Shanghai-listed Zhejiang Store Co Ltd is expected to be renamed after Zhejiang Xinhu Group, which won the naming rights for the world's first commercial-use magnetic levitation (maglev) train in Shanghai, on April 14.

　　With a 29-percent stake, Zhejiang Xinhusgroupsis the largest shareholder of Zhejiang Store, which used to focus on retail business but plans to switch to real estate.

　　"The firm's renaming will be a milestone in its business strategy adjust-ment," said Gu Jianhui, an analyst with Shiji Securities.

　　The Zhejiang-basedsgroupsbecame famous overnight last month after it won exclusive advertising rights on the maglev train.

　　By paying 20.9 million yuan (US.5 million), Zhejiang Xinhu named the Shanghai Maglev Trans-portation Development Co Ltd's train "Xinhu Pearl."

　　"We want to make full use of the publicity power of the maglev train to promote our brand in Shanghai. We hope Zhejiang Store can share the benefits," said Chen Jian, general manager of Shanghai Xinhu Real Estate Co Ltd, the group's local branch.

　　With total assets of 1.5 bil-lion yuan, Zhejiang Xinhu is developing a 4.7-billion yuan residential project - Shanghai Xinhu Pearl City - in Putuo District.