Red Star Macalline Group Corporation (01528) achieved a self-operated mall revenue of 4.94 billion yuan in 2025, a year-on-year decrease of 9.6%.

Red Star Macalline Group Corporation (01528) announced that as of December 31, 2025, the company operates 74 self-owned shopping malls, 218 managed shopping malls with varying levels of management depth, and operates 7 home furnishing malls through strategic partnerships. Additionally, the company has authorized 19 franchised home furnishing projects, totaling 345 home furnishing stores/industrial streets. During the reporting period, the company closed 4 self-owned shopping malls located in Chongqing, Guangzhou, Chengdu, and Changsha. Three managed shopping malls were converted to self-owned, located in Tangshan, Hebei, and Tianjin (two). Two self-owned shopping malls were converted to managed, located in Baotou, Inner Mongolia, and Changzhou, Jiangsu. A new managed shopping mall was opened in Taizhou, Jiangsu, and 38 shopping malls were closed in various locations. As of December 31, 2025, the company has 16 self-owned shopping malls in preparation (13 owned and 3 leased), with a planned construction area of approximately 2.63 million square meters (subject to final approval from government permits); of the planned managed shopping malls, 246 managed contract projects have obtained land use rights certificates/acquired land. The company's operating self-owned shopping malls achieved operating income of RMB 4.94 billion during the reporting period, a decrease of 9.6% compared to the same period last year, with a gross profit margin of 69.8%, an increase of 1.1 percentage points compared to the same period in 2024.