HK Stock Market Move | Red Star Macalline Group Corporation (01528) fell more than 20% at the end of the day, planning to establish a commercial mortgage loan asset support plan of up to 2.75 billion yuan.

Red Star Macalline Group Corporation (01528) has been soaring for several consecutive days, with a maximum increase of over 60% within the month. The stock price fell more than 20% at the end of today, down 21.51% to HK$2.08, with a turnover of HK$153 million. On the news front, on the evening of November 8th, Red Star Macalline Group Corporation announced that it plans to use its Beijing Zizun MALL property assets and the Red Star Macalline Group Corporation building materials life mall in Yantai, Shandong Province as underlying assets, to raise funds from qualified investors and establish an asset support plan, with an issuance size not exceeding 2.75 billion yuan, and a term not exceeding 18 years. Public data shows that both underlying assets have been incurring losses since last year. In addition, Huaxi pointed out that Red Star Macalline Group Corporation has actively responded to the national call and has fully connected to the government platform in nearly 20 provinces and cities at 223 malls from October 13th to November 11th, promoting a large-scale trade-in of old appliances and home furnishings. The policy has already shown initial results in Shanghai, with 8 malls under the company achieving sales of 143 million yuan from October 1st to 7th during the National Day Golden Week, a 112% increase year-on-year, with 16,200 effective store visits, a 24% increase from last year, achieving growth in both customer traffic and sales. With the further improvement of the coverage of the government subsidy, the demand for home upgrades in Q4 is expected to be further catalyzed.