108 years ago today, on October 20, 1917 (September 5, 1917, the first self-built department store in China opened for business. Cosmetics distribution under Sincere Company On October 20, 1917, Sincere Company, the first self-built department store in China, officially opened in Shanghai. On the day of opening, the door was already crowded, Nanjing Road was blocked, and the mall was crowded with people, and shoppers and visitors rushed to it. On the same day, the attached East Asia Hotel reopened for business, with first-class equipment in Shanghai. At the same time, it also has a famous restaurant in East Asia, including Chinese and Western cuisine, Manchu and Han banquet and economic drinks, coffee spots, etc. There is also a luxurious ballroom where Shanghai female singers are hired to perform. Buying, eating, playing, and living are all in the building. People often stay for several days without returning, making Shanghai Xianshi Company's business very prosperous. In 1914, Huang Huannan, an overseas Chinese businessman who once lived in Australia, visited Shanghai twice for on-site investigations and specific preparations. He rented 10 acres of land from the owner, Rexite Foreign Exchange, and built a new five-story building with north facing south here. After the decision of the Children's Affairs Association, Shanghai Bank raised 600,000 yuan from an independent IPO, of which Hong Kong Bank allocated 1/10 of the shares first and made public offerings in Shanghai, Hong Kong and Guangdong, and soon the shares were all completed. Due to the huge project, additional investment is needed continuously. The board of directors decided to increase shares by another 600,000 yuan. Some people think that it should not be recognized again, but Huang Huannan believes that "refusing to accept will defeat the enthusiasm of the subscribers, and accepting the hardship will have no share to respond. After repeated review, the stronger the capital, the more credit will be, and the larger the business, the easier it will develop. Rather than losing the enthusiasm of shareholders, it is not better to expand the stock." Therefore, it was decided to increase the amount of 2 million yuan. After the shares were full, the board of directors of Shanghai Bank was established, with Ma Yingbiao as chairman and supervisor, and Huang Huannan as director and first chief manager. At this time, Yong 'an Company was also preparing to build a Shanghai Building on the south side of the road. Xianshi Company stepped up construction and was finally completed before Yong' an Company was completed.