermarket chain
• Electronics appliance retail
• Outlet shopping centers
• Multi-format retail

Headquarters

HQ city

Dalian Shi

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Retail Sales: Revenue from department store retail operations under brands including Maikail (麦凯乐), New Mart (新玛特), and Qiansheng (千盛)
2. Supermarket Operations: Revenue from supermarket chain operations
3. Electronics Retail: Revenue from electronics/appliance retail through Dashang Electric (大商电器)

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Dashang Group operates a multi-format, multi-brand retail business in China, encompassing department stores (MYKAL/麦凯乐, New Mart/新玛特, KINGSON/千盛), supermarket chains (Dashang Fresh/大商鲜生), electronics and appliance retail (Dashang Electric/大商电器), outlet shopping centers (Madison City Outlets), and hotel services (Dalian Riches Hotel). The company serves general consumers across multiple Chinese provinces through physical retail storefronts, offering apparel, groceries, electronics, and lifestyle products.

Product overview

Dashang Co., Ltd. (大商股份) operates a multi-format, multi-brand retail model with three main business formats: department store chain, supermarket chain, and appliance/electronics chain. The department store format is further divided into three sub-brands: 麦凯乐 (MYKAL) for modern high-end百货, 新玛特 (New Mart) for large comprehensive shopping centers, and 千盛 (KINGSON) for fashionable popular retail. Supporting businesses include 大商电器 for electronics retail, 大商鲜生 for fresh food supermarkets, and 大商·麦迪逊城市奥特莱斯 for outlet shopping. Additional services include hotel operations through 大连瑞诗酒店. The company operates nationwide across multiple provinces in China.

Differentiator

Problem solved

Functional benefit

Brands

• 麦凯乐 (MYKAL): Modern upscale department store format — major flagship stores include Dalian Maikailai General Store, Harbin Maikailai, and Qingdao Maikailai.
• 新玛特 (New Mart Shopping Mall)
• 千盛 (KINGSON)
• 大商电器
• 大连瑞诗酒店 (Dalian Riches Hotel)
• 大商鲜生 (Dashang Fresh)
• 大商·麦迪逊城市奥特莱斯 (Dashang Madison City Outlets)

Segments1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor.

• Hisense Group (海信集团)minorOthersDashang Electric (大商电器) received first place in Hisense Group TV key customer competition in 2020
• Haier Group (海尔集团)minorOthersDashang Electric (大商电器) received Haier Group 2019 High-End Leadership Award First Place and 2019 Outstanding Contribution Award First Place in 2020

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• CR Vanguard (China Resources Vanguard): China Resources Vanguard operates supermarkets, hypermarkets, and department stores across China as part of the larger CR Holdings conglomerate. Its diversified retail portfolio and scale make it a broad incumbent comparable to Dashang's combined offering.
• Suning.com: Suning is one of China's largest electronics and appliance retailers with both physical stores and a substantial e-commerce platform. It is directly comparable to Dashang Electric, with stronger omnichannel capabilities representing both competition and a potential digital benchmark.
• Gome Retail Holdings: Gome is a leading electronics and appliance retailer in China with deep supplier relationships similar to Dashang Electric. It competes for the same electronics consumer and offers comparable brand assortments across physical and online channels.

Direct peers

• Wangfujing Group: Wangfujing is one of China's largest department store chains, directly comparable to Dashang's Maikail, New Mart, and Qiansheng formats. It operates department stores, outlets, and increasingly omnichannel retail across major Chinese cities, competing for similar middle-class and premium consumer segments.
• Beijing Hualian Group (BHG): BHG operates department stores and supermarkets across China with a multi-format strategy closely paralleling Dashang's. Its combined department store and grocery footprint positions it as a direct multi-format competitor in similar Northern Chinese markets.
• Yintai Group (Intime Retail): Yintai/Intime is a major Chinese department store and luxury retail operator, now part of the Alibaba ecosystem. Its department store format, premium brand mix, and multi-city footprint make it a close comparable to Dashang's high-end Maikail and New Mart banners.
• Yonghui Superstores: Yonghui is one of China's largest supermarket and fresh food retailers, directly comparable to Dashang Fresh. Its scale, fresh produce focus, and national expansion parallel the supermarket pillar of Dashang's multi-format strategy.
• Maoye Department Store: Maoye is a major regional department store chain operating in similar geographic markets as Dashang. Its tiered brand portfolio of department stores and shopping centers makes it a direct comparable for multi-format retail strategy execution.
• Parkson Retail Group: Parkson operates department stores across China targeting middle-class and premium consumers, with formats comparable to Dashang's Maikail and New Mart. Its mall-based department store footprint overlaps with Dashang in regional Chinese cities.

Regional players

• Lianhua Supermarket Holdings: Lianhua is a major supermarket and convenience store operator in Eastern China with multi-format retail comparable to Dashang Fresh. Its regional concentration provides a geographic comparison point, particularly for evaluating Dashang's potential expansion strategies.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/dashang-co-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dashang Group